Rogco LP Sells 8,106 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Rogco LP cut its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 30.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 18,217 shares of the network equipment provider's stock after selling 8,106 shares during the quarter. Rogco LP's holdings in Cisco Systems were worth $1,124,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. FMR LLC raised its stake in Cisco Systems by 20.8% during 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 last quarter. Norges Bank purchased a new position in shares of Cisco Systems in the 4th quarter worth $3,297,905,000. Northern Trust Corp boosted its position in Cisco Systems by 11.4% in the fourth quarter. Northern Trust Corp now owns 47,238,258 shares of the network equipment provider's stock worth $2,796,505,000 after purchasing an additional 4,832,813 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Cisco Systems by 7.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 36,471,275 shares of the network equipment provider's stock valued at $2,159,099,000 after buying an additional 2,637,006 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Cisco Systems by 2.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 29,419,041 shares of the network equipment provider's stock worth $1,741,597,000 after purchasing an additional 681,555 shares during the period. 73.33% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CSCO has been the subject of several recent analyst reports. Wells Fargo & Company upgraded Cisco Systems from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $72.00 to $75.00 in a research note on Thursday, May 15th. Barclays reaffirmed an "equal weight" rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Evercore ISI boosted their price objective on shares of Cisco Systems from $67.00 to $72.00 and gave the company an "outperform" rating in a research report 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 report on Thursday, May 15th. Finally, JPMorgan Chase & Co. raised their price objective on Cisco Systems from $70.00 to $73.00 and gave the stock an "overweight" rating in a research report on Thursday, May 15th. Eight investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, Cisco Systems currently has a consensus rating of "Moderate Buy" and an average price target of $69.53.

Cisco Systems Stock Down 0.7%

Shares of CSCO traded down $0.51 during midday trading on Thursday, hitting $68.76. The company had a trading volume of 14,970,647 shares, compared to its average volume of 20,383,426. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.50. The company's 50 day moving average price is $64.63 and its 200 day moving average price is $61.68. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week 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 issued its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.04. The firm had revenue of $14.15 billion for the quarter, compared to the consensus estimate of $14.05 billion. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. Cisco Systems's quarterly revenue was up 11.4% compared to the same quarter last year. During the same period last year, the firm posted $0.88 EPS. On average, equities research analysts predict that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be issued 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 of this dividend is Thursday, July 3rd. Cisco Systems's dividend payout ratio is 66.94%.

Insider Buying and Selling

In other news, CEO Charles Robbins sold 29,784 shares of the company's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $64.61, for a total value of $1,924,344.24. Following the transaction, the chief executive officer owned 688,409 shares in the company, valued at $44,478,105.49. This represents a 4.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Deborah L. Stahlkopf sold 9,643 shares of the firm's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $63.50, for a total value of $612,330.50. Following the transaction, the executive vice president owned 181,186 shares in the company, valued at approximately $11,505,311. This trade represents a 5.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 97,335 shares of company stock valued at $6,271,054. Company insiders own 0.01% of the company's stock.

About Cisco Systems

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.