Cisco Systems, Inc. (NASDAQ:CSCO) is Rock Point Advisors LLC’s 6th Largest Position

Rock Point Advisors LLC lessened its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 3.7% 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 181,226 shares of the network equipment provider’s stock after selling 6,872 shares during the period. Cisco Systems makes up 3.4% of Rock Point Advisors LLC’s holdings, making the stock its 6th biggest position. Rock Point Advisors LLC’s holdings in Cisco Systems were worth $11,183,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Glass Jacobson Investment Advisors llc boosted its position in Cisco Systems by 8.7% in the fourth quarter. Glass Jacobson Investment Advisors llc now owns 2,070 shares of the network equipment provider’s stock valued at $123,000 after buying an additional 166 shares in the last quarter. BlackDiamond Wealth Management LLC raised its stake in shares of Cisco Systems by 3.1% during the fourth quarter. BlackDiamond Wealth Management LLC now owns 5,656 shares of the network equipment provider’s stock worth $335,000 after buying an additional 168 shares during the last quarter. Legacy Financial Group Inc. increased its stake in Cisco Systems by 3.4% in the fourth quarter. Legacy Financial Group Inc. now owns 5,100 shares of the network equipment provider’s stock valued at $302,000 after purchasing an additional 169 shares in the last quarter. Capital Advantage Inc. increased its stake in Cisco Systems by 1.0% in the fourth quarter. Capital Advantage Inc. now owns 17,361 shares of the network equipment provider’s stock valued at $1,028,000 after purchasing an additional 172 shares in the last quarter. Finally, Lynx Investment Advisory increased its position in shares of Cisco Systems by 3.9% during the fourth quarter. Lynx Investment Advisory now owns 4,593 shares of the network equipment provider’s stock worth $272,000 after acquiring an additional 174 shares in the last quarter. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Wolfe Research initiated coverage on shares of Cisco Systems in a report on Tuesday. They set a “peer perform” rating for the company. KeyCorp started coverage on shares of Cisco Systems in a research report on Thursday, June 26th. They set an “overweight” rating and a $77.00 price target on the stock. Wall Street Zen upgraded shares of Cisco Systems from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 16th. Deutsche Bank Aktiengesellschaft upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and lifted their price objective for the company from $65.00 to $73.00 in a research note on Monday, June 16th. Finally, Morgan Stanley restated a “hold” rating on shares of Cisco Systems in a research note on Wednesday, May 21st. Eight 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 MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.53.

Cisco Systems Stock Performance

Cisco Systems stock opened at $69.27 on Thursday. The stock’s 50 day moving average price is $64.63 and its 200 day moving average price is $61.68. Cisco Systems, Inc. has a one year low of $44.50 and a one year high of $69.78. The firm has a market capitalization of $274.31 billion, a PE ratio of 28.27, a price-to-earnings-growth ratio of 4.10 and a beta of 0.90. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.87 and a current ratio of 0.95.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.04. Cisco Systems had a return on equity of 26.48% and a net margin of 17.60%. The company had revenue of $14.15 billion for the quarter, compared to analyst estimates of $14.05 billion. During the same period last year, the company earned $0.88 earnings per share. The company’s quarterly revenue was up 11.4% compared to the same quarter last year. As a group, sell-side analysts expect that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The company also recently disclosed 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 2.37%. The ex-dividend date is Thursday, July 3rd. Cisco Systems’s payout ratio is presently 66.94%.

Insiders Place Their Bets

In other news, insider Jeetendra I. Patel sold 899 shares of the business’s stock in a transaction 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 completion of the sale, the insider owned 255,377 shares in the company, valued at $16,413,079.79. The trade was a 0.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Maria Victoria Wong sold 762 shares of the company’s stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $64.07, for a total value of $48,821.34. Following the completion of the sale, the senior vice president owned 36,937 shares of the company’s stock, valued at $2,366,553.59. This represents a 2.02% 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 over the last quarter. Corporate 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.