Rogco LP Has $1.12 Million Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Rogco LP lessened its holdings in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 30.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund 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 reporting period.

Several other hedge funds also recently modified their holdings of CSCO. Leavell Investment Management Inc. boosted its stake in Cisco Systems by 2.8% during the 1st quarter. Leavell Investment Management Inc. now owns 89,324 shares of the network equipment provider's stock worth $5,512,000 after acquiring an additional 2,428 shares during the last quarter. Quotient Wealth Partners LLC boosted its stake in Cisco Systems by 20.4% during the 1st quarter. Quotient Wealth Partners LLC now owns 12,890 shares of the network equipment provider's stock worth $795,000 after acquiring an additional 2,187 shares during the last quarter. Main Street Research LLC boosted its stake in Cisco Systems by 4,721.7% during the 1st quarter. Main Street Research LLC now owns 530,296 shares of the network equipment provider's stock worth $32,725,000 after acquiring an additional 519,298 shares during the last quarter. Mraz Amerine & Associates Inc. bought a new position in Cisco Systems during the 1st quarter worth approximately $232,000. Finally, Topsail Wealth Management LLC boosted its stake in Cisco Systems by 18.2% during the 1st quarter. Topsail Wealth Management LLC now owns 6,643 shares of the network equipment provider's stock worth $410,000 after acquiring an additional 1,025 shares during the last quarter. Institutional investors own 73.33% of the company's stock.

Analyst Upgrades and Downgrades

CSCO has been the topic of several recent analyst reports. Barclays reissued an "equal weight" rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Morgan Stanley restated a "hold" rating on shares of Cisco Systems in a report on Wednesday, May 21st. Deutsche Bank Aktiengesellschaft upgraded shares of Cisco Systems from a "hold" rating to a "buy" rating and raised their target price for the stock from $65.00 to $73.00 in a report on Monday, June 16th. KeyCorp initiated coverage on shares of Cisco Systems in a report on Thursday, June 26th. They set an "overweight" rating and a $77.00 target price on the stock. Finally, JPMorgan Chase & Co. raised their target price 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 assigned a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat, Cisco Systems has a consensus rating of "Moderate Buy" and an average price target of $69.53.

Cisco Systems Stock Down 1.0%

CSCO traded down $0.71 during trading on Friday, reaching $68.06. 8,255,925 shares of the stock were exchanged, compared to its average volume of 20,336,555. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.87 and a current ratio of 0.95. The stock's 50 day moving average price is $64.84 and its two-hundred day moving average price is $61.75. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $69.78. The stock has a market cap of $269.50 billion, a P/E ratio of 27.77, a price-to-earnings-growth ratio of 4.14 and a beta of 0.90.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $14.15 billion during the quarter, compared to analysts' expectations of $14.05 billion. During the same period in the previous year, the business posted $0.88 earnings per share. The company's revenue for the quarter was up 11.4% compared to the same quarter last year. Equities analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Dividend Announcement

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

Insider Activity

In other news, CFO Richard Scott Herren sold 15,678 shares of the business's stock in a transaction dated 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 sale, the chief financial officer owned 309,543 shares of the company's stock, valued at approximately $20,281,257.36. The trade was a 4.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jeetendra I. Patel sold 9,961 shares of the business's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $63.97, for a total transaction of $637,205.17. Following the completion of the sale, the insider directly owned 257,162 shares of the company's stock, valued at approximately $16,450,653.14. The trade was a 3.73% decrease in their position. 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. 0.01% of the stock is owned by company insiders.

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.