Logan Capital Management Inc. boosted its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 772.5% during the first quarter, Holdings Channel reports. The institutional investor owned 325,626 shares of the network equipment provider’s stock after buying an additional 288,305 shares during the period. Logan Capital Management Inc.’s holdings in Cisco Systems were worth $11,007,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of CSCO. Financial Advisory Service Inc. raised its stake in Cisco Systems by 0.8% in the first quarter. Financial Advisory Service Inc. now owns 13,610 shares of the network equipment provider’s stock worth $460,000 after buying an additional 114 shares in the last quarter. Commonwealth Financial Services LLC raised its stake in Cisco Systems by 1.2% in the first quarter. Commonwealth Financial Services LLC now owns 10,265 shares of the network equipment provider’s stock worth $339,000 after buying an additional 118 shares in the last quarter. NEXT Financial Group Inc raised its stake in Cisco Systems by 0.3% in the first quarter. NEXT Financial Group Inc now owns 43,598 shares of the network equipment provider’s stock worth $1,485,000 after buying an additional 126 shares in the last quarter. Blue Fin Capital Inc. raised its stake in Cisco Systems by 0.4% in the first quarter. Blue Fin Capital Inc. now owns 31,073 shares of the network equipment provider’s stock worth $1,050,000 after buying an additional 130 shares in the last quarter. Finally, Madrona Financial Services LLC raised its stake in Cisco Systems by 2.1% in the first quarter. Madrona Financial Services LLC now owns 7,407 shares of the network equipment provider’s stock worth $250,000 after buying an additional 153 shares in the last quarter. Institutional investors own 75.40% of the company’s stock.

Cisco Systems, Inc. (NASDAQ CSCO) traded up 1.1294% on Friday, hitting $31.3501. 6,270,328 shares of the company were exchanged. The firm’s 50 day moving average is $31.55 and its 200 day moving average is $32.52. The company has a market capitalization of $156.75 billion, a P/E ratio of 15.9138 and a beta of 1.24. Cisco Systems, Inc. has a 52 week low of $29.12 and a 52 week high of $34.60. Cisco Systems also was the target of some unusual options trading activity on Wednesday. Investors acquired 21,024 call options on the company. This represents an increase of 113% compared to the average daily volume of 9,855 call options.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, May 17th. The network equipment provider reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. The business had revenue of $11.94 billion during the quarter, compared to analysts’ expectations of $11.90 billion. Cisco Systems had a net margin of 20.61% and a return on equity of 17.31%. The business’s revenue for the quarter was down .5% on a year-over-year basis. During the same period last year, the business earned $0.57 earnings per share. On average, equities research analysts forecast that Cisco Systems, Inc. will post $2.38 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 26th. Investors of record on Friday, July 7th were issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.74%. The ex-dividend date of this dividend was Wednesday, July 5th. Cisco Systems’s dividend payout ratio (DPR) is currently 58.29%.

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A number of research firms have recently weighed in on CSCO. Citigroup Inc. set a $36.00 target price on shares of Cisco Systems and gave the stock a “buy” rating in a report on Friday, May 19th. Sanford C. Bernstein set a $38.00 target price on shares of Cisco Systems and gave the stock a “buy” rating in a report on Saturday, July 1st. Berenberg Bank set a $33.00 target price on shares of Cisco Systems and gave the stock a “hold” rating in a report on Saturday, July 1st. Credit Suisse Group reiterated a “buy” rating on shares of Cisco Systems in a report on Thursday. Finally, Vetr lowered shares of Cisco Systems from a “strong-buy” rating to a “buy” rating and set a $37.03 price objective for the company. in a report on Wednesday, April 26th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and twenty-two have assigned a buy rating to the company. Cisco Systems currently has an average rating of “Buy” and an average price target of $35.31.

In related news, SVP Rebecca Jacoby sold 92,840 shares of Cisco Systems stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $31.71, for a total value of $2,943,956.40. Following the completion of the transaction, the senior vice president now owns 271,725 shares in the company, valued at $8,616,399.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John T. Chambers sold 295,537 shares of Cisco Systems stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $31.52, for a total transaction of $9,315,326.24. The disclosure for this sale can be found here. Insiders sold 396,179 shares of company stock valued at $12,503,407 in the last 90 days. Company insiders own 0.11% of the company’s stock.

Cisco Systems Company Profile

Cisco Systems, Inc designs and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The Company operates through three geographic segments: Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific, Japan and China (APJC).

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

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