Sound Income Strategies LLC Sells 29,299 Shares of Cisco Systems, Inc. $CSCO

Sound Income Strategies LLC trimmed its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 8.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 305,456 shares of the network equipment provider’s stock after selling 29,299 shares during the period. Cisco Systems makes up approximately 1.1% of Sound Income Strategies LLC’s holdings, making the stock its 19th largest holding. Sound Income Strategies LLC’s holdings in Cisco Systems were worth $22,967,000 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 CSCO. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Cisco Systems by 6.9% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,189,645 shares of the network equipment provider’s stock valued at $218,236,000 after purchasing an additional 205,043 shares in the last quarter. Greystone Financial Group LLC acquired a new stake in Cisco Systems during the third quarter valued at approximately $8,563,000. Jones Financial Companies Lllp boosted its holdings in Cisco Systems by 8.9% during the third quarter. Jones Financial Companies Lllp now owns 686,469 shares of the network equipment provider’s stock valued at $46,165,000 after purchasing an additional 56,057 shares in the last quarter. Rockland Trust Co. boosted its holdings in Cisco Systems by 213.8% during the third quarter. Rockland Trust Co. now owns 20,497 shares of the network equipment provider’s stock valued at $1,402,000 after purchasing an additional 13,966 shares in the last quarter. Finally, CX Institutional boosted its holdings in Cisco Systems by 11.0% during the third quarter. CX Institutional now owns 144,336 shares of the network equipment provider’s stock valued at $9,875,000 after purchasing an additional 14,334 shares in the last quarter. 73.33% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Cisco Systems news, insider Jeetendra I. Patel sold 11,248 shares of the company’s stock in a transaction on Friday, February 13th. The stock was sold at an average price of $76.00, for a total transaction of $854,848.00. Following the transaction, the insider owned 262,776 shares of the company’s stock, valued at approximately $19,970,976. This represents a 4.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Charles Robbins sold 19,545 shares of the company’s stock in a transaction on Friday, February 13th. The stock was sold at an average price of $76.00, for a total value of $1,485,420.00. Following the transaction, the chief executive officer directly owned 671,095 shares in the company, valued at approximately $51,003,220. This represents a 2.83% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 46,431 shares of company stock worth $3,574,820 over the last ninety days. 0.01% of the stock is owned by insiders.

Cisco Systems Stock Up 1.8%

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

Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, February 11th. The network equipment provider reported $1.04 EPS for the quarter, topping the consensus estimate of $1.02 by $0.02. The business had revenue of $15.35 billion for the quarter, compared to the consensus estimate of $15.11 billion. Cisco Systems had a return on equity of 27.88% and a net margin of 19.22%.Cisco Systems’s revenue was up 9.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.94 EPS. As a group, sell-side analysts predict that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on CSCO. Wall Street Zen downgraded Cisco Systems from a “buy” rating to a “hold” rating in a report on Saturday, March 14th. UBS Group lifted their price objective on Cisco Systems from $90.00 to $95.00 and gave the company a “buy” rating in a report on Thursday, February 12th. Erste Group Bank downgraded Cisco Systems from a “buy” rating to a “hold” rating in a report on Wednesday, February 18th. CICC Research boosted their target price on Cisco Systems from $84.00 to $96.00 and gave the stock an “outperform” rating in a report on Friday, February 13th. Finally, JPMorgan Chase & Co. boosted their target price on Cisco Systems from $90.00 to $95.00 and gave the stock an “overweight” rating in a report on Monday, February 9th. Four equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $89.76.

Cisco Systems Company 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.