Lincoln Capital Corp Decreases Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Lincoln Capital Corp trimmed its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 8.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,960 shares of the network equipment provider’s stock after selling 650 shares during the period. Lincoln Capital Corp’s holdings in Cisco Systems were worth $344,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Evolution Wealth Advisors LLC acquired a new stake in Cisco Systems during the second quarter worth about $33,000. Lowe Wealth Advisors LLC bought a new position in Cisco Systems in the 2nd quarter worth about $38,000. Personal Wealth Partners bought a new position in Cisco Systems in the 2nd quarter worth about $44,000. Ashburton Jersey Ltd bought a new position in Cisco Systems in the 2nd quarter worth about $49,000. Finally, Cordasco Financial Network grew its position in Cisco Systems by 78.4% in the 3rd quarter. Cordasco Financial Network now owns 1,142 shares of the network equipment provider’s stock worth $56,000 after purchasing an additional 502 shares during the last quarter. 73.27% of the stock is owned by hedge funds and other institutional investors.

In other news, EVP Mark D. Chandler sold 546 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $47.92, for a total transaction of $26,164.32. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Kelly A. Kramer sold 70,000 shares of the stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $46.72, for a total transaction of $3,270,400.00. Following the transaction, the chief financial officer now owns 277,548 shares in the company, valued at approximately $12,967,042.56. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 193,130 shares of company stock worth $9,359,179. 0.03% of the stock is currently owned by company insiders.

Several research firms have commented on CSCO. Robert W. Baird set a $54.00 target price on shares of Cisco Systems and gave the stock a “buy” rating in a research report on Friday, September 13th. KeyCorp decreased their target price on shares of Cisco Systems from $56.00 to $54.00 and set an “overweight” rating for the company in a research report on Thursday, October 17th. Goldman Sachs Group cut shares of Cisco Systems from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $56.00 to $48.00 in a research report on Thursday, October 10th. Morgan Stanley decreased their target price on shares of Cisco Systems from $51.00 to $49.00 and set an “equal weight” rating for the company in a research report on Thursday, August 15th. Finally, UBS Group set a $58.00 target price on shares of Cisco Systems and gave the stock a “buy” rating in a research report on Thursday, August 15th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and twenty have assigned a buy rating to the company. Cisco Systems presently has an average rating of “Buy” and a consensus target price of $55.92.

CSCO stock traded up $0.41 on Friday, hitting $48.83. 14,406,400 shares of the company’s stock traded hands, compared to its average volume of 20,421,934. Cisco Systems, Inc. has a 1-year low of $40.25 and a 1-year high of $58.26. The company has a current ratio of 1.51, a quick ratio of 1.46 and a debt-to-equity ratio of 0.43. The stock has a market cap of $202.69 billion, a price-to-earnings ratio of 17.13, a P/E/G ratio of 2.30 and a beta of 1.28. The stock has a fifty day moving average of $47.56 and a 200-day moving average of $52.07.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, August 14th. The network equipment provider reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.82 by $0.01. Cisco Systems had a net margin of 22.39% and a return on equity of 32.43%. The company had revenue of $13.43 billion during the quarter, compared to the consensus estimate of $13.39 billion. During the same quarter in the prior year, the firm earned $0.70 EPS. The company’s revenue was up 4.5% compared to the same quarter last year. On average, equities research analysts anticipate that Cisco Systems, Inc. will post 3.03 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Friday, October 4th were paid a dividend of $0.35 per share. The ex-dividend date was Thursday, October 3rd. This represents a $1.40 annualized dividend and a dividend yield of 2.87%. Cisco Systems’s dividend payout ratio (DPR) is 49.12%.

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 worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.

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Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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