Linscomb Wealth Inc. Boosts Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Key Points

• Linscomb Wealth Inc. increased its stake in Cisco Systems by 2.9% in Q1, owning 187,218 shares valued at approximately $11.55 million.
• Insider selling occurred with notable transactions on May 16th, where Jeetendra I. Patel and Deborah L. Stahlkopf sold shares totaling over $1.25 million.
• Cisco's stock received multiple target price upgrades from analysts, with a consensus rating of "Moderate Buy" and an average price target of $70.55.

Linscomb Wealth Inc. raised its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 2.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 187,218 shares of the network equipment provider's stock after purchasing an additional 5,316 shares during the quarter. Linscomb Wealth Inc.'s holdings in Cisco Systems were worth $11,553,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Brighton Jones LLC grew its stake in Cisco Systems by 49.5% during the fourth quarter. Brighton Jones LLC now owns 74,187 shares of the network equipment provider's stock valued at $4,392,000 after acquiring an additional 24,562 shares in the last quarter. Revolve Wealth Partners LLC increased its holdings in shares of Cisco Systems by 37.0% in the fourth quarter. Revolve Wealth Partners LLC now owns 9,156 shares of the network equipment provider's stock worth $542,000 after purchasing an additional 2,474 shares during the last quarter. Glass Jacobson Investment Advisors llc lifted its position in shares of Cisco Systems by 8.7% in the fourth quarter. Glass Jacobson Investment Advisors llc now owns 2,070 shares of the network equipment provider's stock worth $123,000 after buying an additional 166 shares in the last quarter. Sterling Capital Management LLC boosted its stake in Cisco Systems by 151.8% during the fourth quarter. Sterling Capital Management LLC now owns 118,014 shares of the network equipment provider's stock valued at $6,986,000 after buying an additional 71,155 shares during the last quarter. Finally, Petros Family Wealth LLC purchased a new position in Cisco Systems during the 4th quarter valued at approximately $1,703,000. 73.33% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CSCO shares. Evercore ISI restated an "in-line" rating and set a $72.00 price objective on shares of Cisco Systems in a research report on Monday, July 28th. KeyCorp started coverage on shares of Cisco Systems in a research note on Thursday, June 26th. They set an "overweight" rating and a $77.00 price objective for the company. JPMorgan Chase & Co. increased their target price on shares of Cisco Systems from $73.00 to $78.00 and gave the company an "overweight" rating in a research note on Thursday, July 17th. Deutsche Bank Aktiengesellschaft raised shares of Cisco Systems from a "hold" rating to a "buy" rating and lifted their price target for the stock from $65.00 to $73.00 in a research note on Monday, June 16th. Finally, Morgan Stanley increased their price objective on shares of Cisco Systems from $67.00 to $70.00 and gave the stock an "overweight" rating in a research report on Friday, July 18th. Eight investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $70.55.

Insiders Place Their Bets

In related news, CFO Richard Scott Herren sold 15,678 shares of the business's stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $65.52, for a total value of $1,027,222.56. Following the sale, the chief financial officer directly owned 309,543 shares in the company, valued at approximately $20,281,257.36. The trade was a 4.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Maria Victoria Wong sold 762 shares of the stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $64.07, for a total transaction of $48,821.34. Following the transaction, the senior vice president directly owned 36,937 shares of the company's stock, valued at approximately $2,366,553.59. This trade represents a 2.02% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 97,335 shares of company stock worth $6,271,054. 0.01% of the stock is currently owned by company insiders.

Cisco Systems Price Performance

Shares of Cisco Systems stock traded up $1.89 on Friday, reaching $71.79. The company's stock had a trading volume of 31,389,613 shares, compared to its average volume of 17,540,942. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $284.29 billion, a P/E ratio of 29.30, a PEG ratio of 3.98 and a beta of 0.91. The stock has a 50-day moving average price of $67.49 and a 200-day moving average price of $63.05. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $72.02.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.04. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. The firm had revenue of $14.15 billion during the quarter, compared to the consensus estimate of $14.05 billion. During the same quarter in the prior year, the firm earned $0.88 EPS. The company's revenue for the quarter was up 11.4% on a year-over-year basis. Analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd were paid a $0.41 dividend. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.3%. Cisco Systems's dividend payout ratio (DPR) is 66.94%.

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. 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.