Logan Capital Management Inc. increased its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 10.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 295,303 shares of the network equipment provider's stock after purchasing an additional 27,175 shares during the period. Logan Capital Management Inc.'s holdings in Cisco Systems were worth $15,716,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Aviso Wealth Management grew its stake in Cisco Systems by 2.4% during the third quarter. Aviso Wealth Management now owns 7,615 shares of the network equipment provider's stock worth $405,000 after purchasing an additional 181 shares during the period. Waypoint Capital Advisors LLC lifted its stake in Cisco Systems by 2.9% in the third quarter. Waypoint Capital Advisors LLC now owns 6,497 shares of the network equipment provider's stock valued at $346,000 after buying an additional 182 shares during the period. Andina Capital Management LLC boosted its holdings in shares of Cisco Systems by 3.6% during the 3rd quarter. Andina Capital Management LLC now owns 5,249 shares of the network equipment provider's stock worth $279,000 after buying an additional 182 shares in the last quarter. Wealth Dimensions Group Ltd. grew its position in shares of Cisco Systems by 1.6% during the 3rd quarter. Wealth Dimensions Group Ltd. now owns 11,372 shares of the network equipment provider's stock worth $605,000 after buying an additional 182 shares during the period. Finally, Meridian Financial Partners LLC increased its stake in shares of Cisco Systems by 3.8% in the 3rd quarter. Meridian Financial Partners LLC now owns 5,020 shares of the network equipment provider's stock valued at $267,000 after acquiring an additional 185 shares in the last quarter. 73.33% of the stock is currently owned by institutional investors and hedge funds.
Cisco Systems Stock Performance
Shares of NASDAQ:CSCO traded down $0.23 during midday trading on Friday, reaching $58.62. 14,129,777 shares of the company traded hands, compared to its average volume of 19,074,041. The firm's fifty day moving average price is $57.13 and its two-hundred day moving average price is $51.33. The firm has a market capitalization of $233.47 billion, a price-to-earnings ratio of 25.16, a price-to-earnings-growth ratio of 4.37 and a beta of 0.85. The company has a quick ratio of 0.80, a current ratio of 0.88 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $60.23.
Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.04. The firm had revenue of $13.84 billion for the quarter, compared to analysts' expectations of $13.78 billion. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The company's revenue was down 5.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.98 earnings per share. On average, equities analysts expect that Cisco Systems, Inc. will post 2.97 earnings per share for the current year.
Cisco Systems Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be issued a $0.40 dividend. The ex-dividend date is Friday, January 3rd. This represents a $1.60 annualized dividend and a dividend yield of 2.73%. Cisco Systems's payout ratio is currently 68.67%.
Insider Activity
In related news, CEO Charles Robbins sold 171,744 shares of the company's stock in a transaction on Friday, November 15th. The shares were sold at an average price of $57.49, for a total value of $9,873,562.56. Following the completion of the transaction, the chief executive officer now directly owns 783,786 shares in the company, valued at approximately $45,059,857.14. The trade was a 17.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Thimaya K. Subaiya sold 21,230 shares of the firm's stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $57.07, for a total value of $1,211,596.10. Following the sale, the executive vice president now owns 213,834 shares in the company, valued at $12,203,506.38. The trade was a 9.03 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 353,522 shares of company stock worth $20,349,721. 0.01% of the stock is currently owned by insiders.
Analysts Set New Price Targets
Several research analysts have issued reports on CSCO shares. UBS Group increased their price target on Cisco Systems from $55.00 to $62.00 and gave the stock a "neutral" rating in a report on Thursday, November 14th. HSBC raised Cisco Systems from a "hold" rating to a "buy" rating and increased their price target for the company from $46.00 to $58.00 in a research report on Friday, August 16th. StockNews.com upgraded shares of Cisco Systems from a "hold" rating to a "buy" rating in a research note on Thursday, November 14th. Wells Fargo & Company upped their price objective on shares of Cisco Systems from $57.00 to $60.00 and gave the stock an "equal weight" rating in a research report on Thursday, November 14th. Finally, Hsbc Global Res raised Cisco Systems to a "strong-buy" rating in a report on Friday, August 16th. Ten equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $59.94.
Read Our Latest Research Report on CSCO
Cisco Systems Profile
(
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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