Linscomb Wealth Inc. Acquires 5,734 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Linscomb Wealth Inc. increased its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 3.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 181,902 shares of the network equipment provider’s stock after acquiring an additional 5,734 shares during the period. Linscomb Wealth Inc.’s holdings in Cisco Systems were worth $10,769,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Pflug Koory LLC grew its stake in shares of Cisco Systems by 0.5% in the 4th quarter. Pflug Koory LLC now owns 33,026 shares of the network equipment provider’s stock valued at $1,955,000 after purchasing an additional 165 shares during the period. Fairhaven Wealth Management LLC boosted its stake in Cisco Systems by 2.3% in the 4th quarter. Fairhaven Wealth Management LLC now owns 7,581 shares of the network equipment provider’s stock valued at $449,000 after buying an additional 167 shares in the last quarter. Pathway Financial Advisors LLC grew its position in Cisco Systems by 3.1% in the fourth quarter. Pathway Financial Advisors LLC now owns 5,791 shares of the network equipment provider’s stock valued at $343,000 after acquiring an additional 172 shares during the period. Beaumont Financial Advisors LLC raised its stake in Cisco Systems by 1.7% during the fourth quarter. Beaumont Financial Advisors LLC now owns 10,591 shares of the network equipment provider’s stock worth $627,000 after acquiring an additional 173 shares in the last quarter. Finally, SeaCrest Wealth Management LLC lifted its holdings in shares of Cisco Systems by 0.6% during the fourth quarter. SeaCrest Wealth Management LLC now owns 31,744 shares of the network equipment provider’s stock valued at $1,879,000 after acquiring an additional 178 shares during the period. Institutional investors own 73.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on CSCO. Barclays increased their target price on shares of Cisco Systems from $56.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 13th. UBS Group lifted their target price on shares of Cisco Systems from $62.00 to $70.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Piper Sandler boosted their target price on Cisco Systems from $57.00 to $72.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Melius raised Cisco Systems from a “hold” rating to a “buy” rating and raised their price target for the company from $66.00 to $73.00 in a report on Monday, January 6th. Finally, Morgan Stanley boosted their price objective on Cisco Systems from $62.00 to $68.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 17th. Seven research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $66.63.

Cisco Systems Stock Down 0.4 %

NASDAQ:CSCO opened at $63.81 on Friday. The company has a quick ratio of 0.79, a current ratio of 0.87 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $66.50. The stock’s fifty day simple moving average is $61.12 and its 200-day simple moving average is $56.66. The firm has a market capitalization of $253.85 billion, a P/E ratio of 27.86, a P/E/G ratio of 4.16 and a beta of 0.84.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.14). Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. Equities research analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Thursday, April 3rd will be paid a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 2.57%. The ex-dividend date is Thursday, April 3rd. This is an increase from Cisco Systems’s previous quarterly dividend of $0.40. Cisco Systems’s dividend payout ratio is presently 71.62%.

Cisco Systems announced that its board has approved a stock repurchase plan on Wednesday, February 12th that authorizes the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization authorizes the network equipment provider to purchase up to 6% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other news, EVP Deborah L. Stahlkopf sold 11,808 shares of Cisco Systems stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $64.37, for a total transaction of $760,080.96. Following the transaction, the executive vice president now owns 200,191 shares in the company, valued at $12,886,294.67. The trade was a 5.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Charles Robbins sold 31,983 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $64.41, for a total value of $2,060,025.03. Following the completion of the transaction, the chief executive officer now owns 736,120 shares of the company’s stock, valued at $47,413,489.20. This represents a 4.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 74,848 shares of company stock worth $4,767,206. Company insiders own 0.01% of the company’s stock.

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.