Lifestyle Asset Management Inc. Buys New Shares in Cisco Systems, Inc. (NASDAQ:CSCO)

Lifestyle Asset Management Inc. purchased a new position in Cisco Systems, Inc. (NASDAQ:CSCO) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,032 shares of the network equipment provider’s stock, valued at approximately $239,000.

Several other institutional investors have also recently made changes to their positions in the stock. State Street Corp lifted its holdings in Cisco Systems by 1.7% during the third quarter. State Street Corp now owns 193,489,477 shares of the network equipment provider’s stock valued at $10,297,506,000 after purchasing an additional 3,241,682 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Cisco Systems by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 95,630,469 shares of the network equipment provider’s stock valued at $5,075,320,000 after buying an additional 1,262,017 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Cisco Systems by 2.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 82,720,255 shares of the network equipment provider’s stock worth $4,402,239,000 after buying an additional 1,677,383 shares during the period. FMR LLC increased its stake in Cisco Systems by 10.1% in the 3rd quarter. FMR LLC now owns 63,931,461 shares of the network equipment provider’s stock worth $3,402,432,000 after buying an additional 5,885,879 shares in the last quarter. Finally, Legal & General Group Plc raised its holdings in Cisco Systems by 3.3% during the second quarter. Legal & General Group Plc now owns 47,593,944 shares of the network equipment provider’s stock valued at $2,261,185,000 after acquiring an additional 1,530,468 shares during the period. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Up 1.0 %

Shares of NASDAQ CSCO opened at $62.23 on Friday. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $62.32. The firm has a 50-day simple moving average of $59.04 and a two-hundred day simple moving average of $53.86. The company has a market cap of $247.85 billion, a P/E ratio of 26.71, a PEG ratio of 4.54 and a beta of 0.84. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.80.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The company had revenue of $13.84 billion during the quarter, compared to analysts’ expectations of $13.78 billion. During the same quarter in the previous year, the business earned $0.98 EPS. Cisco Systems’s revenue was down 5.6% compared to the same quarter last year. Research analysts anticipate that Cisco Systems, Inc. will post 2.97 earnings per share for the current year.

Cisco Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd were issued a dividend of $0.40 per share. The ex-dividend date was Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.57%. Cisco Systems’s payout ratio is 68.67%.

Analysts Set New Price Targets

CSCO has been the subject of several research analyst reports. Melius upgraded Cisco Systems from a “hold” rating to a “buy” rating and increased their target price for the stock from $66.00 to $73.00 in a research report on Monday, January 6th. Morgan Stanley lifted their price objective on shares of Cisco Systems from $62.00 to $68.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. UBS Group upped their target price on shares of Cisco Systems from $55.00 to $62.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. Citigroup boosted their price target on shares of Cisco Systems from $64.00 to $68.00 and gave the stock a “buy” rating in a research note on Friday, January 17th. Finally, Bank of America raised their price objective on Cisco Systems from $60.00 to $72.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Eight equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $61.50.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 58,188 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $57.49, for a total value of $3,345,228.12. Following the completion of the sale, the executive vice president now directly owns 219,100 shares in the company, valued at approximately $12,596,059. This represents a 20.98 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Charles Robbins sold 171,744 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $57.49, for a total value of $9,873,562.56. Following the transaction, the chief executive officer now owns 783,786 shares in the company, valued at approximately $45,059,857.14. This represents a 17.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 353,522 shares of company stock valued at $20,349,721 in the last three months. Company insiders own 0.01% of the company’s stock.

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.