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

Sound Income Strategies LLC raised its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 3.3% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 333,481 shares of the network equipment provider’s stock after acquiring an additional 10,648 shares during the period. Cisco Systems makes up 1.1% of Sound Income Strategies LLC’s investment portfolio, making the stock its 25th largest position. Sound Income Strategies LLC’s holdings in Cisco Systems were worth $17,748,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of CSCO. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of Cisco Systems by 1,096.2% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,906,676 shares of the network equipment provider’s stock worth $146,845,000 after buying an additional 2,663,676 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in Cisco Systems by 59.3% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 775,559 shares of the network equipment provider’s stock valued at $36,847,000 after acquiring an additional 288,775 shares during the last quarter. Marcum Wealth LLC raised its position in Cisco Systems by 4.0% during the first quarter. Marcum Wealth LLC now owns 24,346 shares of the network equipment provider’s stock valued at $1,215,000 after purchasing an additional 943 shares in the last quarter. Citizens Financial Group Inc. RI boosted its holdings in shares of Cisco Systems by 24.4% in the 2nd quarter. Citizens Financial Group Inc. RI now owns 264,647 shares of the network equipment provider’s stock worth $12,573,000 after purchasing an additional 51,924 shares in the last quarter. Finally, Inscription Capital LLC increased its position in shares of Cisco Systems by 49.4% during the 1st quarter. Inscription Capital LLC now owns 45,983 shares of the network equipment provider’s stock valued at $2,300,000 after purchasing an additional 15,198 shares during the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Cisco Systems Trading Up 1.3 %

CSCO stock traded up $0.71 during trading on Friday, reaching $54.25. The company had a trading volume of 12,704,525 shares, compared to its average volume of 19,161,271. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.91 and a quick ratio of 0.83. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $54.58. The business has a 50 day moving average of $50.14 and a 200 day moving average of $48.40. The company has a market cap of $216.50 billion, a P/E ratio of 21.36, a PEG ratio of 4.22 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.02. The firm had revenue of $13.64 billion during the quarter, compared to analyst estimates of $13.53 billion. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The business’s revenue was down 10.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.01 EPS. As a group, sell-side analysts forecast that Cisco Systems, Inc. will post 2.9 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be paid a $0.40 dividend. The ex-dividend date is Wednesday, October 2nd. This represents a $1.60 annualized dividend and a dividend yield of 2.95%. Cisco Systems’s payout ratio is 62.99%.

Insider Buying and Selling

In other Cisco Systems news, CEO Charles Robbins sold 27,143 shares of Cisco Systems stock in a transaction on Friday, August 16th. The stock was sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the completion of the transaction, the chief executive officer now owns 683,403 shares in the company, valued at approximately $33,794,278.35. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Cisco Systems news, CEO Charles Robbins sold 27,143 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the completion of the sale, the chief executive officer now directly owns 683,403 shares in the company, valued at approximately $33,794,278.35. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Thimaya K. Subaiya sold 1,328 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $48.92, for a total transaction of $64,965.76. Following the completion of the transaction, the executive vice president now owns 132,910 shares in the company, valued at approximately $6,501,957.20. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 70,529 shares of company stock valued at $3,509,049 over the last quarter. Corporate insiders own 0.02% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on CSCO shares. Jefferies Financial Group reduced their price target on shares of Cisco Systems from $56.00 to $53.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. Barclays decreased their target price on shares of Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 15th. Rosenblatt Securities upped their price target on shares of Cisco Systems from $56.00 to $58.00 and gave the company a “neutral” rating in a research report on Thursday, August 15th. JPMorgan Chase & Co. raised their price objective on Cisco Systems from $53.00 to $55.00 and gave the company a “hold” rating in a research note on Thursday, August 8th. Despite investors’ hopes for a rebound in Networking Equipment demand to boost Cisco’s fourth-quarter 2024 performance, the anticipation is tempered by limited indications of a significant recovery in demand. Finally, New Street Research raised Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 target price for the company in a research note on Thursday, August 15th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $55.00.

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.