Garland Capital Management Inc. Decreases Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

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Garland Capital Management Inc. decreased its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 6.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 132,786 shares of the network equipment provider’s stock after selling 8,500 shares during the quarter. Cisco Systems accounts for about 4.0% of Garland Capital Management Inc.’s portfolio, making the stock its 3rd largest holding. Garland Capital Management Inc.’s holdings in Cisco Systems were worth $5,713,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of CSCO. Certified Advisory Corp bought a new stake in shares of Cisco Systems in the 4th quarter valued at $116,000. Trustcore Financial Services LLC boosted its stake in shares of Cisco Systems by 143.5% in the 1st quarter. Trustcore Financial Services LLC now owns 3,294 shares of the network equipment provider’s stock valued at $141,000 after purchasing an additional 1,941 shares during the last quarter. Smart Portfolios LLC acquired a new position in shares of Cisco Systems during the 1st quarter valued at $146,000. Stelac Advisory Services LLC acquired a new position in shares of Cisco Systems during the 1st quarter valued at $149,000. Finally, Wagner Wealth Management LLC acquired a new position in shares of Cisco Systems during the 4th quarter valued at $157,000. Institutional investors and hedge funds own 71.65% of the company’s stock.

A number of research analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of Cisco Systems from a “buy” rating to a “hold” rating in a research report on Thursday, August 2nd. BidaskClub downgraded shares of Cisco Systems from a “buy” rating to a “hold” rating in a research report on Tuesday, June 26th. Piper Jaffray Companies set a $50.00 target price on shares of Cisco Systems and gave the company a “buy” rating in a research report on Monday, July 9th. Goldman Sachs Group restated a “buy” rating and set a $56.00 price objective on shares of Cisco Systems in a report on Thursday, August 16th. Finally, Credit Suisse Group increased their target price on shares of Cisco Systems from $41.00 to $43.00 and gave the company a “hold” rating in a report on Thursday, August 16th. Nine research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. Cisco Systems presently has an average rating of “Buy” and a consensus target price of $47.76.

Shares of CSCO traded up $0.16 during midday trading on Friday, reaching $47.40. 13,726,310 shares of the stock were exchanged, compared to its average volume of 18,791,598. The company has a current ratio of 2.29, a quick ratio of 2.22 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $225.89 billion, a price-to-earnings ratio of 20.26, a PEG ratio of 2.79 and a beta of 1.06. Cisco Systems, Inc. has a 52 week low of $32.12 and a 52 week high of $48.06.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, August 15th. The network equipment provider reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.01. The firm had revenue of $12.84 billion during the quarter, compared to analysts’ expectations of $12.76 billion. Cisco Systems had a return on equity of 22.12% and a net margin of 0.22%. The company’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same period last year, the business posted $0.61 earnings per share. equities research analysts predict that Cisco Systems, Inc. will post 2.65 EPS for the current year.

In other Cisco Systems news, EVP Mark D. Chandler sold 31,842 shares of the company’s stock in a transaction dated Thursday, September 13th. The stock was sold at an average price of $47.20, for a total transaction of $1,502,942.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP David Goeckeler sold 35,000 shares of the company’s stock in a transaction dated Friday, June 22nd. The stock was sold at an average price of $43.27, for a total value of $1,514,450.00. Following the sale, the executive vice president now owns 490,458 shares in the company, valued at approximately $21,222,117.66. The disclosure for this sale can be found here. Insiders sold 205,150 shares of company stock worth $9,557,825 over the last ninety days. Corporate insiders own 0.05% of the company’s stock.

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 worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.

Further Reading: Diversification in Your Portfolio

Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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