Prentiss Smith & Co Inc 13F Holdings: Q4 2022 vs Q1 2023

Prentiss Smith & Co Inc is a registered investment advisor firm that operates out of Vermont, US. As of the end of Q4 2022 and Q1 2023, the firm made several changes to its 13F holdings. In this article, we will look at the changes in holdings and explore the possible reasons behind them.

CISCO Systems Inc - A Major Increase in Holdings

One of the significant changes in Prentiss Smith & Co Inc's holdings is the increase in its holdings of CISCO Systems Inc. In Q4 2022, the firm reported holdings of 87,814 shares, with a value of $4,183,000. But in Q1 2023, Prentiss Smith & Co Inc increased its holdings of CISCO Systems to 144,897 shares, worth $7,574,000. That's an increase of over 81 percent!

The increase in holdings could be attributed to several factors, including:

1. Positive Earnings Reports- CISCO Systems reported better-than-expected Q1 2023 earnings, and the company's stock price rose over 12% in November 2022.

2. Dividends - Cisco Systems Inc is known for its stable dividends, and the company has consistently increased its dividend payout over the years. Prentiss Smith & Co Inc might have increased its holdings to take advantage of the dividends.

Salesforce Inc - A Significant Increase in Value

Another significant change in Prentiss Smith & Co Inc's holdings is the increase in value of its holdings of Salesforce Inc. In Q4 2022, the firm reported holdings of 29,200 shares, with a value of $3,871,000. But in Q1 2023, the firm's holdings of Salesforce Inc increased in value to $5,621,000, an increase of over 45%.

Salesforce Inc is a cloud-based software company known for its customer relationship management solutions. The increase in value of Prentiss Smith & Co Inc's holdings could be attributed to several reasons, including:

1. Strong growth prospects - Salesforce Inc has consistently shown strong growth in its revenue and profits. The company's revenues grew over 20% in Q3 2022, and its earnings exceeded analyst expectations.

2. Acquisition of Slack - In December 2022, Salesforce Inc completed its acquisition of Slack Technologies. The acquisition is expected to strengthen Salesforce's position in the enterprise software market and could lead to increased revenue growth.

ExxonMobil Corp - No Change in Value

Prentiss Smith & Co Inc did not make any significant changes in the value of its holdings of ExxonMobil Corp. The firm reported holdings of 13,497 shares in both Q4 2022 and Q1 2023, with a value of $1,488,000 and $1,480,000 respectively.

ExxonMobil Corp is one of the world's largest oil and gas companies. The company's stock has been affected by the downturn in the oil and gas sector, but it has been making efforts to diversify its operations into renewable energy sources.

Conclusion

Prentiss Smith & Co Inc made several changes to its 13F holdings in Q4 2022 and Q1 2023. The firm increased its holdings of CISCO Systems Inc and Salesforce Inc, possibly due to positive earnings reports and strong growth prospects. The company did not make any significant changes to its holdings of ExxonMobil Corp, which is currently facing a downturn in the oil and gas sector. Investors should keep an eye on Prentiss Smith & Co Inc's holdings and monitor the market trends to make informed investment decisions.