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

Garland Capital Management Inc. cut its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 14.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 83,108 shares of the network equipment provider's stock after selling 14,446 shares during the period. Cisco Systems accounts for approximately 4.8% of Garland Capital Management Inc.'s portfolio, making the stock its 8th largest holding. Garland Capital Management Inc.'s holdings in Cisco Systems were worth $5,129,000 at the end of the most recent reporting period.

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

Insider Transactions at Cisco Systems

In other news, SVP Maria Victoria Wong sold 762 shares of the firm's stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $64.07, for a total transaction of $48,821.34. Following the transaction, the senior vice president now owns 36,937 shares in the company, valued at approximately $2,366,553.59. This trade represents a 2.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Richard Scott Herren sold 15,678 shares of the firm's stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $65.52, for a total value of $1,027,222.56. Following the transaction, the chief financial officer now owns 309,543 shares in the company, valued at approximately $20,281,257.36. This represents a 4.82% 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

Cisco Systems stock traded up $0.48 during midday trading on Friday, hitting $66.32. The stock had a trading volume of 50,354,241 shares, compared to its average volume of 20,096,309. The firm's fifty day moving average is $61.38 and its two-hundred day moving average is $60.79. The company has a market capitalization of $262.63 billion, a PE ratio of 27.07, a P/E/G ratio of 3.97 and a beta of 0.88. Cisco Systems, Inc. has a 52-week low of $44.50 and a 52-week high of $66.65. The company has a current ratio of 0.95, a quick ratio of 0.87 and a debt-to-equity ratio of 0.50.

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

Cisco Systems Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 23rd. Investors of record on Thursday, July 3rd will be given a $0.41 dividend. The ex-dividend date is Thursday, July 3rd. This represents a $1.64 dividend on an annualized basis and a yield of 2.47%. Cisco Systems's dividend payout ratio is presently 66.94%.

Analyst Ratings Changes

CSCO has been the subject of a number of analyst reports. Wall Street Zen raised Cisco Systems from a "buy" rating to a "strong-buy" rating in a research note on Friday, May 16th. Rosenblatt Securities increased their price objective on Cisco Systems from $63.00 to $74.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Piper Sandler increased their price objective on Cisco Systems from $60.00 to $64.00 and gave the company a "neutral" rating in a research note on Thursday, May 15th. JPMorgan Chase & Co. lifted their price target on shares of Cisco Systems from $70.00 to $73.00 and gave the company an "overweight" rating in a report on Thursday, May 15th. Finally, Morgan Stanley reiterated a "hold" rating on shares of Cisco Systems in a report on Wednesday, May 21st. Seven research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Cisco Systems currently has a consensus rating of "Moderate Buy" and an average 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.