Sound Income Strategies LLC Purchases 28,372 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Sound Income Strategies LLC increased its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 8.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 361,853 shares of the network equipment provider’s stock after purchasing an additional 28,372 shares during the quarter. Cisco Systems makes up 1.3% of Sound Income Strategies LLC’s portfolio, making the stock its 20th biggest position. Sound Income Strategies LLC’s holdings in Cisco Systems were worth $21,422,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Street Corp increased its holdings in Cisco Systems by 1.7% in 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 during the last quarter. Geode Capital Management LLC increased its stake in shares of Cisco Systems by 1.3% in 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 acquiring an additional 1,262,017 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Cisco Systems by 2.1% during 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 acquiring an additional 1,677,383 shares during the last quarter. FMR LLC boosted its stake in Cisco Systems by 10.1% during the 3rd quarter. FMR LLC now owns 63,931,461 shares of the network equipment provider’s stock worth $3,402,432,000 after acquiring an additional 5,885,879 shares during the last quarter. Finally, Legal & General Group Plc grew 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 purchasing an additional 1,530,468 shares during the period. 73.33% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on CSCO shares. Piper Sandler lifted their price target on shares of Cisco Systems from $52.00 to $57.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. Tigress Financial lifted their target price on Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a report on Monday, October 14th. JPMorgan Chase & Co. upgraded Cisco Systems from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $55.00 to $66.00 in a report on Monday, November 11th. Wells Fargo & Company lifted their price objective on Cisco Systems from $57.00 to $60.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. Finally, Citigroup boosted their price objective on Cisco Systems from $64.00 to $68.00 and gave the company a “buy” rating in a research report on Friday, January 17th. Eight research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Cisco Systems has a consensus rating of “Moderate Buy” and a consensus price target of $61.50.

Cisco Systems Price Performance

NASDAQ:CSCO opened at $62.23 on Friday. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $62.32. The company has a market cap of $247.85 billion, a P/E ratio of 26.71, a P/E/G ratio of 4.59 and a beta of 0.84. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88. The stock’s 50-day simple moving average is $59.04 and its 200 day simple moving average is $53.86.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $13.78 billion. During the same quarter in the prior year, the business posted $0.98 EPS. The business’s revenue was down 5.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Cisco Systems, Inc. will post 2.97 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

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

Insider Activity at Cisco Systems

In other news, CEO Charles Robbins sold 171,744 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $57.49, for a total value of $9,873,562.56. Following the completion of the sale, the chief executive officer now directly owns 783,786 shares of the company’s stock, valued at $45,059,857.14. This trade represents a 17.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Deborah L. Stahlkopf sold 58,188 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 219,100 shares in the company, valued at $12,596,059. The trade was a 20.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 353,522 shares of company stock worth $20,349,721. 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.