Cisco Systems, Inc. (NASDAQ:CSCO) Shares Bought by Bristlecone Advisors LLC

Bristlecone Advisors LLC grew its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 31.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,226 shares of the network equipment provider’s stock after purchasing an additional 1,962 shares during the period. Bristlecone Advisors LLC’s holdings in Cisco Systems were worth $487,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of CSCO. Exchange Traded Concepts LLC boosted its stake in shares of Cisco Systems by 57.7% during the 3rd quarter. Exchange Traded Concepts LLC now owns 5,126 shares of the network equipment provider’s stock worth $273,000 after purchasing an additional 1,876 shares during the last quarter. Rise Advisors LLC boosted its stake in shares of Cisco Systems by 3.5% during the 3rd quarter. Rise Advisors LLC now owns 10,311 shares of the network equipment provider’s stock worth $549,000 after purchasing an additional 344 shares during the last quarter. Willis Investment Counsel lifted its holdings in shares of Cisco Systems by 0.4% during the 3rd quarter. Willis Investment Counsel now owns 890,204 shares of the network equipment provider’s stock worth $47,377,000 after acquiring an additional 3,383 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH lifted its holdings in shares of Cisco Systems by 1.0% during the 3rd quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 1,075,028 shares of the network equipment provider’s stock worth $57,213,000 after acquiring an additional 10,936 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its holdings in shares of Cisco Systems by 4.8% during the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 43,101 shares of the network equipment provider’s stock worth $2,294,000 after acquiring an additional 1,960 shares during the period. 73.33% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CSCO has been the topic of several recent analyst reports. UBS Group increased their price objective on shares of Cisco Systems from $55.00 to $62.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. Piper Sandler increased their price objective on shares of Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a report on Thursday, November 14th. Barclays increased their price objective on shares of Cisco Systems from $49.00 to $56.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th. Tigress Financial increased their price objective on shares of Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Finally, BNP Paribas upgraded shares of Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 price target on the stock in a report on Tuesday, January 28th. Seven research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $62.72.

Cisco Systems Trading Up 0.9 %

CSCO opened at $62.81 on Tuesday. The firm has a market capitalization of $250.16 billion, a P/E ratio of 26.96, a P/E/G ratio of 4.63 and a beta of 0.84. The firm’s 50 day moving average is $59.71 and its 200-day moving average is $55.10. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $63.25. The company has a quick ratio of 0.80, a current ratio of 0.88 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The business had revenue of $13.84 billion during the quarter, compared to the consensus estimate of $13.78 billion. During the same quarter last year, the company earned $0.98 earnings per share. The business’s quarterly revenue was down 5.6% compared to the same quarter last year. Analysts expect that Cisco Systems, Inc. will post 2.97 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date was Friday, January 3rd. Cisco Systems’s payout ratio is currently 68.67%.

Insider Transactions at Cisco Systems

In other Cisco Systems news, CEO Charles Robbins sold 171,744 shares of Cisco Systems stock in a transaction on Friday, November 15th. The shares were sold at an average price of $57.49, for a total value of $9,873,562.56. Following the completion of the transaction, the chief executive officer now owns 783,786 shares of the company’s stock, valued at $45,059,857.14. The trade was a 17.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Thimaya K. Subaiya sold 21,230 shares of Cisco Systems stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $57.07, for a total transaction of $1,211,596.10. Following the completion of the transaction, the executive vice president now directly owns 213,834 shares of the company’s stock, valued at approximately $12,203,506.38. This represents a 9.03 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 353,522 shares of company stock valued at $20,349,721. 0.01% of the stock is currently owned by corporate insiders.

Cisco Systems Company 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.