Eagle Rock Investment Company LLC Trims Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Eagle Rock Investment Company LLC lessened its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 4.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 137,685 shares of the network equipment provider's stock after selling 6,985 shares during the period. Cisco Systems makes up 1.5% of Eagle Rock Investment Company LLC's holdings, making the stock its 19th biggest position. Eagle Rock Investment Company LLC's holdings in Cisco Systems were worth $8,497,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Glass Jacobson Investment Advisors llc grew its stake in Cisco Systems by 8.7% in the 4th quarter. Glass Jacobson Investment Advisors llc now owns 2,070 shares of the network equipment provider's stock worth $123,000 after acquiring an additional 166 shares during the period. Fairhaven Wealth Management LLC grew its stake in Cisco Systems by 2.3% in the 4th quarter. Fairhaven Wealth Management LLC now owns 7,581 shares of the network equipment provider's stock worth $449,000 after acquiring an additional 167 shares during the period. BlackDiamond Wealth Management LLC grew its stake in Cisco Systems by 3.1% in the 4th quarter. BlackDiamond Wealth Management LLC now owns 5,656 shares of the network equipment provider's stock worth $335,000 after acquiring an additional 168 shares during the period. Legacy Financial Group Inc. grew its stake in Cisco Systems by 3.4% in the 4th quarter. Legacy Financial Group Inc. now owns 5,100 shares of the network equipment provider's stock worth $302,000 after acquiring an additional 169 shares during the period. Finally, Maple Capital Management Inc. boosted its holdings in shares of Cisco Systems by 1.4% in the 4th quarter. Maple Capital Management Inc. now owns 11,984 shares of the network equipment provider's stock valued at $709,000 after purchasing an additional 170 shares during the last quarter. Hedge funds and other institutional investors own 73.33% of the company's stock.

Cisco Systems Stock Performance

NASDAQ:CSCO opened at $66.06 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.87 and a quick ratio of 0.79. The firm has a 50-day moving average of $59.61 and a two-hundred day moving average of $60.34. The stock has a market cap of $261.60 billion, a P/E ratio of 28.85, a PEG ratio of 4.16 and a beta of 0.88. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $66.50.

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

Cisco Systems declared that its Board of Directors has initiated a share buyback program on Wednesday, February 12th that allows the company to repurchase $15.00 billion in outstanding shares. This repurchase authorization allows the network equipment provider to buy up to 6% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's leadership believes its stock is undervalued.

Cisco Systems Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be given a dividend of $0.41 per share. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a $1.64 annualized dividend and a dividend yield of 2.48%. Cisco Systems's payout ratio is 66.94%.

Insider Transactions at Cisco Systems

In other Cisco Systems news, EVP Thimaya K. Subaiya sold 2,065 shares of the firm's stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $60.70, for a total value of $125,345.50. Following the transaction, the executive vice president now owns 191,184 shares of the company's stock, valued at $11,604,868.80. This trade represents a 1.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Maria Victoria Wong sold 762 shares of the firm's stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $60.99, for a total transaction of $46,474.38. Following the completion of the transaction, the senior vice president now directly owns 44,155 shares in the company, valued at $2,693,013.45. This represents a 1.70% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 71,400 shares of company stock valued at $4,564,439. Insiders own 0.01% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Wells Fargo & Company upgraded shares of Cisco Systems from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $72.00 to $75.00 in a report on Thursday, May 15th. JPMorgan Chase & Co. lifted their price target on shares of Cisco Systems from $70.00 to $73.00 and gave the company an "overweight" rating in a report on Thursday, May 15th. Wall Street Zen upgraded shares of Cisco Systems from a "buy" rating to a "strong-buy" rating in a report on Friday, May 16th. Barclays reiterated an "equal weight" rating on shares of Cisco Systems in a report on Wednesday, May 21st. Finally, The Goldman Sachs Group lifted their price target on shares of Cisco Systems from $56.00 to $63.00 and gave the company a "neutral" rating in a report on Thursday, February 13th. Eight research analysts have rated the stock with a hold rating, twelve have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $68.00.

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.

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