Lincoln National Corp Purchases 788 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Lincoln National Corp grew its position in shares of Cisco Systems, Inc. (NASDAQ:CSCOGet Rating) by 1.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 70,998 shares of the network equipment provider’s stock after buying an additional 788 shares during the quarter. Lincoln National Corp’s holdings in Cisco Systems were worth $3,959,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the company. BlackRock Inc. lifted its position in shares of Cisco Systems by 3.5% during the 4th quarter. BlackRock Inc. now owns 350,404,388 shares of the network equipment provider’s stock worth $22,205,126,000 after buying an additional 11,804,677 shares in the last quarter. State Street Corp raised its holdings in shares of Cisco Systems by 3.2% in the 4th quarter. State Street Corp now owns 186,125,154 shares of the network equipment provider’s stock worth $11,794,751,000 after purchasing an additional 5,730,165 shares during the period. Geode Capital Management LLC raised its holdings in shares of Cisco Systems by 1.9% in the 4th quarter. Geode Capital Management LLC now owns 73,136,734 shares of the network equipment provider’s stock worth $4,623,101,000 after purchasing an additional 1,380,066 shares during the period. Northern Trust Corp raised its holdings in shares of Cisco Systems by 0.3% in the 4th quarter. Northern Trust Corp now owns 55,173,669 shares of the network equipment provider’s stock worth $3,496,355,000 after purchasing an additional 183,779 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Cisco Systems by 4.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 50,268,847 shares of the network equipment provider’s stock worth $3,185,537,000 after purchasing an additional 2,336,314 shares during the period. Institutional investors own 73.18% of the company’s stock.

Wall Street Analyst Weigh In

CSCO has been the topic of a number of research reports. Rosenblatt Securities initiated coverage on shares of Cisco Systems in a report on Tuesday, July 12th. They issued a “neutral” rating and a $48.00 price target on the stock. Jefferies Financial Group lowered their price target on shares of Cisco Systems from $65.00 to $52.00 and set a “buy” rating on the stock in a report on Thursday, May 19th. Evercore ISI lowered their target price on shares of Cisco Systems from $62.00 to $50.00 and set an “outperform” rating on the stock in a report on Thursday, May 19th. Oppenheimer reduced their price target on shares of Cisco Systems from $60.00 to $50.00 and set an “outperform” rating for the company in a research report on Thursday, May 19th. Finally, Bank of America reduced their price target on shares of Cisco Systems from $62.00 to $52.00 and set a “buy” rating for the company in a research report on Thursday, May 19th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, Cisco Systems has an average rating of “Hold” and a consensus price target of $54.23.

Cisco Systems Stock Performance

NASDAQ CSCO opened at $45.01 on Friday. The company has a 50-day simple moving average of $43.96 and a two-hundred day simple moving average of $49.96. The company has a quick ratio of 1.40, a current ratio of 1.49 and a debt-to-equity ratio of 0.21. Cisco Systems, Inc. has a 12-month low of $40.82 and a 12-month high of $64.29. The firm has a market cap of $186.38 billion, a price-to-earnings ratio of 15.79, a PEG ratio of 2.23 and a beta of 0.97.

Cisco Systems (NASDAQ:CSCOGet Rating) last posted its quarterly earnings results on Wednesday, May 18th. The network equipment provider reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.01. Cisco Systems had a net margin of 23.28% and a return on equity of 31.22%. The business had revenue of $12.84 billion during the quarter, compared to analyst estimates of $13.33 billion. During the same period in the prior year, the business posted $0.75 earnings per share. On average, equities analysts forecast that Cisco Systems, Inc. will post 3 EPS for the current year.

Cisco Systems Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 27th. Shareholders of record on Wednesday, July 6th were given a dividend of $0.38 per share. The ex-dividend date of this dividend was Tuesday, July 5th. This represents a $1.52 annualized dividend and a yield of 3.38%. Cisco Systems’s payout ratio is 53.33%.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, SVP Prat Bhatt sold 3,700 shares of the company’s stock in a transaction dated Monday, May 23rd. The shares were sold at an average price of $43.34, for a total transaction of $160,358.00. Following the completion of the sale, the senior vice president now directly owns 80,784 shares in the company, valued at $3,501,178.56. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, COO Maria Martinez sold 3,628 shares of the company’s stock in a transaction dated Monday, May 23rd. The shares were sold at an average price of $43.34, for a total transaction of $157,237.52. Following the completion of the transaction, the chief operating officer now directly owns 295,305 shares of the company’s stock, valued at $12,798,518.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Prat Bhatt sold 3,700 shares of the company’s stock in a transaction dated Monday, May 23rd. The shares were sold at an average price of $43.34, for a total transaction of $160,358.00. Following the transaction, the senior vice president now directly owns 80,784 shares of the company’s stock, valued at $3,501,178.56. The disclosure for this sale can be found here. Insiders sold a total of 25,326 shares of company stock worth $1,103,159 over the last three months. Company insiders own 0.02% of the company’s stock.

About Cisco Systems

(Get Rating)

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. It provides infrastructure platforms, including networking technologies of switching, routing, wireless, and data center products that are designed to work together to deliver networking capabilities, and transport and/or store data.

Recommended Stories

Want to see what other hedge funds are holding CSCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cisco Systems, Inc. (NASDAQ:CSCOGet Rating).

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

Receive News & Ratings for Cisco Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cisco Systems and related companies with MarketBeat.com's FREE daily email newsletter.