Good Life Advisors LLC Buys 8,332 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Good Life Advisors LLC raised its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 24.5% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 42,373 shares of the network equipment provider’s stock after acquiring an additional 8,332 shares during the quarter. Good Life Advisors LLC’s holdings in Cisco Systems were worth $2,192,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Sarasin & Partners LLP raised its holdings in Cisco Systems by 12.4% in the second quarter. Sarasin & Partners LLP now owns 3,260,003 shares of the network equipment provider’s stock worth $168,673,000 after purchasing an additional 359,099 shares in the last quarter. Sanders Morris Harris LLC purchased a new stake in shares of Cisco Systems in the 2nd quarter worth about $351,000. Greylin Investment Management Inc increased its stake in shares of Cisco Systems by 15.1% in the 2nd quarter. Greylin Investment Management Inc now owns 69,808 shares of the network equipment provider’s stock worth $3,612,000 after acquiring an additional 9,155 shares in the last quarter. Evanson Asset Management LLC lifted its position in Cisco Systems by 0.6% during the 2nd quarter. Evanson Asset Management LLC now owns 94,977 shares of the network equipment provider’s stock valued at $4,914,000 after acquiring an additional 586 shares during the period. Finally, First Affirmative Financial Network boosted its stake in Cisco Systems by 13.5% during the second quarter. First Affirmative Financial Network now owns 12,811 shares of the network equipment provider’s stock worth $663,000 after acquiring an additional 1,524 shares in the last quarter. Hedge funds and other institutional investors own 72.21% of the company’s stock.

Cisco Systems Trading Down 0.6 %

Cisco Systems stock opened at $56.04 on Monday. The business has a 50-day simple moving average of $54.20 and a two-hundred day simple moving average of $51.17. Cisco Systems, Inc. has a 52-week low of $38.60 and a 52-week high of $58.19. The company has a quick ratio of 1.27, a current ratio of 1.38 and a debt-to-equity ratio of 0.15. The company has a market cap of $227.23 billion, a P/E ratio of 18.25, a P/E/G ratio of 2.49 and a beta of 0.97.

Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, August 16th. The network equipment provider reported $1.14 EPS for the quarter, beating analysts’ consensus estimates of $1.06 by $0.08. The business had revenue of $15.20 billion during the quarter, compared to analysts’ expectations of $15.05 billion. Cisco Systems had a net margin of 22.13% and a return on equity of 33.42%. The firm’s revenue was up 16.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.74 earnings per share. Analysts predict that Cisco Systems, Inc. will post 3.58 EPS for the current year.

Cisco Systems Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 25th. Investors of record on Wednesday, October 4th will be given a dividend of $0.39 per share. The ex-dividend date is Tuesday, October 3rd. This represents a $1.56 annualized dividend and a yield of 2.78%. Cisco Systems’s dividend payout ratio (DPR) is presently 50.81%.

Insider Buying and Selling at Cisco Systems

In other news, CFO Richard Scott Herren sold 2,579 shares of Cisco Systems stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $50.65, for a total transaction of $130,626.35. Following the transaction, the chief financial officer now directly owns 281,493 shares of the company’s stock, valued at approximately $14,257,620.45. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CFO Richard Scott Herren sold 2,579 shares of Cisco Systems stock in a transaction on Thursday, June 22nd. The shares were sold at an average price of $50.65, for a total transaction of $130,626.35. Following the transaction, the chief financial officer now owns 281,493 shares in the company, valued at approximately $14,257,620.45. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Maria Martinez sold 10,000 shares of the stock in a transaction on Thursday, June 22nd. The stock was sold at an average price of $50.88, for a total value of $508,800.00. Following the completion of the sale, the chief operating officer now owns 414,033 shares of the company’s stock, valued at approximately $21,065,999.04. The disclosure for this sale can be found here. Over the last quarter, insiders sold 54,438 shares of company stock valued at $2,948,779. Company insiders own 0.02% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on CSCO shares. Raymond James lifted their target price on shares of Cisco Systems from $64.00 to $65.00 and gave the company an “outperform” rating in a report on Thursday, August 17th. Barclays lifted their price objective on Cisco Systems from $51.00 to $53.00 and gave the company an “equal weight” rating in a research note on Thursday, August 17th. BNP Paribas started coverage on Cisco Systems in a research note on Thursday, July 20th. They issued an “underperform” rating and a $45.00 target price on the stock. Jefferies Financial Group lifted their price target on Cisco Systems from $54.00 to $59.50 and gave the stock a “buy” rating in a research report on Thursday, August 17th. Finally, UBS Group increased their price objective on shares of Cisco Systems from $51.00 to $55.00 and gave the company a “neutral” rating in a research report on Thursday, August 17th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, Cisco Systems currently has an average rating of “Hold” and a consensus price target of $59.43.

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 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 that are standalone, controller appliance-based, switch-converged, and Meraki cloud-managed offerings; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.