Strait & Sound Wealth Management LLC Acquires 564 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Strait & Sound Wealth Management LLC boosted its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCOFree Report) by 2.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 23,296 shares of the network equipment provider’s stock after buying an additional 564 shares during the quarter. Cisco Systems makes up approximately 0.7% of Strait & Sound Wealth Management LLC’s portfolio, making the stock its 27th largest holding. Strait & Sound Wealth Management LLC’s holdings in Cisco Systems were worth $1,172,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Valued Wealth Advisors LLC purchased a new stake in Cisco Systems in the 4th quarter worth about $32,000. Delos Wealth Advisors LLC boosted its holdings in Cisco Systems by 1,666.7% in the 4th quarter. Delos Wealth Advisors LLC now owns 636 shares of the network equipment provider’s stock worth $32,000 after buying an additional 600 shares during the period. DiNuzzo Private Wealth Inc. purchased a new position in Cisco Systems in the 4th quarter valued at approximately $33,000. Morton Brown Family Wealth LLC boosted its holdings in shares of Cisco Systems by 41.9% in the fourth quarter. Morton Brown Family Wealth LLC now owns 704 shares of the network equipment provider’s stock worth $36,000 after acquiring an additional 208 shares during the period. Finally, Bourgeon Capital Management LLC grew its position in shares of Cisco Systems by 3,500.0% in the fourth quarter. Bourgeon Capital Management LLC now owns 720 shares of the network equipment provider’s stock valued at $36,000 after purchasing an additional 700 shares in the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Insider Activity

In related news, EVP Deborah L. Stahlkopf sold 3,002 shares of Cisco Systems stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $50.01, for a total value of $150,130.02. Following the sale, the executive vice president now owns 191,559 shares in the company, valued at $9,579,865.59. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, SVP Maria Victoria Wong sold 2,497 shares of Cisco Systems stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $50.00, for a total transaction of $124,850.00. Following the sale, the senior vice president now directly owns 58,121 shares in the company, valued at $2,906,050. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Deborah L. Stahlkopf sold 3,002 shares of the company’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $50.01, for a total transaction of $150,130.02. Following the completion of the sale, the executive vice president now directly owns 191,559 shares in the company, valued at $9,579,865.59. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,441 shares of company stock valued at $972,080. Company insiders own 0.02% of the company’s stock.

Cisco Systems Trading Down 0.4 %

CSCO stock traded down $0.17 during midday trading on Friday, hitting $48.17. The company had a trading volume of 22,020,305 shares, compared to its average volume of 18,663,308. The company has a current ratio of 0.89, a quick ratio of 1.26 and a debt-to-equity ratio of 0.44. Cisco Systems, Inc. has a 52 week low of $45.70 and a 52 week high of $58.19. The stock has a market cap of $195.05 billion, a price-to-earnings ratio of 16.22, a PEG ratio of 2.79 and a beta of 0.87. The stock’s 50 day moving average price is $48.69 and its 200 day moving average price is $49.52.

Cisco Systems (NASDAQ:CSCOGet Free Report) last issued its quarterly earnings data on Wednesday, May 15th. The network equipment provider reported $0.88 EPS for the quarter, beating the consensus estimate of $0.70 by $0.18. The firm had revenue of $12.70 billion during the quarter, compared to the consensus estimate of $12.53 billion. Cisco Systems had a net margin of 21.88% and a return on equity of 30.82%. The company’s quarterly revenue was down 12.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.88 earnings per share. As a group, equities research analysts expect that Cisco Systems, Inc. will post 3.13 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 24th. Stockholders of record on Friday, July 5th will be given a $0.40 dividend. The ex-dividend date is Friday, July 5th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.32%. Cisco Systems’s dividend payout ratio is currently 53.87%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on CSCO. StockNews.com upgraded Cisco Systems from a “hold” rating to a “buy” rating in a research report on Monday, May 13th. Bank of America upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and increased their target price for the stock from $55.00 to $60.00 in a research note on Monday, April 15th. Barclays boosted their price target on shares of Cisco Systems from $48.00 to $50.00 and gave the company an “equal weight” rating in a research report on Friday. Needham & Company LLC reiterated a “hold” rating on shares of Cisco Systems in a research report on Thursday. Finally, Morgan Stanley started coverage on Cisco Systems in a research report on Tuesday, April 9th. They set an “overweight” rating and a $58.00 target price for the company. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $56.47.

Read Our Latest Research Report on Cisco Systems

Cisco Systems Company 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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Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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