Brooktree Capital Management Decreases Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

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Brooktree Capital Management lessened its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 61.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,600 shares of the network equipment provider’s stock after selling 10,591 shares during the quarter. Brooktree Capital Management’s holdings in Cisco Systems were worth $259,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. FNY Investment Advisers LLC lifted its position in shares of Cisco Systems by 79,900.0% during the third quarter. FNY Investment Advisers LLC now owns 800 shares of the network equipment provider’s stock valued at $31,000 after buying an additional 799 shares during the last quarter. Emerald Advisers LLC purchased a new stake in shares of Cisco Systems during the second quarter worth about $38,000. Ovata Capital Management Ltd acquired a new position in shares of Cisco Systems during the second quarter valued at about $44,000. Laidlaw Wealth Management LLC raised its position in shares of Cisco Systems by 9,979.9% in the 2nd quarter. Laidlaw Wealth Management LLC now owns 2,535,706 shares of the network equipment provider’s stock valued at $54,000 after purchasing an additional 2,510,550 shares during the last quarter. Finally, Asset Advisors Investment Management LLC acquired a new stake in Cisco Systems in the 2nd quarter worth approximately $56,000. Hedge funds and other institutional investors own 71.28% of the company’s stock.

In other news, CFO Kelly A. Kramer sold 45,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $42.01, for a total value of $1,890,450.00. Also, CEO Charles Robbins sold 7,806 shares of the company’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $42.10, for a total transaction of $328,632.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 53,152 shares of company stock valued at $2,233,013. Insiders own 0.02% of the company’s stock.

NASDAQ CSCO traded down $0.25 during trading hours on Tuesday, hitting $42.29. The company had a trading volume of 393,574 shares, compared to its average volume of 25,921,303. The business has a 50 day moving average of $38.61 and a 200-day moving average of $42.87. The company has a market cap of $179.56 billion, a PE ratio of 17.29, a price-to-earnings-growth ratio of 2.07 and a beta of 0.87. Cisco Systems, Inc. has a 1-year low of $32.40 and a 1-year high of $50.28. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.67 and a current ratio of 1.72.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Thursday, November 12th. The network equipment provider reported $0.76 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.06. The business had revenue of $11.93 billion during the quarter, compared to the consensus estimate of $11.85 billion. Cisco Systems had a return on equity of 33.04% and a net margin of 21.76%. The business’s quarterly revenue was down 9.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.84 EPS. Sell-side analysts expect that Cisco Systems, Inc. will post 2.8 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 21st. Shareholders of record on Friday, October 2nd were issued a $0.36 dividend. The ex-dividend date of this dividend was Thursday, October 1st. This represents a $1.44 dividend on an annualized basis and a yield of 3.41%. Cisco Systems’s dividend payout ratio (DPR) is presently 49.32%.

Several research firms have recently commented on CSCO. UBS Group initiated coverage on shares of Cisco Systems in a research note on Wednesday, September 23rd. They set a “neutral” rating and a $41.00 price objective for the company. The Goldman Sachs Group set a $45.00 price target on Cisco Systems and gave the company a “neutral” rating in a research report on Friday. BidaskClub lowered Cisco Systems from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 1st. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upped their price objective on Cisco Systems from $43.00 to $45.00 in a research report on Friday. Finally, Credit Suisse Group upped their price objective on Cisco Systems from $36.00 to $41.00 and gave the stock a “neutral” rating in a research report on Friday. Two investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eleven have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $47.54.

About Cisco Systems

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. It provides infrastructure platforms, including networking technologies of switching, routing, wireless, and data center products that are designed to work together to deliver networking capabilities, and transport and/or store data.

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

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