Logan Capital Management Inc. Cuts Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Logan Capital Management Inc. reduced its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 292,675 shares of the network equipment provider’s stock after selling 2,628 shares during the quarter. Logan Capital Management Inc.’s holdings in Cisco Systems were worth $17,326,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CSCO. Mainstream Capital Management LLC bought a new stake in shares of Cisco Systems during the fourth quarter valued at about $132,000. Proficio Capital Partners LLC raised its holdings in shares of Cisco Systems by 76.4% during the fourth quarter. Proficio Capital Partners LLC now owns 16,947 shares of the network equipment provider’s stock worth $1,003,000 after acquiring an additional 7,338 shares in the last quarter. CENTRAL TRUST Co increased its stake in shares of Cisco Systems by 4.8% during the 4th quarter. CENTRAL TRUST Co now owns 112,101 shares of the network equipment provider’s stock worth $6,636,000 after purchasing an additional 5,123 shares during the last quarter. Requisite Capital Management LLC acquired a new stake in Cisco Systems in the 4th quarter worth approximately $1,670,000. Finally, Stonegate Investment Group LLC raised its holdings in Cisco Systems by 0.8% in the 4th quarter. Stonegate Investment Group LLC now owns 1,539,557 shares of the network equipment provider’s stock worth $91,142,000 after acquiring an additional 11,506 shares during the period. 73.33% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Cisco Systems news, CEO Charles Robbins sold 31,983 shares of the company’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $64.41, for a total value of $2,060,025.03. Following the transaction, the chief executive officer now directly owns 736,120 shares of the company’s stock, valued at $47,413,489.20. This represents a 4.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Thimaya K. Subaiya sold 2,065 shares of the company’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $60.70, for a total transaction of $125,345.50. Following the sale, the executive vice president now directly owns 191,184 shares of the company’s stock, valued at approximately $11,604,868.80. This represents a 1.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 66,547 shares of company stock worth $4,275,553 over the last ninety days. 0.01% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Rosenblatt Securities decreased their price objective on Cisco Systems from $80.00 to $63.00 and set a “buy” rating on the stock in a report on Tuesday, April 22nd. Piper Sandler lowered their target price on Cisco Systems from $72.00 to $60.00 and set a “neutral” rating for the company in a report on Tuesday, April 8th. The Goldman Sachs Group upped their price objective on Cisco Systems from $56.00 to $63.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. StockNews.com cut Cisco Systems from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 5th. Finally, Wells Fargo & Company reissued an “equal weight” rating on shares of Cisco Systems in a report on Thursday, March 6th. Seven investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $65.05.

Cisco Systems Stock Up 0.1%

CSCO stock opened at $59.77 on Monday. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $66.50. The company has a market cap of $237.78 billion, a price-to-earnings ratio of 26.10, a PEG ratio of 4.16 and a beta of 0.89. The firm has a 50-day moving average of $58.78 and a two-hundred day moving average of $59.47. The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.14). Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. As a group, analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems announced that its Board of Directors has approved a share repurchase program on Wednesday, February 12th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the network equipment provider to reacquire up to 6% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Cisco Systems Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 23rd. Shareholders of record on Thursday, April 3rd were given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 2.74%. This is an increase from Cisco Systems’s previous quarterly dividend of $0.40. The ex-dividend date was Thursday, April 3rd. Cisco Systems’s payout ratio is presently 71.62%.

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.