Cisco Systems, Inc. (CSCO) Holdings Held by Bernzott Capital Advisors
Bernzott Capital Advisors maintained its position in Cisco Systems, Inc. (NASDAQ:CSCO) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 326,853 shares of the network equipment provider’s stock at the close of the 2nd quarter. Cisco Systems accounts for about 1.7% of Bernzott Capital Advisors’ portfolio, making the stock its 27th largest holding. Bernzott Capital Advisors’ holdings in Cisco Systems were worth $10,230,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Barnett & Company Inc. increased its holdings in Cisco Systems by 1,511.5% in the second quarter. Barnett & Company Inc. now owns 3,223 shares of the network equipment provider’s stock valued at $101,000 after purchasing an additional 3,023 shares during the last quarter. Tortoise Investment Management LLC increased its holdings in Cisco Systems by 36.1% in the second quarter. Tortoise Investment Management LLC now owns 3,309 shares of the network equipment provider’s stock valued at $104,000 after purchasing an additional 878 shares during the last quarter. Watermark Asset Management Inc. bought a new stake in Cisco Systems in the first quarter valued at about $122,000. Grove Bank & Trust grew its stake in Cisco Systems by 141.3% in the second quarter. Grove Bank & Trust now owns 3,620 shares of the network equipment provider’s stock valued at $113,000 after acquiring an additional 2,120 shares during the period. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. grew its stake in Cisco Systems by 15.0% in the first quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 4,300 shares of the network equipment provider’s stock valued at $145,000 after acquiring an additional 560 shares during the period. Institutional investors and hedge funds own 75.22% of the company’s stock.
In related news, insider John T. Chambers sold 250,000 shares of the firm’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $31.14, for a total transaction of $7,785,000.00. Following the completion of the transaction, the insider now directly owns 729,305 shares of the company’s stock, valued at approximately $22,710,557.70. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Charles Robbins sold 121,390 shares of the firm’s stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $32.06, for a total value of $3,891,763.40. Following the transaction, the chief executive officer now directly owns 552,694 shares of the company’s stock, valued at $17,719,369.64. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 485,138 shares of company stock valued at $15,347,574. 0.05% of the stock is owned by corporate insiders.
A number of research firms have issued reports on CSCO. BMO Capital Markets reissued a “hold” rating and issued a $32.00 target price on shares of Cisco Systems in a research note on Monday, October 23rd. Berenberg Bank reissued a “hold” rating and issued a $33.00 target price on shares of Cisco Systems in a research note on Tuesday, October 24th. Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a research note on Tuesday, October 24th. Cowen and Company reissued a “buy” rating and issued a $38.00 target price on shares of Cisco Systems in a research note on Friday, November 3rd. Finally, Oppenheimer Holdings, Inc. reissued a “buy” rating and issued a $36.00 target price on shares of Cisco Systems in a research note on Tuesday, October 31st. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and twenty-two have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $35.31.
Shares of Cisco Systems, Inc. (NASDAQ CSCO) opened at $33.95 on Tuesday. The company has a current ratio of 3.03, a quick ratio of 2.98 and a debt-to-equity ratio of 0.39. Cisco Systems, Inc. has a twelve month low of $29.12 and a twelve month high of $34.75. The firm has a market capitalization of $168,311.06, a price-to-earnings ratio of 15.66, a P/E/G ratio of 2.97 and a beta of 1.15.
Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, August 16th. The network equipment provider reported $0.61 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.61. The business had revenue of $12.13 billion during the quarter, compared to analyst estimates of $12.07 billion. Cisco Systems had a return on equity of 16.91% and a net margin of 20.02%. Cisco Systems’s revenue for the quarter was down 4.0% compared to the same quarter last year. During the same period last year, the company earned $0.63 EPS. research analysts forecast that Cisco Systems, Inc. will post 2.18 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, October 25th. Investors of record on Thursday, October 5th were given a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 3.42%. The ex-dividend date was Wednesday, October 4th. Cisco Systems’s dividend payout ratio is currently 60.73%.
Cisco Systems Profile
Cisco Systems, Inc designs and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The Company operates through three geographic segments: Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific, Japan and China (APJC).
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