Linscomb Wealth Inc. Lowers Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Linscomb Wealth Inc. decreased its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund 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 quarter.

Several other institutional investors have also bought and sold shares of the stock. Summit Securities Group LLC bought a new stake in Cisco Systems in the 2nd quarter worth about $25,000. Quarry LP grew its holdings in shares of Cisco Systems by 222.4% in the second quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock valued at $31,000 after acquiring an additional 456 shares in the last quarter. West Financial Advisors LLC increased its position in shares of Cisco Systems by 116.6% during the third quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock valued at $31,000 after acquiring an additional 309 shares during the last quarter. Hobbs Group Advisors LLC bought a new stake in Cisco Systems during the second quarter worth $36,000. Finally, Iron Horse Wealth Management LLC boosted its position in Cisco Systems by 617.7% in the second quarter. Iron Horse Wealth Management LLC now owns 890 shares of the network equipment provider’s stock worth $42,000 after purchasing an additional 766 shares during the last quarter. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Price Performance

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

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. Cisco Systems had a net margin of 17.73% and a return on equity of 25.62%. The business had revenue of $13.64 billion for the quarter, compared to analysts’ expectations of $13.53 billion. During the same period last year, the business earned $1.01 earnings per share. The business’s quarterly revenue was down 10.3% on a year-over-year basis. Analysts expect that Cisco Systems, Inc. will post 2.89 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The firm 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 $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.77%. Cisco Systems’s payout ratio is presently 68.67%.

Insider Activity

In other news, SVP Maria Victoria Wong sold 3,379 shares of Cisco Systems stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $50.36, for a total value of $170,166.44. Following the completion of the transaction, the senior vice president now owns 47,182 shares of the company’s stock, valued at $2,376,085.52. The trade was a 6.68 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Richard Scott Herren sold 22,309 shares of the stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $50.00, for a total value of $1,115,450.00. Following the sale, the chief financial officer now owns 293,184 shares in the company, valued at approximately $14,659,200. This represents a 7.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,924 shares of company stock valued at $1,798,131. Company insiders own 0.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Citigroup lifted their target price on Cisco Systems from $62.00 to $64.00 and gave the stock a “buy” rating in a research note on Thursday. Piper Sandler boosted their target price on shares of Cisco Systems from $52.00 to $57.00 and gave the company a “neutral” rating in a research note on Thursday. Wells Fargo & Company raised their price target on shares of Cisco Systems from $57.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft upped their price objective on Cisco Systems from $52.00 to $53.00 and gave the company a “hold” rating in a research note on Thursday, August 15th. Finally, New Street Research raised Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 target price for the company in a research report on Thursday, August 15th. Eleven analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Cisco Systems has an average rating of “Moderate Buy” and a consensus price target of $59.42.

Cisco Systems 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.