Sound Income Strategies LLC Raises Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

by · The Cerbat Gem

Sound Income Strategies LLC boosted its stake in Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 3.3% in the third quarter, HoldingsChannel reports. The firm 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 approximately 1.1% of Sound Income Strategies LLC’s holdings, making the stock its 25th largest holding. Sound Income Strategies LLC’s holdings in Cisco Systems were worth $17,748,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cypress Wealth Services LLC grew its stake in shares of Cisco Systems by 1.7% during the 3rd quarter. Cypress Wealth Services LLC now owns 12,161 shares of the network equipment provider’s stock valued at $647,000 after purchasing an additional 198 shares during the period. Baker Boyer National Bank raised its position in Cisco Systems by 2.6% in the first quarter. Baker Boyer National Bank now owns 8,237 shares of the network equipment provider’s stock worth $411,000 after acquiring an additional 210 shares during the period. Holland Advisory Services Inc. boosted its stake in shares of Cisco Systems by 5.3% during the 1st quarter. Holland Advisory Services Inc. now owns 4,231 shares of the network equipment provider’s stock worth $211,000 after acquiring an additional 213 shares during the last quarter. WealthPLAN Partners LLC increased its stake in shares of Cisco Systems by 3.0% in the 1st quarter. WealthPLAN Partners LLC now owns 7,385 shares of the network equipment provider’s stock worth $369,000 after purchasing an additional 213 shares in the last quarter. Finally, Ruedi Wealth Management Inc. raised its holdings in Cisco Systems by 17.6% in the 1st quarter. Ruedi Wealth Management Inc. now owns 1,454 shares of the network equipment provider’s stock worth $73,000 after purchasing an additional 218 shares during the period. 73.33% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Hsbc Global Res raised Cisco Systems to a “strong-buy” rating in a research note on Friday, August 16th. New Street Research upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 target price on the stock in a research note on Thursday, August 15th. Evercore ISI increased their price objective on shares of Cisco Systems from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Friday, September 20th. Barclays lowered 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 note on Thursday, August 15th. Finally, HSBC raised shares of Cisco Systems from a “hold” rating to a “buy” rating and increased their price objective for the company from $46.00 to $58.00 in a report on Friday, August 16th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $55.00.

Check Out Our Latest Stock Analysis on Cisco Systems

Cisco Systems Trading Up 1.3 %

NASDAQ:CSCO traded up $0.71 during mid-day trading on Friday, hitting $54.25. 12,704,525 shares of the stock traded hands, compared to its average volume of 19,161,271. The company has a quick ratio of 0.83, a current ratio of 0.91 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $216.50 billion, a price-to-earnings ratio of 21.36, a PEG ratio of 4.22 and a beta of 0.83. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $54.58. The firm’s 50 day moving average is $50.14 and its two-hundred day moving average is $48.40.

Cisco Systems (NASDAQ:CSCO – Get Free Report) last issued its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.02. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The firm had revenue of $13.64 billion for the quarter, compared to the consensus estimate of $13.53 billion. During the same period in the prior year, the business posted $1.01 earnings per share. The company’s revenue for the quarter was down 10.3% on a year-over-year basis. On average, equities research analysts predict that Cisco Systems, Inc. will post 2.9 earnings per share for the current year.

Cisco Systems Dividend Announcement

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

Insider Buying and Selling

In related news, SVP Maria Victoria Wong sold 638 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $49.09, for a total value of $31,319.42. Following the transaction, the senior vice president now owns 46,017 shares of the company’s stock, valued at $2,258,974.53. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Maria Victoria Wong sold 638 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $49.09, for a total value of $31,319.42. Following the completion of the sale, the senior vice president now directly owns 46,017 shares of the company’s stock, valued at $2,258,974.53. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Thimaya K. Subaiya sold 1,328 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $48.92, for a total transaction of $64,965.76. Following the transaction, the executive vice president now directly owns 132,910 shares in the company, valued at $6,501,957.20. This trade 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 in the last 90 days. Company insiders own 0.02% of the company’s stock.

Cisco Systems Profile

(Free Report)

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.

Further Reading

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