Bristlecone Advisors LLC Sells 600 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Bristlecone Advisors LLC lowered its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 8.7% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 6,264 shares of the network equipment provider’s stock after selling 600 shares during the quarter. Bristlecone Advisors LLC’s holdings in Cisco Systems were worth $333,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of CSCO. Swedbank AB purchased a new stake in Cisco Systems in the 1st quarter worth approximately $840,538,000. Dimensional Fund Advisors LP lifted its holdings in Cisco Systems by 22.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 26,409,843 shares of the network equipment provider’s stock worth $1,254,739,000 after buying an additional 4,843,146 shares during the period. Pathway Financial Advisers LLC lifted its holdings in Cisco Systems by 5,231.5% in the 3rd quarter. Pathway Financial Advisers LLC now owns 4,935,107 shares of the network equipment provider’s stock worth $262,646,000 after buying an additional 4,842,542 shares during the period. Natixis lifted its stake in shares of Cisco Systems by 438.4% in the 1st quarter. Natixis now owns 4,924,988 shares of the network equipment provider’s stock valued at $245,806,000 after purchasing an additional 4,010,228 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Cisco Systems by 26.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,858,505 shares of the network equipment provider’s stock valued at $691,678,000 after purchasing an additional 2,906,357 shares during the period. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Performance

Shares of CSCO opened at $55.74 on Monday. The firm has a market capitalization of $224.57 billion, a P/E ratio of 18.77, a PEG ratio of 4.22 and a beta of 0.83. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.91 and a quick ratio of 0.83. The business has a fifty day moving average of $52.12 and a 200 day moving average of $48.86. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $57.06.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.02. The company had revenue of $13.64 billion for the quarter, compared to the consensus estimate of $13.53 billion. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. Cisco Systems’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.01 earnings per share. As a group, sell-side analysts anticipate that Cisco Systems, Inc. will post 2.9 EPS for the current year.

Cisco Systems Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Wednesday, October 2nd. This represents a $1.60 annualized dividend and a yield of 2.87%. Cisco Systems’s dividend payout ratio (DPR) is presently 53.87%.

Analysts Set New Price Targets

CSCO has been the subject of a number of research analyst reports. Jefferies Financial Group lowered their target price on Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. Tigress Financial raised their target price on Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a research note on Monday, October 14th. New Street Research upgraded Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 target price for the company in a research note on Thursday, August 15th. Hsbc Global Res upgraded Cisco Systems to a “strong-buy” rating in a research note on Friday, August 16th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Cisco Systems from $52.00 to $53.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $56.74.

Insider Activity at Cisco Systems

In related news, SVP Maria Victoria Wong sold 3,379 shares of Cisco Systems stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $50.36, for a total transaction of $170,166.44. Following the transaction, the senior vice president now directly owns 47,182 shares in the company, valued at approximately $2,376,085.52. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP Maria Victoria Wong sold 3,379 shares of the business’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $50.36, for a total value of $170,166.44. Following the transaction, the senior vice president now directly owns 47,182 shares in the company, valued at $2,376,085.52. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Charles Robbins sold 27,143 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $49.45, for a total value of $1,342,221.35. Following the completion of the transaction, the chief executive officer now owns 683,403 shares in the company, valued at $33,794,278.35. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 70,529 shares of company stock worth $3,509,049. Corporate insiders own 0.02% of the company’s stock.

Cisco Systems Profile

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. The company also offers switching portfolio encompasses campus switching as well as data center switching; enterprise routing portfolio interconnects public and private wireline and mobile networks, delivering highly secure, and reliable connectivity to campus, data center and branch networks; wireless products include wireless access points and controllers; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.