Rock Point Advisors LLC Has $11.18 Million Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Rock Point Advisors LLC trimmed its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 3.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 181,226 shares of the network equipment provider's stock after selling 6,872 shares during the period. Cisco Systems accounts for approximately 3.4% of Rock Point Advisors LLC's investment portfolio, making the stock its 6th biggest position. Rock Point Advisors LLC's holdings in Cisco Systems were worth $11,183,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Cisco Systems during the 4th quarter worth approximately $3,297,905,000. FMR LLC boosted its stake in shares of Cisco Systems by 20.8% in the fourth quarter. FMR LLC now owns 77,216,513 shares of the network equipment provider's stock valued at $4,571,218,000 after buying an additional 13,285,052 shares during the period. Alyeska Investment Group L.P. acquired a new stake in Cisco Systems during the fourth quarter worth approximately $413,491,000. GAMMA Investing LLC grew its holdings in shares of Cisco Systems by 7,096.5% during the 1st quarter. GAMMA Investing LLC now owns 6,718,402 shares of the network equipment provider's stock worth $414,593,000 after purchasing an additional 6,625,045 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec increased its position in shares of Cisco Systems by 187.9% in the fourth quarter. Caisse DE Depot ET Placement DU Quebec now owns 7,478,872 shares of the network equipment provider's stock worth $442,749,000 after purchasing an additional 4,880,747 shares during the period. Institutional investors and hedge funds own 73.33% of the company's stock.

Insider Buying and Selling

In other Cisco Systems news, insider Jeetendra I. Patel sold 899 shares of the company's stock in a transaction that occurred on Thursday, June 12th. The stock was sold at an average price of $64.27, for a total transaction of $57,778.73. Following the transaction, the insider owned 255,377 shares in the company, valued at approximately $16,413,079.79. This represents a 0.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Richard Scott Herren sold 15,678 shares of the firm's 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 transaction, the chief financial officer directly owned 309,543 shares of the company's stock, valued at $20,281,257.36. This represents a 4.82% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 97,335 shares of company stock worth $6,271,054 in the last ninety days. 0.01% of the stock is currently owned by insiders.

Cisco Systems Stock Performance

CSCO stock traded down $0.51 during midday trading on Thursday, hitting $68.76. The company's stock had a trading volume of 14,970,647 shares, compared to its average volume of 20,383,426. The stock's 50-day moving average price is $64.63 and its 200 day moving average price is $61.68. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.50. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $69.78. The stock has a market cap of $272.29 billion, a price-to-earnings ratio of 28.07, a PEG ratio of 4.14 and a beta of 0.90.

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

Cisco Systems Dividend Announcement

The firm 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 annualized dividend and a dividend yield of 2.39%. The ex-dividend date is Thursday, July 3rd. Cisco Systems's dividend payout ratio (DPR) is presently 66.94%.

Analysts Set New Price Targets

Several equities analysts have commented on CSCO shares. Evercore ISI raised their target price on shares of Cisco Systems from $67.00 to $72.00 and gave the company an "outperform" rating in a report on Thursday, May 15th. Morgan Stanley restated a "hold" rating on shares of Cisco Systems in a research note on Wednesday, May 21st. New Street Research reiterated a "neutral" rating and issued a $70.00 price target on shares of Cisco Systems in a research note on Friday, May 16th. KeyCorp started coverage on Cisco Systems in a research report on Thursday, June 26th. They set an "overweight" rating and a $77.00 price objective for the company. Finally, Deutsche Bank Aktiengesellschaft raised shares of Cisco Systems from a "hold" rating to a "buy" rating and increased their target price for the stock from $65.00 to $73.00 in a report on Monday, June 16th. Eight investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $69.53.

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.