Sound Income Strategies LLC Has $22.97 Million Stock Position in Cisco Systems, Inc. $CSCO

Sound Income Strategies LLC decreased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 8.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 305,456 shares of the network equipment provider’s stock after selling 29,299 shares during the period. Cisco Systems accounts for approximately 1.1% of Sound Income Strategies LLC’s portfolio, making the stock its 19th biggest position. Sound Income Strategies LLC’s holdings in Cisco Systems were worth $22,967,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of CSCO. Capital Management Associates Inc acquired a new stake in shares of Cisco Systems in the fourth quarter worth about $422,000. Unison Advisors LLC lifted its position in shares of Cisco Systems by 0.6% in the fourth quarter. Unison Advisors LLC now owns 67,803 shares of the network equipment provider’s stock worth $5,223,000 after buying an additional 388 shares during the last quarter. Sunburst Financial Group LLC lifted its position in shares of Cisco Systems by 1.6% in the fourth quarter. Sunburst Financial Group LLC now owns 10,975 shares of the network equipment provider’s stock worth $845,000 after buying an additional 176 shares during the last quarter. Leo Wealth LLC lifted its position in shares of Cisco Systems by 31.4% in the fourth quarter. Leo Wealth LLC now owns 54,853 shares of the network equipment provider’s stock worth $4,133,000 after buying an additional 13,095 shares during the last quarter. Finally, Walkner Condon Financial Advisors LLC lifted its position in shares of Cisco Systems by 2.0% in the fourth quarter. Walkner Condon Financial Advisors LLC now owns 7,240 shares of the network equipment provider’s stock worth $558,000 after buying an additional 144 shares during the last quarter. Institutional investors and hedge funds own 73.33% of the company’s stock.

Insiders Place Their Bets

In other news, insider Jeetendra I. Patel sold 11,248 shares of Cisco Systems stock in a transaction dated Friday, February 13th. The stock was sold at an average price of $76.00, for a total value of $854,848.00. Following the transaction, the insider directly owned 262,776 shares in the company, valued at approximately $19,970,976. The trade was a 4.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Deborah L. Stahlkopf sold 7,981 shares of Cisco Systems stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $79.50, for a total value of $634,489.50. Following the completion of the transaction, the executive vice president owned 187,097 shares in the company, valued at $14,874,211.50. The trade was a 4.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 46,431 shares of company stock valued at $3,574,820 in the last ninety days. Company insiders own 0.01% of the company’s stock.

Cisco Systems Trading Up 1.8%

Cisco Systems stock opened at $80.43 on Tuesday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.85 and a current ratio of 0.96. The business’s 50-day simple moving average is $79.43 and its 200-day simple moving average is $75.82. The firm has a market capitalization of $317.69 billion, a PE ratio of 28.22, a PEG ratio of 2.98 and a beta of 0.83. Cisco Systems, Inc. has a 52 week low of $52.11 and a 52 week high of $88.18.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, February 11th. The network equipment provider reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $1.02 by $0.02. The business had revenue of $15.35 billion for the quarter, compared to analyst estimates of $15.11 billion. Cisco Systems had a return on equity of 27.88% and a net margin of 19.22%.The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.94 earnings per share. Equities research analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 22nd. Stockholders of record on Thursday, April 2nd will be paid a $0.42 dividend. The ex-dividend date is Thursday, April 2nd. This is a boost from Cisco Systems’s previous quarterly dividend of $0.41. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.1%. Cisco Systems’s dividend payout ratio is presently 58.95%.

Analysts Set New Price Targets

A number of analysts have weighed in on CSCO shares. DZ Bank raised Cisco Systems to a “strong-buy” rating in a research report on Friday, February 13th. Evercore raised Cisco Systems from an “in-line” rating to an “outperform” rating and boosted their price target for the stock from $80.00 to $100.00 in a research report on Monday, January 26th. President Capital reduced their price target on Cisco Systems from $90.00 to $88.00 in a research report on Wednesday, December 24th. JPMorgan Chase & Co. boosted their price target on Cisco Systems from $90.00 to $95.00 and gave the stock an “overweight” rating in a research report on Monday, February 9th. Finally, HSBC boosted their price target on Cisco Systems from $74.00 to $77.00 and gave the stock a “hold” rating in a research report on Friday, February 13th. Four investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $89.76.

Cisco Systems Profile

Cisco Systems, Inc is a global technology company that designs, manufactures and sells networking hardware, software and telecommunications equipment. Its core business focuses on enabling enterprise and service-provider networks through products such as routers, switches, network security appliances and wireless systems. Over time Cisco has broadened its portfolio to emphasize software-defined networking, cybersecurity, cloud infrastructure and edge computing solutions that help organizations build and manage modern IT environments.

In addition to hardware, Cisco offers a growing range of software platforms and subscription services for network management, security, analytics and collaboration.