Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Garland Capital Management Inc.

by · The Cerbat Gem

Garland Capital Management Inc. cut its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) by 12.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 99,574 shares of the network equipment provider’s stock after selling 14,070 shares during the quarter. Cisco Systems accounts for 4.1% of Garland Capital Management Inc.’s portfolio, making the stock its 9th largest position. Garland Capital Management Inc.’s holdings in Cisco Systems were worth $5,299,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Summit Securities Group LLC bought a new position in shares of Cisco Systems in the second quarter valued at $25,000. Quarry LP lifted its holdings in shares of Cisco Systems by 222.4% during the second quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock valued at $31,000 after purchasing an additional 456 shares during the last quarter. West Financial Advisors LLC boosted its position in shares of Cisco Systems by 116.6% in the 3rd quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock valued at $31,000 after purchasing an additional 309 shares during the period. Hobbs Group Advisors LLC purchased a new position in Cisco Systems in the 2nd quarter worth about $36,000. Finally, Iron Horse Wealth Management LLC raised its holdings in Cisco Systems by 617.7% during the 2nd quarter. Iron Horse Wealth Management LLC now owns 890 shares of the network equipment provider’s stock worth $42,000 after buying an additional 766 shares during the period. Institutional investors own 73.33% of the company’s stock.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, CEO Charles Robbins sold 27,143 shares of Cisco Systems stock in a transaction on Friday, August 16th. The stock was sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the completion of the transaction, the chief executive officer now directly owns 683,403 shares of the company’s stock, valued at approximately $33,794,278.35. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Maria Victoria Wong sold 3,379 shares of the firm’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $50.36, for a total value of $170,166.44. Following the completion of the sale, the senior vice president now directly owns 47,182 shares in the company, valued at approximately $2,376,085.52. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Charles Robbins sold 27,143 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the transaction, the chief executive officer now owns 683,403 shares in the company, valued at approximately $33,794,278.35. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 70,529 shares of company stock valued at $3,509,049. 0.01% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Needham & Company LLC restated a “hold” rating on shares of Cisco Systems in a report on Thursday, August 15th. Jefferies Financial Group cut their target price on shares of Cisco Systems from $56.00 to $53.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. Hsbc Global Res raised Cisco Systems to a “strong-buy” rating in a research report on Friday, August 16th. New Street Research raised Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price target on the stock in a research report on Thursday, August 15th. Finally, Barclays reduced their price objective on Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating for the company in a research note on Thursday, August 15th. Twelve research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $56.74.

View Our Latest Research Report on CSCO

Cisco Systems Stock Performance

Shares of Cisco Systems stock traded up $0.22 during midday trading on Tuesday, hitting $56.05. The company had a trading volume of 1,860,424 shares, compared to its average volume of 18,940,414. The stock has a market cap of $223.68 billion, a PE ratio of 21.92, a P/E/G ratio of 4.60 and a beta of 0.83. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $57.06. The business’s 50 day simple moving average is $52.73 and its two-hundred day simple moving average is $49.16. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.91 and a quick ratio of 0.83.

Cisco Systems (NASDAQ:CSCO – Get Free Report) last posted its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.02. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The company had revenue of $13.64 billion for the quarter, compared to the consensus estimate of $13.53 billion. During the same quarter in the previous year, the firm posted $1.01 EPS. The business’s revenue was down 10.3% compared to the same quarter last year. As a group, equities analysts predict that Cisco Systems, Inc. will post 2.89 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date was Wednesday, October 2nd. Cisco Systems’s dividend payout ratio is 62.99%.

About Cisco Systems

(Free Report)

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.

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