Cisco Systems, Inc. (NASDAQ:CSCO) is Garland Capital Management Inc.'s 9th Largest Position

Garland Capital Management Inc. cut its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 12.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 99,574 shares of the network equipment provider's stock after selling 14,070 shares during the quarter. Cisco Systems comprises 4.1% of Garland Capital Management Inc.'s investment portfolio, making the stock its 9th biggest position. Garland Capital Management Inc.'s holdings in Cisco Systems were worth $5,299,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of CSCO. Summit Securities Group LLC acquired a new stake in shares of Cisco Systems during the 2nd quarter worth approximately $25,000. Quarry LP grew its holdings in shares of Cisco Systems by 222.4% during the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider's stock worth $31,000 after purchasing an additional 456 shares during the period. West Financial Advisors LLC increased its position in shares of Cisco Systems by 116.6% during the 3rd quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider's stock worth $31,000 after purchasing an additional 309 shares during the last quarter. Hobbs Group Advisors LLC purchased a new stake in Cisco Systems in the 2nd quarter valued at about $36,000. Finally, Iron Horse Wealth Management LLC boosted its stake in Cisco Systems by 617.7% during the second 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. Hedge funds and other institutional investors own 73.33% of the company's stock.

Insider Activity at Cisco Systems

In other Cisco Systems news, CEO Charles Robbins sold 27,143 shares of the business's stock in a transaction on Friday, August 16th. The shares were 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 directly owns 683,403 shares of the company's stock, valued at approximately $33,794,278.35. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Charles Robbins sold 27,143 shares of Cisco Systems stock in a transaction on Friday, August 16th. The shares were 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 $33,794,278.35. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Deborah L. Stahlkopf sold 7,462 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $49.41, for a total transaction of $368,697.42. Following the completion of the sale, the executive vice president now directly owns 165,580 shares of the company's stock, valued at $8,181,307.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 70,529 shares of company stock valued at $3,509,049. Company insiders own 0.01% of the company's stock.

Analyst Upgrades and Downgrades

CSCO has been the topic of a number of research analyst reports. New Street Research upgraded Cisco Systems from a "neutral" rating to a "buy" rating and set a $57.00 price target on the stock in a research note on Thursday, August 15th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Cisco Systems from $52.00 to $53.00 and gave the stock a "hold" rating in a research report on Thursday, August 15th. Tigress Financial boosted their price target on Cisco Systems from $76.00 to $78.00 and gave the company a "buy" rating in a research report on Monday, October 14th. Evercore ISI upped their price target on shares of Cisco Systems from $55.00 to $60.00 and gave the stock an "outperform" rating in a research note on Friday, September 20th. Finally, StockNews.com raised Cisco Systems from a "hold" rating to a "buy" rating in a research note on Monday, October 28th. Twelve research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Cisco Systems presently has a consensus rating of "Moderate Buy" and a consensus price target of $56.74.

Cisco Systems Price Performance

Shares of CSCO stock traded up $0.33 during trading hours on Tuesday, reaching $56.16. The company's stock had a trading volume of 10,036,883 shares, compared to its average volume of 18,959,604. The company has a market capitalization of $224.12 billion, a price-to-earnings ratio of 21.92, a PEG ratio of 4.60 and a beta of 0.83. The company has a quick ratio of 0.83, a current ratio of 0.91 and a debt-to-equity ratio of 0.43. The firm's 50 day simple moving average is $52.73 and its 200-day simple moving average is $49.16. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $57.06.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, beating analysts' consensus estimates of $0.85 by $0.02. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The business had revenue of $13.64 billion during the quarter, compared to the consensus estimate of $13.53 billion. During the same quarter in the prior year, the firm posted $1.01 EPS. The company's revenue for the quarter was down 10.3% compared to the same quarter last year. Sell-side analysts forecast that Cisco Systems, Inc. will post 2.89 earnings per share for the current year.

Cisco Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.85%. The ex-dividend date of this dividend was Wednesday, October 2nd. Cisco Systems's dividend payout ratio (DPR) is presently 62.99%.

Cisco Systems Company 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.