Good Life Advisors LLC Purchases 22,880 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Good Life Advisors LLC grew its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 141.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,040 shares of the network equipment provider’s stock after purchasing an additional 22,880 shares during the quarter. Good Life Advisors LLC’s holdings in Cisco Systems were worth $2,078,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bank of New York Mellon Corp lifted its holdings in Cisco Systems by 2.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 70,317,061 shares of the network equipment provider’s stock worth $3,340,764,000 after purchasing an additional 1,853,598 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of Cisco Systems by 3.3% in the second quarter. Legal & General Group Plc now owns 47,593,944 shares of the network equipment provider’s stock worth $2,261,185,000 after buying an additional 1,530,468 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Cisco Systems by 22.5% during the second quarter. Dimensional Fund Advisors LP now owns 26,409,843 shares of the network equipment provider’s stock worth $1,254,739,000 after acquiring an additional 4,843,146 shares during the last quarter. Swedbank AB purchased a new position in Cisco Systems during the first quarter valued at $840,538,000. Finally, Price T Rowe Associates Inc. MD increased its holdings in Cisco Systems by 26.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,858,505 shares of the network equipment provider’s stock valued at $691,678,000 after acquiring an additional 2,906,357 shares during the last quarter. 73.33% of the stock is owned by hedge funds and other institutional investors.

Cisco Systems Price Performance

NASDAQ CSCO opened at $56.40 on Friday. The company has a market cap of $227.23 billion, a PE ratio of 18.99, a P/E/G ratio of 4.22 and a beta of 0.83. The firm’s 50 day moving average price is $50.95 and its 200-day moving average price is $48.56. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.83 and a current ratio of 0.91. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $56.58.

Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.02. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The business had revenue of $13.64 billion for the quarter, compared to analysts’ expectations of $13.53 billion. During the same quarter last year, the firm earned $1.01 EPS. The business’s revenue for the quarter was down 10.3% on a year-over-year basis. Sell-side analysts forecast that Cisco Systems, Inc. will post 2.9 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.84%. The ex-dividend date of this dividend is Wednesday, October 2nd. Cisco Systems’s payout ratio is 53.87%.

Insider Activity

In related news, EVP Thimaya K. Subaiya sold 8,270 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $50.33, for a total transaction of $416,229.10. Following the completion of the transaction, the executive vice president now owns 135,544 shares in the company, valued at $6,821,929.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, EVP Thimaya K. Subaiya sold 8,270 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $50.33, for a total transaction of $416,229.10. Following the transaction, the executive vice president now directly owns 135,544 shares in the company, valued at $6,821,929.52. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Charles Robbins sold 27,143 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $49.45, for a total value of $1,342,221.35. Following the completion of the sale, the chief executive officer now owns 683,403 shares of the company’s stock, valued at approximately $33,794,278.35. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 70,529 shares of company stock worth $3,509,049. Corporate insiders own 0.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Evercore ISI increased their price objective on shares of Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Friday, September 20th. Hsbc Global Res upgraded Cisco Systems to a “strong-buy” rating in a report on Friday, August 16th. Piper Sandler reaffirmed a “neutral” rating and set a $52.00 price objective on shares of Cisco Systems in a report on Thursday, August 15th. Citigroup raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and raised their target price for the company from $52.00 to $62.00 in a report on Wednesday. Finally, Tigress Financial upped their price target on shares of Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a research note on Monday. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $56.74.

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.