Cisco Systems, Inc. (NASDAQ:CSCO) Stake Decreased by Garland Capital Management Inc.

Garland Capital Management Inc. cut its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 14.8% during the first quarter, Holdings Channel reports. The institutional investor owned 83,108 shares of the network equipment provider’s stock after selling 14,446 shares during the quarter. Cisco Systems comprises 4.8% of Garland Capital Management Inc.’s investment portfolio, making the stock its 8th biggest holding. Garland Capital Management Inc.’s holdings in Cisco Systems were worth $5,129,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently modified their holdings of CSCO. Tallon Kerry Patrick purchased a new stake in shares of Cisco Systems in the fourth quarter valued at approximately $603,000. Brighton Jones LLC boosted its stake in shares of Cisco Systems by 49.5% in the fourth quarter. Brighton Jones LLC now owns 74,187 shares of the network equipment provider’s stock valued at $4,392,000 after buying an additional 24,562 shares in the last quarter. Revolve Wealth Partners LLC boosted its stake in shares of Cisco Systems by 37.0% in the fourth quarter. Revolve Wealth Partners LLC now owns 9,156 shares of the network equipment provider’s stock valued at $542,000 after buying an additional 2,474 shares in the last quarter. Strategic Financial Concepts LLC purchased a new stake in Cisco Systems during the fourth quarter worth $282,000. Finally, Tandem Investment Advisors Inc. purchased a new stake in Cisco Systems during the fourth quarter worth $204,000. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Cisco Systems

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 9,643 shares of the business’s stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $63.50, for a total transaction of $612,330.50. Following the completion of the sale, the executive vice president now owns 181,186 shares of the company’s stock, valued at approximately $11,505,311. The trade was a 5.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Thimaya K. Subaiya sold 8,726 shares of the business’s stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $65.54, for a total value of $571,902.04. Following the sale, the executive vice president now directly owns 174,669 shares of the company’s stock, valued at approximately $11,447,806.26. This trade represents a 4.76% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 97,335 shares of company stock worth $6,271,054. 0.01% of the stock is currently owned by insiders.

Cisco Systems Stock Performance

NASDAQ CSCO opened at $66.32 on Friday. The stock has a market cap of $262.63 billion, a price-to-earnings ratio of 27.07, a price-to-earnings-growth ratio of 3.94 and a beta of 0.88. The business has a fifty day moving average of $61.38 and a 200-day moving average of $60.78. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $66.65. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.50.

Cisco Systems (NASDAQ:CSCO) last released its 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 firm had revenue of $14.15 billion during 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 business’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.88 earnings per share. As a group, analysts predict that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be paid a $0.41 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $1.64 annualized dividend and a yield of 2.47%. Cisco Systems’s payout ratio is currently 66.94%.

Analyst Ratings Changes

A number of analysts have commented on the company. Evercore ISI boosted their target price on Cisco Systems from $67.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, May 15th. Deutsche Bank Aktiengesellschaft upgraded Cisco Systems from a “hold” rating to a “buy” rating and boosted their target price for the stock from $65.00 to $73.00 in a research report on Monday, June 16th. Wells Fargo & Company upgraded Cisco Systems from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $72.00 to $75.00 in a research report on Thursday, May 15th. Barclays reiterated an “equal weight” rating on shares of Cisco Systems in a research report on Wednesday, May 21st. Finally, Piper Sandler boosted their target price on Cisco Systems from $60.00 to $64.00 and gave the stock a “neutral” rating in a research report on Thursday, May 15th. Seven investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $69.11.

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.