Garde Capital Inc. Sells 1,817 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Garde Capital Inc. cut its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 41.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,587 shares of the network equipment provider’s stock after selling 1,817 shares during the quarter. Garde Capital Inc.’s holdings in Cisco Systems were worth $138,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Lantz Financial LLC raised its stake in Cisco Systems by 1.2% during the 2nd quarter. Lantz Financial LLC now owns 60,993 shares of the network equipment provider’s stock worth $2,898,000 after buying an additional 736 shares during the period. Blue Trust Inc. raised its position in shares of Cisco Systems by 143.0% during the second quarter. Blue Trust Inc. now owns 26,807 shares of the network equipment provider’s stock worth $1,338,000 after purchasing an additional 15,777 shares during the period. Stanley Laman Group Ltd. acquired a new position in shares of Cisco Systems in the 2nd quarter valued at approximately $445,000. Brookstone Capital Management increased its stake in Cisco Systems by 6.9% during the 2nd quarter. Brookstone Capital Management now owns 58,860 shares of the network equipment provider’s stock worth $2,856,000 after purchasing an additional 3,777 shares in the last quarter. Finally, Hofer & Associates. Inc raised its holdings in Cisco Systems by 9.7% during the 2nd quarter. Hofer & Associates. Inc now owns 5,675 shares of the network equipment provider’s stock worth $270,000 after buying an additional 502 shares during the period. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Cisco Systems Trading Up 0.4 %

Cisco Systems stock opened at $58.85 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88. The stock has a 50-day simple moving average of $57.01 and a 200 day simple moving average of $51.24. The stock has a market capitalization of $234.39 billion, a P/E ratio of 25.26, a PEG ratio of 4.37 and a beta of 0.85. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $60.23.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, topping the consensus estimate of $0.87 by $0.04. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The company had revenue of $13.84 billion during the quarter, compared to the consensus estimate of $13.78 billion. During the same period in the previous year, the company posted $0.98 EPS. The firm’s revenue for the quarter was down 5.6% compared to the same quarter last year. Analysts expect that Cisco Systems, Inc. will post 2.97 earnings per share for the current year.

Cisco Systems Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.72%. The ex-dividend date is Friday, January 3rd. Cisco Systems’s payout ratio is 68.67%.

Insider Activity at Cisco Systems

In related news, Director Kristina M. Johnson sold 7,500 shares of the company’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $59.87, for a total value of $449,025.00. Following the transaction, the director now directly owns 65,915 shares in the company, valued at approximately $3,946,331.05. This represents a 10.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Richard Scott Herren sold 86,351 shares of Cisco Systems stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $57.49, for a total transaction of $4,964,318.99. Following the completion of the sale, the chief financial officer now owns 365,314 shares of the company’s stock, valued at $21,001,901.86. This trade represents a 19.12 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 353,522 shares of company stock worth $20,349,721. Insiders own 0.01% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft increased 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. Evercore ISI lifted their price target on Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Friday, September 20th. Wells Fargo & Company upped their price objective on Cisco Systems from $57.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. Tigress Financial lifted their target price on Cisco Systems from $76.00 to $78.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Finally, New Street Research raised Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price target for the company in a research report on Thursday, August 15th. Ten investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $59.94.

About Cisco Systems

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.