Bristol Gate Capital Partners Inc. Increases Holdings in Cisco Systems, Inc. (CSCO)

Bristol Gate Capital Partners Inc. grew its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 11.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 952,632 shares of the network equipment provider’s stock after purchasing an additional 101,469 shares during the quarter. Cisco Systems accounts for about 4.6% of Bristol Gate Capital Partners Inc.’s holdings, making the stock its 11th biggest holding. Bristol Gate Capital Partners Inc.’s holdings in Cisco Systems were worth $29,817,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of CSCO. Benedict Financial Advisors Inc. lifted its stake in Cisco Systems by 2.0% in the first quarter. Benedict Financial Advisors Inc. now owns 137,502 shares of the network equipment provider’s stock worth $4,648,000 after acquiring an additional 2,653 shares during the last quarter. Moloney Securities Asset Management LLC purchased a new position in Cisco Systems in the first quarter worth approximately $251,000. Clarkston Capital Partners LLC lifted its stake in Cisco Systems by 3.8% in the first quarter. Clarkston Capital Partners LLC now owns 924,817 shares of the network equipment provider’s stock worth $31,259,000 after acquiring an additional 33,967 shares during the last quarter. First Merchants Corp lifted its stake in Cisco Systems by 2.6% in the first quarter. First Merchants Corp now owns 128,914 shares of the network equipment provider’s stock worth $4,355,000 after acquiring an additional 3,315 shares during the last quarter. Finally, BTC Capital Management Inc. lifted its stake in Cisco Systems by 21.5% in the first quarter. BTC Capital Management Inc. now owns 169,076 shares of the network equipment provider’s stock worth $5,716,000 after acquiring an additional 29,972 shares during the last quarter. 75.79% of the stock is owned by institutional investors and hedge funds.

A number of research firms have weighed in on CSCO. Vetr cut shares of Cisco Systems from a “hold” rating to a “sell” rating and set a $35.93 price objective on the stock. in a report on Wednesday, November 29th. Sanford C. Bernstein reaffirmed a “buy” rating and issued a $40.00 target price on shares of Cisco Systems in a report on Monday, November 27th. Argus lifted their price objective on shares of Cisco Systems from $41.00 to $44.00 and gave the company a “buy” rating in a research report on Friday, November 17th. Cowen reiterated a “buy” rating on shares of Cisco Systems in a research report on Friday, November 17th. Finally, MKM Partners lifted their price objective on shares of Cisco Systems to $38.00 and gave the company a “neutral” rating in a research report on Thursday, November 16th. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-one have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $36.80.

Cisco Systems, Inc. (CSCO) opened at $37.72 on Tuesday. Cisco Systems, Inc. has a one year low of $29.24 and a one year high of $38.03. The company has a current ratio of 2.87, a quick ratio of 2.81 and a debt-to-equity ratio of 0.39. The company has a market cap of $186,470.00, a PE ratio of 17.33, a PEG ratio of 3.40 and a beta of 1.19.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, November 15th. The network equipment provider reported $0.61 EPS for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.01. The company had revenue of $12.14 billion during the quarter, compared to the consensus estimate of $12.11 billion. Cisco Systems had a net margin of 20.26% and a return on equity of 16.64%. The company’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.61 EPS. sell-side analysts forecast that Cisco Systems, Inc. will post 2.21 earnings per share for the current year.

In other Cisco Systems news, insider John T. Chambers sold 250,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $36.50, for a total value of $9,125,000.00. Following the completion of the transaction, the insider now owns 712,736 shares in the company, valued at approximately $26,014,864. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Prat Bhatt sold 2,606 shares of the stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $36.49, for a total value of $95,092.94. Following the transaction, the chief accounting officer now owns 89,184 shares of the company’s stock, valued at $3,254,324.16. The disclosure for this sale can be found here. In the last three months, insiders have sold 493,530 shares of company stock valued at $16,993,798. Corporate insiders own 0.05% of the company’s stock.

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About Cisco Systems

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).

Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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