Trustmark National Bank Trust Department Sells 21,539 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Trustmark National Bank Trust Department lessened its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 19.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 88,117 shares of the network equipment provider's stock after selling 21,539 shares during the quarter. Trustmark National Bank Trust Department's holdings in Cisco Systems were worth $4,690,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in shares of Cisco Systems by 59.3% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 775,559 shares of the network equipment provider's stock valued at $36,847,000 after acquiring an additional 288,775 shares during the period. Citizens Financial Group Inc. RI increased its holdings in Cisco Systems by 24.4% during the 2nd quarter. Citizens Financial Group Inc. RI now owns 264,647 shares of the network equipment provider's stock valued at $12,573,000 after purchasing an additional 51,924 shares during the period. Commerzbank Aktiengesellschaft FI raised its position in Cisco Systems by 10.9% during the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 1,658,417 shares of the network equipment provider's stock valued at $88,261,000 after purchasing an additional 162,544 shares during the last quarter. Quintet Private Bank Europe S.A. lifted its holdings in Cisco Systems by 17.0% in the 3rd quarter. Quintet Private Bank Europe S.A. now owns 635,667 shares of the network equipment provider's stock worth $33,830,000 after buying an additional 92,179 shares during the period. Finally, IRON Financial LLC bought a new stake in shares of Cisco Systems in the 3rd quarter worth approximately $856,000. Institutional investors own 73.33% of the company's stock.

Insiders Place Their Bets

In related news, CFO Richard Scott Herren sold 86,351 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $57.49, for a total transaction of $4,964,318.99. Following the completion of the transaction, the chief financial officer now directly owns 365,314 shares of the company's stock, valued at approximately $21,001,901.86. This represents a 19.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Charles Robbins sold 171,744 shares of the firm's 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 transaction, the chief executive officer now owns 783,786 shares of the company's stock, valued at $45,059,857.14. This represents a 17.97 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 321,628 shares of company stock worth $18,449,561. Corporate insiders own 0.01% of the company's stock.

Cisco Systems Stock Up 0.9 %

NASDAQ CSCO opened at $57.50 on Thursday. The stock's 50-day moving average price is $54.68 and its 200-day moving average price is $50.00. The company has a market capitalization of $229.47 billion, a P/E ratio of 24.68, a price-to-earnings-growth ratio of 4.63 and a beta of 0.83. The company has a quick ratio of 0.80, a current ratio of 0.88 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $59.38.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 EPS for the quarter, topping analysts' consensus estimates of $0.87 by $0.04. The company had revenue of $13.84 billion for the quarter, compared to analysts' expectations of $13.78 billion. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The firm's revenue was down 5.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.98 EPS. On average, equities research analysts predict that Cisco Systems, Inc. will post 2.89 earnings per share for the current year.

Cisco Systems Dividend Announcement

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 issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.78%. The ex-dividend date is Friday, January 3rd. Cisco Systems's dividend payout ratio is currently 68.67%.

Analyst Ratings Changes

A number of brokerages recently commented on CSCO. Bank of America raised their price target on Cisco Systems from $60.00 to $72.00 and gave the stock a "buy" rating in a research note on Thursday, November 14th. StockNews.com raised shares of Cisco Systems from a "hold" rating to a "buy" rating in a research note on Thursday, November 14th. Rosenblatt Securities increased 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. Needham & Company LLC reaffirmed a "hold" rating on shares of Cisco Systems in a research report on Thursday, August 15th. Finally, Morgan Stanley upped their target price on Cisco Systems from $58.00 to $62.00 and gave the stock an "overweight" rating in a report on Thursday, November 14th. Ten analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Cisco Systems has an average rating of "Moderate Buy" and an average target price of $59.94.

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.

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