Cadence Bank Purchases 828 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Cadence Bank boosted its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 0.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 197,604 shares of the network equipment provider’s stock after purchasing an additional 828 shares during the quarter. Cisco Systems comprises approximately 0.7% of Cadence Bank’s investment portfolio, making the stock its 29th largest holding. Cadence Bank’s holdings in Cisco Systems were worth $10,516,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Summit Securities Group LLC acquired a new stake in shares of Cisco Systems in the 2nd quarter worth about $25,000. West Financial Advisors LLC increased its holdings in Cisco Systems by 116.6% during the 3rd quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock worth $31,000 after purchasing an additional 309 shares in the last quarter. Quarry LP raised its stake in shares of Cisco Systems by 222.4% in the second quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock worth $31,000 after purchasing an additional 456 shares during the last quarter. Hobbs Group Advisors LLC bought a new position in shares of Cisco Systems in the second quarter valued at approximately $36,000. Finally, Iron Horse Wealth Management LLC boosted its position in shares of Cisco Systems by 617.7% during the second quarter. Iron Horse Wealth Management LLC now owns 890 shares of the network equipment provider’s stock valued at $42,000 after buying an additional 766 shares during the last quarter. Institutional investors own 73.33% of the company’s stock.

Insider Activity at Cisco Systems

In other news, CEO Charles Robbins sold 171,744 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $57.49, for a total transaction of $9,873,562.56. Following the sale, the chief executive officer now owns 783,786 shares in the company, valued at approximately $45,059,857.14. The trade was a 17.97 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Thimaya K. Subaiya sold 1,328 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $48.92, for a total transaction of $64,965.76. Following the completion of the transaction, the executive vice president now owns 132,910 shares of the company’s stock, valued at approximately $6,501,957.20. The trade was a 0.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 339,479 shares of company stock worth $19,490,991 over the last 90 days. 0.01% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on CSCO shares. Morgan Stanley raised their price objective on Cisco Systems from $58.00 to $62.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. Hsbc Global Res raised shares of Cisco Systems to a “strong-buy” rating in a research report on Friday, August 16th. StockNews.com raised Cisco Systems from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. Wells Fargo & Company increased their price target on shares of Cisco Systems from $57.00 to $60.00 and gave the company an “equal weight” rating in a research report on Thursday, November 14th. Finally, Rosenblatt Securities raised their price target on shares of Cisco Systems from $56.00 to $58.00 and gave the stock a “neutral” rating in a research note on Thursday, August 15th. Ten research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $59.94.

Cisco Systems Stock Up 1.4 %

NASDAQ CSCO opened at $59.59 on Wednesday. The business’s 50-day moving average is $55.35 and its 200 day moving average is $50.32. The stock has a market capitalization of $237.33 billion, a PE ratio of 25.58, a PEG ratio of 4.38 and a beta of 0.83. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.80. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $59.64.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The firm had revenue of $13.84 billion for the quarter, compared to analyst estimates of $13.78 billion. During the same period last year, the company earned $0.98 EPS. The business’s quarterly revenue was down 5.6% compared to the same quarter last year. Sell-side analysts forecast that Cisco Systems, Inc. will post 2.97 earnings per share for the current year.

Cisco Systems Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be given a $0.40 dividend. The ex-dividend date is Friday, January 3rd. This represents a $1.60 annualized dividend and a dividend yield of 2.69%. Cisco Systems’s dividend payout ratio is 68.67%.

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.