Lifeworks Advisors LLC Buys 13,167 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Lifeworks Advisors LLC lifted its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 16.5% during the 3rd quarter, Holdings Channel reports. The firm owned 92,946 shares of the network equipment provider’s stock after buying an additional 13,167 shares during the quarter. Cisco Systems makes up 1.0% of Lifeworks Advisors LLC’s investment portfolio, making the stock its 29th biggest holding. Lifeworks Advisors LLC’s holdings in Cisco Systems were worth $4,947,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Summit Securities Group LLC acquired a new stake in shares of Cisco Systems during the second quarter worth approximately $25,000. Quarry LP increased its holdings in Cisco Systems by 222.4% during the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock valued at $31,000 after purchasing an additional 456 shares in the last quarter. West Financial Advisors LLC raised its position in Cisco Systems by 116.6% in the 3rd quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock valued at $31,000 after purchasing an additional 309 shares during the last quarter. Hobbs Group Advisors LLC acquired a new position in Cisco Systems in the second quarter worth $36,000. Finally, Iron Horse Wealth Management LLC raised its holdings in shares of Cisco Systems by 617.7% in the second quarter. Iron Horse Wealth Management LLC now owns 890 shares of the network equipment provider’s stock valued at $42,000 after buying an additional 766 shares during the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Insider Activity

In related news, SVP Maria Victoria Wong sold 638 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $49.09, for a total transaction of $31,319.42. Following the sale, the senior vice president now directly owns 46,017 shares in the company, valued at $2,258,974.53. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, EVP Thimaya K. Subaiya sold 1,328 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $48.92, for a total transaction of $64,965.76. Following the completion of the transaction, the executive vice president now directly owns 132,910 shares of the company’s stock, valued at $6,501,957.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Maria Victoria Wong sold 638 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $49.09, for a total transaction of $31,319.42. Following the completion of the sale, the senior vice president now directly owns 46,017 shares in the company, valued at approximately $2,258,974.53. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 70,529 shares of company stock worth $3,509,049 over the last quarter. 0.01% of the stock is currently owned by company insiders.

Cisco Systems Trading Down 2.2 %

Shares of CSCO traded down $1.28 during trading hours on Thursday, reaching $57.90. The stock had a trading volume of 8,255,329 shares, compared to its average volume of 18,988,768. The firm has a 50-day moving average of $53.82 and a 200 day moving average of $49.64. The company has a quick ratio of 0.83, a current ratio of 0.91 and a debt-to-equity ratio of 0.43. The company has a market cap of $231.06 billion, a P/E ratio of 23.04, a P/E/G ratio of 4.86 and a beta of 0.83. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $59.38.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The company had revenue of $13.64 billion for the quarter, compared to analyst estimates of $13.53 billion. During the same quarter last year, the firm posted $1.01 earnings per share. Cisco Systems’s revenue was down 10.3% compared to the same quarter last year. On average, sell-side analysts expect that Cisco Systems, Inc. will post 2.89 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.76%. Cisco Systems’s payout ratio is currently 62.99%.

Analysts Set New Price Targets

Several research firms have weighed in on CSCO. Jefferies Financial Group lowered their price objective on shares of Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a research report on Thursday, August 15th. Tigress Financial increased their price objective on Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Piper Sandler boosted their target price on Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a research report on Thursday. Finally, StockNews.com cut Cisco Systems from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th. Twelve equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Cisco Systems currently has an average rating of “Moderate Buy” and a consensus price target of $58.68.

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.