Good Life Advisors LLC Decreases Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Good Life Advisors LLC cut its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 61.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,217 shares of the network equipment provider’s stock after selling 23,823 shares during the quarter. Good Life Advisors LLC’s holdings in Cisco Systems were worth $901,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CSCO. Pflug Koory LLC boosted its holdings in Cisco Systems by 0.5% in the 4th quarter. Pflug Koory LLC now owns 33,026 shares of the network equipment provider’s stock worth $1,955,000 after buying an additional 165 shares during the period. Pathway Financial Advisors LLC lifted its position in shares of Cisco Systems by 3.1% during the fourth quarter. Pathway Financial Advisors LLC now owns 5,791 shares of the network equipment provider’s stock worth $343,000 after acquiring an additional 172 shares in the last quarter. Beaumont Financial Advisors LLC boosted its holdings in shares of Cisco Systems by 1.7% in 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 during the period. SeaCrest Wealth Management LLC grew its position in shares of Cisco Systems by 0.6% in 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 purchasing an additional 178 shares in the last quarter. Finally, Aviso Wealth Management lifted its holdings in Cisco Systems by 2.4% during the 3rd quarter. Aviso Wealth Management now owns 7,615 shares of the network equipment provider’s stock worth $405,000 after purchasing an additional 181 shares in the last quarter. Institutional investors own 73.33% of the company’s stock.

Insider Activity

In other Cisco Systems news, Director Kristina M. Johnson sold 7,500 shares of the company’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $59.87, for a total transaction of $449,025.00. Following the transaction, the director now owns 65,915 shares in the company, valued at approximately $3,946,331.05. This represents a 10.22 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Charles Robbins sold 31,983 shares of the firm’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 approximately $47,413,489.20. The trade was a 4.16 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 67,921 shares of company stock valued at $4,298,667. Company insiders own 0.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CSCO. Piper Sandler upped their price target on Cisco Systems from $57.00 to $72.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. JPMorgan Chase & Co. increased their target price on shares of Cisco Systems from $69.00 to $73.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. BNP Paribas upgraded shares of Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 price target for the company in a research report on Tuesday, January 28th. StockNews.com upgraded Cisco Systems from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 14th. Finally, Citigroup boosted their target price on Cisco Systems from $68.00 to $71.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Seven research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $66.53.

Cisco Systems Stock Performance

Cisco Systems stock opened at $64.84 on Thursday. The firm has a fifty day simple moving average of $60.43 and a two-hundred day simple moving average of $55.95. 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 twelve month low of $44.50 and a twelve month high of $66.50. The company has a market capitalization of $258.24 billion, a PE ratio of 28.31, a P/E/G ratio of 4.55 and a beta of 0.84.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.14). Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. Research analysts expect that Cisco Systems, Inc. will post 3.01 EPS for the current year.

Cisco Systems declared that its Board of Directors has approved a stock repurchase plan on Wednesday, February 12th that permits the company to buyback $15.00 billion in shares. This buyback authorization permits the network equipment provider to reacquire up to 6% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its stock is undervalued.

Cisco Systems Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Thursday, April 3rd will be given a $0.41 dividend. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.40. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.53%. The ex-dividend date is Thursday, April 3rd. Cisco Systems’s dividend payout ratio (DPR) is currently 69.87%.

Cisco Systems Company 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.