Sound Income Strategies LLC Boosts Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Sound Income Strategies LLC boosted its stake in Cisco Systems, Inc. (NASDAQ:CSCO – Get Rating) by 13.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 224,548 shares of the network equipment provider’s stock after acquiring an additional 25,929 shares during the period. Cisco Systems comprises approximately 1.4% of Sound Income Strategies LLC’s portfolio, making the stock its 20th largest position. Sound Income Strategies LLC’s holdings in Cisco Systems were worth $10,697,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. MADDEN SECURITIES Corp boosted its stake in shares of Cisco Systems by 3.6% during the 4th quarter. MADDEN SECURITIES Corp now owns 5,976 shares of the network equipment provider’s stock worth $285,000 after acquiring an additional 210 shares in the last quarter. Dearborn Partners LLC raised its holdings in Cisco Systems by 0.5% during the third quarter. Dearborn Partners LLC now owns 46,849 shares of the network equipment provider’s stock worth $1,874,000 after purchasing an additional 212 shares during the last quarter. Peninsula Wealth LLC boosted its position in Cisco Systems by 2.9% during the third quarter. Peninsula Wealth LLC now owns 8,030 shares of the network equipment provider’s stock worth $321,000 after purchasing an additional 224 shares in the last quarter. Gilbert & Cook Inc. boosted its position in Cisco Systems by 1.3% during the third quarter. Gilbert & Cook Inc. now owns 18,679 shares of the network equipment provider’s stock worth $833,000 after purchasing an additional 231 shares in the last quarter. Finally, Spinnaker Trust grew its holdings in Cisco Systems by 0.3% in the third quarter. Spinnaker Trust now owns 91,276 shares of the network equipment provider’s stock valued at $3,651,000 after purchasing an additional 233 shares during the last quarter. Institutional investors and hedge funds own 71.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Raymond James increased their price objective on shares of Cisco Systems from $59.00 to $63.00 and gave the company an “outperform” rating in a research note on Thursday, February 16th. Credit Suisse Group lifted their price objective on Cisco Systems from $67.00 to $69.00 and gave the stock an “outperform” rating in a research report on Thursday, February 16th. Wells Fargo & Company increased their target price on Cisco Systems from $52.00 to $57.00 and gave the company an “equal weight” rating in a report on Thursday, February 16th. Piper Sandler boosted their price target on Cisco Systems from $49.00 to $53.00 and gave the stock a “neutral” rating in a report on Thursday, February 16th. Finally, UBS Group increased their price objective on Cisco Systems from $48.00 to $51.00 and gave the company a “neutral” rating in a research note on Thursday, February 16th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $56.38.

Cisco Systems Price Performance

CSCO opened at $50.19 on Friday. The company has a 50 day moving average of $48.59 and a two-hundred day moving average of $46.33. Cisco Systems, Inc. has a 52-week low of $38.60 and a 52-week high of $56.94. The company has a quick ratio of 1.30, a current ratio of 1.41 and a debt-to-equity ratio of 0.18. The company has a market cap of $205.57 billion, a P/E ratio of 18.38, a P/E/G ratio of 2.31 and a beta of 1.00.

Cisco Systems (NASDAQ:CSCO – Get Rating) last issued its quarterly earnings data on Wednesday, February 15th. The network equipment provider reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.12. The company had revenue of $13.59 billion for the quarter, compared to analysts’ expectations of $13.41 billion. Cisco Systems had a return on equity of 31.19% and a net margin of 21.26%. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.77 earnings per share. On average, analysts expect that Cisco Systems, Inc. will post 3.34 earnings per share for the current year.

Cisco Systems Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 26th. Stockholders of record on Wednesday, April 5th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Tuesday, April 4th. This is an increase from Cisco Systems’s previous quarterly dividend of $0.38. This represents a $1.56 annualized dividend and a dividend yield of 3.11%. Cisco Systems’s dividend payout ratio is 55.68%.

Insider Activity at Cisco Systems

In other Cisco Systems news, SVP Prat Bhatt sold 608 shares of the company’s stock in a transaction dated Tuesday, March 14th. The shares were sold at an average price of $48.74, for a total value of $29,633.92. Following the completion of the transaction, the senior vice president now directly owns 50,162 shares of the company’s stock, valued at approximately $2,444,895.88. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, EVP Deborah L. Stahlkopf sold 23,701 shares of Cisco Systems stock in a transaction on Friday, February 17th. The shares were sold at an average price of $50.90, for a total value of $1,206,380.90. Following the completion of the sale, the executive vice president now owns 184,853 shares in the company, valued at $9,409,017.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Prat Bhatt sold 608 shares of the company’s stock in a transaction on Tuesday, March 14th. The shares were sold at an average price of $48.74, for a total transaction of $29,633.92. Following the completion of the sale, the senior vice president now directly owns 50,162 shares in the company, valued at $2,444,895.88. The disclosure for this sale can be found here. In the last three months, insiders sold 47,568 shares of company stock valued at $2,376,624. Corporate insiders own 0.02% of the company’s stock.

Cisco Systems Company Profile

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Cisco Systems, Inc engages in the design, manufacture, and sale of Internet Protocol-based networking products and services related to the communications and information technology industry. The firm operates through the following geographical segments: the Americas, EMEA, and APJC. Its products include the following categories: Switches, Routers, Wireless, Network Management Interfaces and Modules, Optical Networking, Access Points, Outdoor and Industrial Access Points, Next-Generation Firewalls, Advanced Malware Protection, VPN Security Clients, Email, and Web Security.