Lifeworks Advisors LLC Acquires 4,518 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Lifeworks Advisors LLC increased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 4.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 98,764 shares of the network equipment provider's stock after buying an additional 4,518 shares during the quarter. Cisco Systems accounts for about 1.0% of Lifeworks Advisors LLC's portfolio, making the stock its 26th biggest holding. Lifeworks Advisors LLC's holdings in Cisco Systems were worth $6,095,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. FMR LLC increased its position in shares of Cisco Systems by 20.8% during the 4th quarter. FMR LLC now owns 77,216,513 shares of the network equipment provider's stock worth $4,571,218,000 after purchasing an additional 13,285,052 shares during the last quarter. Norges Bank acquired a new position in shares of Cisco Systems during the 4th quarter worth approximately $3,297,905,000. Northern Trust Corp increased its position in shares of Cisco Systems by 11.4% during the 4th quarter. Northern Trust Corp now owns 47,238,258 shares of the network equipment provider's stock worth $2,796,505,000 after purchasing an additional 4,832,813 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Cisco Systems by 7.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 36,471,275 shares of the network equipment provider's stock worth $2,159,099,000 after purchasing an additional 2,637,006 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Cisco Systems by 2.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 29,419,041 shares of the network equipment provider's stock worth $1,741,597,000 after purchasing an additional 681,555 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Wall Street Zen lowered Cisco Systems from a "strong-buy" rating to a "buy" rating in a research report on Saturday, July 12th. Morgan Stanley lifted their target price on Cisco Systems from $67.00 to $70.00 and gave the stock an "overweight" rating in a research note on Friday, July 18th. JPMorgan Chase & Co. boosted their price target on Cisco Systems from $73.00 to $78.00 and gave the company an "overweight" rating in a research note on Thursday, July 17th. Barclays restated an "equal weight" rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Finally, Evercore ISI boosted their price target on Cisco Systems from $67.00 to $72.00 and gave the company an "outperform" rating in a research note on Thursday, May 15th. Seven research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $70.35.

Cisco Systems Price Performance

Shares of CSCO stock traded up $0.40 on Friday, hitting $68.69. 11,589,031 shares of the company's stock were exchanged, compared to its average volume of 17,593,400. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.95 and a quick ratio of 0.87. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $69.78. The stock has a market cap of $272.01 billion, a P/E ratio of 28.04, a price-to-earnings-growth ratio of 4.09 and a beta of 0.90. The company has a 50 day moving average of $66.43 and a 200 day moving average of $62.41.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.04. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. The business had revenue of $14.15 billion during the quarter, compared to the consensus estimate of $14.05 billion. During the same period in the prior year, the company earned $0.88 EPS. Cisco Systems's revenue for the quarter was up 11.4% on a year-over-year basis. On average, equities research analysts predict that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd were issued a $0.41 dividend. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a yield of 2.39%. Cisco Systems's payout ratio is presently 66.94%.

Insiders Place Their Bets

In other news, insider Jeetendra I. Patel sold 9,961 shares of the stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $63.97, for a total value of $637,205.17. Following the completion of the sale, the insider owned 257,162 shares of the company's stock, valued at approximately $16,450,653.14. This represents a 3.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Charles Robbins sold 29,784 shares of the stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $64.61, for a total value of $1,924,344.24. Following the completion of the sale, the chief executive officer directly owned 688,409 shares of the company's stock, valued at approximately $44,478,105.49. The trade was a 4.15% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 97,335 shares of company stock worth $6,271,054. Company insiders own 0.01% of the company's stock.

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 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.