Good Life Advisors LLC Sells 23,823 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Good Life Advisors LLC trimmed its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 61.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). 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 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Pflug Koory LLC raised its stake in Cisco Systems by 0.5% in the fourth quarter. Pflug Koory LLC now owns 33,026 shares of the network equipment provider's stock valued at $1,955,000 after buying an additional 165 shares during the period. Pathway Financial Advisors LLC raised its stake in Cisco Systems by 3.1% in the fourth quarter. Pathway Financial Advisors LLC now owns 5,791 shares of the network equipment provider's stock valued at $343,000 after buying an additional 172 shares during the period. Beaumont Financial Advisors LLC raised its stake in 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 valued at $627,000 after buying an additional 173 shares during the period. SeaCrest Wealth Management LLC raised its stake in 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 buying an additional 178 shares during the period. Finally, Aviso Wealth Management raised its stake in Cisco Systems by 2.4% in the third quarter. Aviso Wealth Management now owns 7,615 shares of the network equipment provider's stock valued at $405,000 after buying an additional 181 shares during the period. 73.33% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on the company. BNP Paribas upgraded Cisco Systems from a "neutral" rating to an "outperform" rating and set a $72.00 price objective on the stock in a research note on Tuesday, January 28th. The Goldman Sachs Group increased their target price on Cisco Systems from $56.00 to $63.00 and gave the stock a "neutral" rating in a research note on Thursday, February 13th. Piper Sandler increased their target price on Cisco Systems from $57.00 to $72.00 and gave the stock a "neutral" rating in a research note on Thursday, February 13th. DZ Bank upgraded Cisco Systems from a "hold" rating to a "buy" rating in a research note on Tuesday. Finally, Morgan Stanley increased their target price on Cisco Systems from $62.00 to $68.00 and gave the stock an "overweight" rating in a research note on Tuesday, December 17th. Seven analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat, Cisco Systems currently has a consensus rating of "Moderate Buy" and an average target price of $66.53.

Insider Activity at Cisco Systems

In related news, SVP Maria Victoria Wong sold 586 shares of the firm's stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $58.69, for a total transaction of $34,392.34. Following the sale, the senior vice president now owns 50,767 shares of the company's stock, valued at $2,979,515.23. This trade represents a 1.14 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Charles Robbins sold 31,983 shares of the firm's stock in a transaction 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 sale, the chief executive officer now directly owns 736,120 shares in the company, valued at approximately $47,413,489.20. This trade represents a 4.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 67,921 shares of company stock valued at $4,298,667 in the last 90 days. 0.01% of the stock is owned by corporate insiders.

Cisco Systems Price Performance

Shares of CSCO stock traded down $0.73 during trading hours on Friday, reaching $63.95. The company's stock had a trading volume of 8,226,917 shares, compared to its average volume of 19,441,154. The firm's 50 day simple moving average is $60.55 and its 200-day simple moving average is $56.01. The company has a market capitalization of $254.39 billion, a price-to-earnings ratio of 27.92, a PEG ratio of 4.17 and a beta of 0.84. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $66.50. 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 (NASDAQ:CSCO - Get Free Report) last issued 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%. Sell-side analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Thursday, April 3rd will be issued a dividend of $0.41 per share. This is an increase from Cisco Systems's previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $1.64 annualized dividend and a dividend yield of 2.56%. Cisco Systems's dividend payout ratio (DPR) is 71.62%.

Cisco Systems declared that its Board of Directors has approved a stock buyback program on Wednesday, February 12th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the network equipment provider to repurchase up to 6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's management believes its shares are undervalued.

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.