Hancock Whitney Corp Reduces Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Hancock Whitney Corp lowered its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 77.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 80,734 shares of the network equipment provider's stock after selling 271,998 shares during the quarter. Hancock Whitney Corp's holdings in Cisco Systems were worth $4,297,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Summit Securities Group LLC purchased a new stake in Cisco Systems during the 2nd quarter valued at $25,000. Quarry LP increased its position in Cisco Systems by 222.4% during the second quarter. Quarry LP now owns 661 shares of the network equipment provider's stock valued at $31,000 after acquiring an additional 456 shares during the last quarter. West Financial Advisors LLC raised its stake in shares of Cisco Systems by 116.6% in the third quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider's stock valued at $31,000 after acquiring an additional 309 shares during the period. Hobbs Group Advisors LLC bought a new stake in shares of Cisco Systems in the 2nd quarter worth about $36,000. Finally, Iron Horse Wealth Management LLC boosted its stake in shares of Cisco Systems by 617.7% during the 2nd quarter. Iron Horse Wealth Management LLC now owns 890 shares of the network equipment provider's stock worth $42,000 after purchasing an additional 766 shares during the period. 73.33% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cisco Systems

In related news, CEO Charles Robbins sold 171,744 shares of the stock in a transaction that occurred 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 of the company's stock, valued at $45,059,857.14. This trade represents a 17.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Maria Victoria Wong sold 3,379 shares of the business's stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $50.36, for a total transaction of $170,166.44. Following the sale, the senior vice president now directly owns 47,182 shares in the company, valued at approximately $2,376,085.52. This represents a 6.68 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 342,858 shares of company stock worth $19,661,157 over the last three months. Corporate insiders own 0.01% of the company's stock.

Cisco Systems Stock Up 0.3 %

CSCO stock traded up $0.19 during trading on Monday, hitting $58.74. 52,380,496 shares of the company's stock traded hands, compared to its average volume of 19,255,572. The firm has a market capitalization of $233.95 billion, a P/E ratio of 25.13, a PEG ratio of 4.37 and a beta of 0.83. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $59.38. The company has a quick ratio of 0.80, a current ratio of 0.88 and a debt-to-equity ratio of 0.43. The business has a fifty day simple moving average of $55.02 and a two-hundred day simple moving average of $50.17.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.87 by $0.04. The business had revenue of $13.84 billion for the quarter, compared to the consensus estimate of $13.78 billion. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The business's revenue was down 5.6% compared to the same quarter last year. During the same period last year, the business posted $0.98 EPS. Sell-side analysts anticipate that Cisco Systems, Inc. will post 2.97 EPS for the current year.

Cisco Systems Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be given a dividend of $0.40 per share. The ex-dividend date is Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a yield of 2.72%. Cisco Systems's payout ratio is 68.67%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on CSCO shares. Bank of America raised their price objective on shares of Cisco Systems from $60.00 to $72.00 and gave the stock a "buy" rating in a research note on Thursday, November 14th. Tigress Financial raised their price target on Cisco Systems from $76.00 to $78.00 and gave the stock a "buy" rating in a research note on Monday, October 14th. StockNews.com raised Cisco Systems from a "hold" rating to a "buy" 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. Finally, Wells Fargo & Company boosted their target price on shares of Cisco Systems from $57.00 to $60.00 and gave the company an "equal weight" rating in a research note on Thursday, November 14th. Ten research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $59.94.

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.