Cisco Systems, Inc. (NASDAQ:CSCO) Shares Acquired by Sound Income Strategies LLC

Sound Income Strategies LLC grew its stake in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 3.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 373,274 shares of the network equipment provider's stock after buying an additional 11,421 shares during the quarter. Cisco Systems accounts for about 1.4% of Sound Income Strategies LLC's portfolio, making the stock its 17th largest holding. Sound Income Strategies LLC's holdings in Cisco Systems were worth $23,035,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of CSCO. FMR LLC increased its stake in Cisco Systems by 20.8% during the 4th quarter. FMR LLC now owns 77,216,513 shares of the network equipment provider's stock worth $4,571,218,000 after buying an additional 13,285,052 shares in the last quarter. Norges Bank purchased a new stake in Cisco Systems during the 4th quarter worth approximately $3,297,905,000. Northern Trust Corp increased its stake in Cisco Systems by 11.4% during the 4th quarter. Northern Trust Corp now owns 47,238,258 shares of the network equipment provider's stock worth $2,796,505,000 after buying an additional 4,832,813 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Cisco Systems by 7.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 36,471,275 shares of the network equipment provider's stock worth $2,159,099,000 after buying an additional 2,637,006 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Cisco Systems by 2.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 29,419,041 shares of the network equipment provider's stock worth $1,741,597,000 after purchasing an additional 681,555 shares during the last quarter. Institutional investors and hedge funds own 73.33% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CSCO. Morgan Stanley restated a "hold" rating on shares of Cisco Systems in a report on Wednesday, May 21st. Piper Sandler boosted their target price on Cisco Systems from $60.00 to $64.00 and gave the stock a "neutral" rating in a report on Thursday, May 15th. DZ Bank upgraded Cisco Systems from a "hold" rating to a "buy" rating in a report on Tuesday, February 18th. Evercore ISI upped their price objective on Cisco Systems from $67.00 to $72.00 and gave the company an "outperform" rating in a report on Thursday, May 15th. Finally, Wells Fargo & Company upgraded Cisco Systems from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $72.00 to $75.00 in a report on Thursday, May 15th. Eight research analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $68.00.

Insider Activity at Cisco Systems

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 9,643 shares of the firm's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $63.50, for a total transaction of $612,330.50. Following the transaction, the executive vice president now owns 181,186 shares of the company's stock, valued at approximately $11,505,311. This trade represents a 5.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Charles Robbins sold 29,784 shares of the firm's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $64.61, for a total value of $1,924,344.24. Following the transaction, the chief executive officer now directly owns 688,409 shares in the company, valued at approximately $44,478,105.49. The trade was a 4.15% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 72,931 shares of company stock valued at $4,671,930 over the last quarter. 0.01% of the stock is owned by insiders.

Cisco Systems Stock Down 1.6%

NASDAQ:CSCO traded down $1.01 during trading hours on Friday, hitting $64.09. The company's stock had a trading volume of 14,630,776 shares, compared to its average volume of 20,161,810. The stock has a market capitalization of $253.80 billion, a P/E ratio of 27.99, a price-to-earnings-growth ratio of 4.16 and a beta of 0.88. The stock has a fifty day moving average of $60.47 and a 200-day moving average of $60.57. The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $66.50.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last posted its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, beating the consensus estimate of $0.92 by $0.04. The firm had revenue of $14.15 billion for the quarter, compared to analyst estimates of $14.05 billion. Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. Cisco Systems's revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.88 earnings per share. On average, equities analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current year.

Cisco Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be issued a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 2.56%. The ex-dividend date is Thursday, July 3rd. Cisco Systems's dividend payout ratio (DPR) is presently 66.94%.

Cisco Systems 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.