Rovin Capital UT ADV Makes New $297,000 Investment in Cisco Systems, Inc. (NASDAQ:CSCO)

Rovin Capital UT ADV bought a new stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 4,807 shares of the network equipment provider's stock, valued at approximately $297,000.

Several other institutional investors and hedge funds have also recently modified their holdings of CSCO. ABLE Financial Group LLC lifted its holdings in Cisco Systems by 6.7% during the first quarter. ABLE Financial Group LLC now owns 5,138 shares of the network equipment provider's stock valued at $317,000 after purchasing an additional 322 shares in the last quarter. Alta Advisers Ltd raised its position in shares of Cisco Systems by 49.0% during the 1st quarter. Alta Advisers Ltd now owns 19,459 shares of the network equipment provider's stock worth $1,201,000 after purchasing an additional 6,400 shares during the last quarter. Benchmark Financial Wealth Advisors LLC lifted its stake in Cisco Systems by 15.4% in the 1st quarter. Benchmark Financial Wealth Advisors LLC now owns 11,894 shares of the network equipment provider's stock valued at $734,000 after buying an additional 1,585 shares in the last quarter. Deseret Mutual Benefit Administrators lifted its stake in Cisco Systems by 2.6% in the 1st quarter. Deseret Mutual Benefit Administrators now owns 38,265 shares of the network equipment provider's stock valued at $2,361,000 after buying an additional 987 shares in the last quarter. Finally, Smallwood Wealth Investment Management LLC acquired a new stake in Cisco Systems in the 1st quarter worth about $137,000. Hedge funds and other institutional investors own 73.33% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Morgan Stanley reissued a "hold" rating on shares of Cisco Systems in a report on Wednesday, May 21st. Rosenblatt Securities boosted their price target on Cisco Systems from $63.00 to $74.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Wall Street Zen upgraded Cisco Systems from a "buy" rating to a "strong-buy" rating in a report on Friday, May 16th. Evercore ISI lifted their target price on shares of Cisco Systems from $67.00 to $72.00 and gave the stock an "outperform" rating in a research note on Thursday, May 15th. Finally, New Street Research reiterated a "neutral" rating and issued a $70.00 target price on shares of Cisco Systems in a research report on Friday, May 16th. Seven investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $69.53.

Cisco Systems Trading Up 1.5%

CSCO traded up $1.05 during trading hours on Thursday, reaching $69.64. The company's stock had a trading volume of 17,973,495 shares, compared to its average volume of 20,328,057. The stock has a market cap of $275.77 billion, a PE ratio of 28.42, a P/E/G ratio of 4.10 and a beta of 0.90. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $69.89. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.95 and a quick ratio of 0.87. The business's 50-day moving average is $63.41 and its 200-day moving average is $61.30.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, beating the consensus estimate of $0.92 by $0.04. The business had revenue of $14.15 billion for the quarter, compared to analyst estimates of $14.05 billion. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. The company's quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.88 EPS. As a group, equities research analysts predict that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

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 paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.35%. The ex-dividend date is Thursday, July 3rd. Cisco Systems's dividend payout ratio (DPR) is 66.94%.

Insider Transactions at Cisco Systems

In related news, EVP Oliver Tuszik sold 15,000 shares of Cisco Systems stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $63.53, for a total value of $952,950.00. Following the completion of the sale, the executive vice president owned 131,676 shares in the company, valued at approximately $8,365,376.28. This trade represents a 10.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Richard Scott Herren sold 15,678 shares of the company's stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $65.52, for a total value of $1,027,222.56. Following the transaction, the chief financial officer owned 309,543 shares in the company, valued at $20,281,257.36. This trade represents a 4.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 97,335 shares of company stock worth $6,271,054. 0.01% of the stock is owned by company 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.