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

Cadence Bank boosted its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 0.4% in the third quarter, HoldingsChannel reports. The firm owned 197,604 shares of the network equipment provider’s stock after acquiring an additional 828 shares during the period. Cisco Systems makes up approximately 0.7% of Cadence Bank’s holdings, 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 have also added to or reduced their stakes in the stock. Swedbank AB bought a new position in Cisco Systems in the first quarter worth approximately $840,538,000. FMR LLC raised its stake in shares of Cisco Systems by 10.1% in the third quarter. FMR LLC now owns 63,931,461 shares of the network equipment provider’s stock worth $3,402,432,000 after buying an additional 5,885,879 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Cisco Systems by 22.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 26,409,843 shares of the network equipment provider’s stock valued at $1,254,739,000 after buying an additional 4,843,146 shares in the last quarter. Pathway Financial Advisers LLC grew its stake in shares of Cisco Systems by 5,231.5% during the 3rd quarter. Pathway Financial Advisers LLC now owns 4,935,107 shares of the network equipment provider’s stock valued at $262,646,000 after acquiring an additional 4,842,542 shares during the period. Finally, The Manufacturers Life Insurance Company raised its stake in Cisco Systems by 87.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 5,541,607 shares of the network equipment provider’s stock worth $294,923,000 after acquiring an additional 2,591,684 shares during the period. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Cisco Systems Stock Performance

Shares of NASDAQ:CSCO opened at $59.59 on Wednesday. The company has a current ratio of 0.88, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $237.33 billion, a price-to-earnings ratio of 25.58, a PEG ratio of 4.38 and a beta of 0.83. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $59.64. The firm’s 50-day moving average is $55.35 and its 200 day moving average is $50.32.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, beating 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 company had revenue of $13.84 billion during the quarter, compared to analysts’ expectations of $13.78 billion. During the same quarter in the previous year, the business earned $0.98 EPS. Cisco Systems’s revenue was down 5.6% compared to the same quarter last year. Research analysts predict that Cisco Systems, Inc. will post 2.97 EPS for the current year.

Cisco Systems Announces Dividend

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

Wall Street Analyst Weigh In

A number of research firms have weighed in on CSCO. Morgan Stanley upped their price target on shares of Cisco Systems from $58.00 to $62.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. Hsbc Global Res upgraded Cisco Systems to a “strong-buy” rating in a research note on Friday, August 16th. Citigroup boosted their price objective on Cisco Systems from $62.00 to $64.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Wells Fargo & Company increased their target price 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. Finally, HSBC raised Cisco Systems from a “hold” rating to a “buy” rating and boosted their price target for the stock from $46.00 to $58.00 in a report on Friday, August 16th. Ten 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $59.94.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, CEO Charles Robbins sold 171,744 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $57.49, for a total transaction of $9,873,562.56. Following the completion of the sale, the chief executive officer now owns 783,786 shares in the company, valued at $45,059,857.14. This represents a 17.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Thimaya K. Subaiya sold 1,328 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $48.92, for a total value of $64,965.76. Following the sale, the executive vice president now owns 132,910 shares of the company’s stock, valued at $6,501,957.20. This trade represents a 0.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 339,479 shares of company stock valued at $19,490,991 in the last three months. Company insiders own 0.01% of the company’s stock.

Cisco Systems 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.