Cisco Systems, Inc. (NASDAQ:CSCO) Holdings Lessened by Rock Point Advisors LLC

Rock Point Advisors LLC lowered its stake in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 3.7% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 181,226 shares of the network equipment provider's stock after selling 6,872 shares during the quarter. Cisco Systems comprises approximately 3.4% of Rock Point Advisors LLC's holdings, making the stock its 6th largest holding. Rock Point Advisors LLC's holdings in Cisco Systems were worth $11,183,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in CSCO. Navigoe LLC purchased a new stake in Cisco Systems in the 4th quarter worth about $26,000. Mpwm Advisory Solutions LLC bought a new position in Cisco Systems in the 4th quarter worth about $26,000. JDM Financial Group LLC boosted its stake in shares of Cisco Systems by 160.4% during the fourth quarter. JDM Financial Group LLC now owns 487 shares of the network equipment provider's stock valued at $29,000 after purchasing an additional 300 shares in the last quarter. Runnymede Capital Advisors Inc. bought a new position in shares of Cisco Systems during the fourth quarter valued at approximately $30,000. Finally, Campbell Capital Management Inc. bought a new position in shares of Cisco Systems during the fourth quarter valued at approximately $31,000. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on CSCO. Morgan Stanley reiterated a "hold" rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Citigroup raised their target price on shares of Cisco Systems from $68.00 to $71.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Rosenblatt Securities raised their target price on shares of Cisco Systems from $63.00 to $74.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Piper Sandler raised their target price on shares of Cisco Systems from $60.00 to $64.00 and gave the company a "neutral" rating in a research note on Thursday, May 15th. Finally, JPMorgan Chase & Co. raised their price target on shares of Cisco Systems from $70.00 to $73.00 and gave the stock an "overweight" rating in a report on Thursday, May 15th. Eight equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $69.53.

Cisco Systems Price Performance

CSCO traded down $0.71 on Friday, reaching $68.06. 8,255,925 shares of the company's stock were exchanged, compared to its average volume of 20,336,668. The stock has a market cap of $269.50 billion, a PE ratio of 27.77, a P/E/G ratio of 4.14 and a beta of 0.90. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $69.78. The stock's fifty day moving average price is $64.84 and its 200-day moving average price is $61.75. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.95 and a quick ratio of 0.87.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, topping analysts' consensus estimates of $0.92 by $0.04. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. The company had revenue of $14.15 billion for the quarter, compared to the consensus estimate of $14.05 billion. During the same period in the previous year, the firm earned $0.88 earnings per share. Cisco Systems's quarterly revenue was up 11.4% compared to the same quarter last year. Sell-side analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date of this dividend is Thursday, July 3rd. Cisco Systems's dividend payout ratio (DPR) is 66.94%.

Insider Activity at Cisco Systems

In related news, EVP Oliver Tuszik sold 15,000 shares of the stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $63.53, for a total value of $952,950.00. Following the transaction, the executive vice president owned 131,676 shares of the company's stock, valued at $8,365,376.28. This represents a 10.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Richard Scott Herren sold 15,678 shares of the stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $65.52, for a total value of $1,027,222.56. Following the completion of the transaction, the chief financial officer directly owned 309,543 shares in the company, valued at $20,281,257.36. This trade represents a 4.82% decrease in their position. The disclosure for this sale can be found here. Insiders sold 97,335 shares of company stock valued at $6,271,054 over the last ninety days. 0.01% of the stock is owned by insiders.

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.