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

Trustmark National Bank Trust Department cut its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 19.6% during the third quarter, HoldingsChannel reports. 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.

Several other institutional investors have also modified their holdings of the stock. Swedbank AB purchased a new position in Cisco Systems during the first quarter worth $840,538,000. Dimensional Fund Advisors LP boosted its stake 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 worth $1,254,739,000 after purchasing an additional 4,843,146 shares during the period. Pathway Financial Advisers LLC grew its holdings in 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 purchasing an additional 4,842,542 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in Cisco Systems by 26.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,858,505 shares of the network equipment provider’s stock worth $691,678,000 after purchasing an additional 2,906,357 shares during the period. Finally, International Assets Investment Management LLC boosted its position in shares of Cisco Systems by 4,524.9% during the third quarter. International Assets Investment Management LLC now owns 2,087,369 shares of the network equipment provider’s stock valued at $1,110,900,000 after buying an additional 2,042,236 shares during the period. 73.33% of the stock is owned by institutional investors.

Insider Activity at Cisco Systems

In related 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 value of $9,873,562.56. Following the transaction, the chief executive officer now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Maria Victoria Wong sold 3,379 shares of Cisco Systems stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $50.36, for a total value of $170,166.44. Following the sale, the senior vice president now directly owns 47,182 shares of the company’s stock, 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 321,628 shares of company stock valued at $18,449,561 in the last three months. 0.01% of the stock is owned by insiders.

Cisco Systems Price Performance

NASDAQ CSCO opened at $57.50 on Thursday. The firm’s fifty day simple moving average is $54.68 and its two-hundred day simple moving average is $50.00. The firm has a market capitalization of $229.47 billion, a P/E ratio of 24.68, a P/E/G ratio of 4.63 and a beta of 0.83. The company has a current ratio of 0.88, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $59.38.

Cisco Systems (NASDAQ:CSCO) last posted 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 during the quarter, compared to analysts’ expectations of $13.78 billion. During the same quarter last year, the firm earned $0.98 EPS. The business’s quarterly revenue was down 5.6% on a year-over-year basis. Analysts forecast that Cisco Systems, Inc. will post 2.89 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders of record on Friday, January 3rd will be issued a dividend of $0.40 per share. The ex-dividend date is Friday, January 3rd. This represents a $1.60 annualized dividend and a dividend yield of 2.78%. Cisco Systems’s dividend payout ratio (DPR) is currently 68.67%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CSCO. Rosenblatt Securities increased their price target on Cisco Systems from $56.00 to $58.00 and gave the stock a “neutral” rating in a report on Thursday, August 15th. Hsbc Global Res upgraded shares of Cisco Systems to a “strong-buy” rating in a report on Friday, August 16th. Citigroup upped their target price on shares of Cisco Systems from $62.00 to $64.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Barclays lifted their price target on shares of Cisco Systems from $49.00 to $56.00 and gave the company an “equal weight” rating in a research note on Thursday, November 14th. Finally, Evercore ISI increased their price objective on Cisco Systems from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Friday, September 20th. Ten investment 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. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $59.94.

About Cisco Systems

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.