Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Linscomb Wealth Inc.

Linscomb Wealth Inc. lowered its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 176,168 shares of the network equipment provider’s stock after selling 2,208 shares during the period. Linscomb Wealth Inc.’s holdings in Cisco Systems were worth $9,376,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. China Universal Asset Management Co. Ltd. boosted its stake in Cisco Systems by 226.9% in the 1st quarter. China Universal Asset Management Co. Ltd. now owns 26,423 shares of the network equipment provider’s stock worth $1,319,000 after buying an additional 18,339 shares during the last quarter. M&G Plc acquired a new position in Cisco Systems in the 1st quarter worth $46,071,000. Mizuho Markets Americas LLC boosted its holdings in Cisco Systems by 90.0% in the first quarter. Mizuho Markets Americas LLC now owns 650,818 shares of the network equipment provider’s stock valued at $32,482,000 after purchasing an additional 308,300 shares during the last quarter. Councilmark Asset Management LLC acquired a new stake in shares of Cisco Systems during the first quarter worth approximately $2,200,000. Finally, Te Ahumairangi Investment Management Ltd increased its position in shares of Cisco Systems by 4.8% in the 1st quarter. Te Ahumairangi Investment Management Ltd now owns 178,218 shares of the network equipment provider’s stock worth $8,895,000 after purchasing an additional 8,210 shares during the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on CSCO. HSBC raised shares of Cisco Systems from a “hold” rating to a “buy” rating and increased their target price for the stock from $46.00 to $58.00 in a report on Friday, August 16th. Wells Fargo & Company raised their target price on shares of Cisco Systems from $57.00 to $60.00 and gave the company an “equal weight” rating in a research note on Thursday. StockNews.com raised Cisco Systems from a “hold” rating to a “buy” rating in a research note on Thursday. Rosenblatt Securities increased their target price on shares of Cisco Systems from $56.00 to $58.00 and gave the company a “neutral” rating in a research note on Thursday, August 15th. Finally, Morgan Stanley increased their price target on Cisco Systems from $58.00 to $62.00 and gave the company an “overweight” rating in a research report on Thursday. Eleven analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.42.

Insider Transactions at Cisco Systems

In other Cisco Systems news, SVP Maria Victoria Wong sold 3,379 shares of Cisco Systems stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $50.36, for a total value of $170,166.44. Following the completion of the sale, the senior vice president now directly owns 47,182 shares of the company’s stock, valued at approximately $2,376,085.52. The trade was a 6.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Thimaya K. Subaiya sold 1,328 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $48.92, for a total value of $64,965.76. Following the completion of the sale, the executive vice president now directly owns 132,910 shares of the company’s stock, valued at $6,501,957.20. The trade was a 0.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,924 shares of company stock valued at $1,798,131. Corporate insiders own 0.01% of the company’s stock.

Cisco Systems Price Performance

Shares of Cisco Systems stock traded down $0.26 on Friday, reaching $57.66. 4,307,440 shares of the stock were exchanged, compared to its average volume of 19,037,467. The firm’s 50 day moving average is $54.00 and its 200-day moving average is $49.69. The firm has a market cap of $230.11 billion, a PE ratio of 24.82, a P/E/G ratio of 4.90 and a beta of 0.83. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $59.38. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.83 and a current ratio of 0.91.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.02. Cisco Systems had a return on equity of 25.62% and a net margin of 17.73%. The company had revenue of $13.64 billion for the quarter, compared to analysts’ expectations of $13.53 billion. During the same period in the previous year, the business posted $1.01 earnings per share. The business’s quarterly revenue was down 10.3% compared to the same quarter last year. As a group, analysts anticipate that Cisco Systems, Inc. will post 2.89 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.77%. Cisco Systems’s dividend payout ratio is presently 68.67%.

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.