Pinnacle Financial Partners Inc Sells 12,127 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Pinnacle Financial Partners Inc lessened its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 10.4% in the third quarter, Holdings Channel.com reports. The firm owned 104,236 shares of the network equipment provider’s stock after selling 12,127 shares during the period. Pinnacle Financial Partners Inc’s holdings in Cisco Systems were worth $5,547,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of the business. Rossmore Private Capital raised its stake in shares of Cisco Systems by 2.5% during the 3rd quarter. Rossmore Private Capital now owns 69,063 shares of the network equipment provider’s stock valued at $3,676,000 after purchasing an additional 1,688 shares during the period. Community Bank & Trust Waco Texas boosted its holdings in Cisco Systems by 0.7% in the 3rd quarter. Community Bank & Trust Waco Texas now owns 107,736 shares of the network equipment provider’s stock valued at $5,734,000 after purchasing an additional 767 shares during the period. Empower Advisory Group LLC grew its position in shares of Cisco Systems by 3.0% during the 3rd quarter. Empower Advisory Group LLC now owns 60,191 shares of the network equipment provider’s stock valued at $3,203,000 after purchasing an additional 1,760 shares in the last quarter. RPG Investment Advisory LLC increased its holdings in shares of Cisco Systems by 6.4% in the third quarter. RPG Investment Advisory LLC now owns 152,220 shares of the network equipment provider’s stock worth $8,101,000 after purchasing an additional 9,112 shares during the period. Finally, Barnett & Company Inc. bought a new stake in Cisco Systems during the third quarter valued at $221,000. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Charles Robbins sold 27,143 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the transaction, the chief executive officer now owns 683,403 shares in the company, valued at $33,794,278.35. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Charles Robbins sold 27,143 shares of Cisco Systems stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $49.45, for a total transaction of $1,342,221.35. Following the sale, the chief executive officer now directly owns 683,403 shares in the company, valued at $33,794,278.35. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Thimaya K. Subaiya sold 1,328 shares of the 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 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. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 70,529 shares of company stock worth $3,509,049. 0.01% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

CSCO has been the topic of several recent analyst reports. Evercore ISI raised their price target on Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Friday, September 20th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Cisco Systems from $52.00 to $53.00 and gave the company a “hold” rating in a research report on Thursday, August 15th. StockNews.com lowered shares of Cisco Systems from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cisco Systems in a report on Thursday, August 15th. Finally, Hsbc Global Res raised Cisco Systems to a “strong-buy” rating in a research note on Friday, August 16th. Twelve equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Cisco Systems currently has a consensus rating of “Moderate Buy” and an average price target of $57.32.

Cisco Systems Stock Performance

Shares of NASDAQ:CSCO opened at $59.18 on Thursday. The company has a current ratio of 0.91, a quick ratio of 0.83 and a debt-to-equity ratio of 0.43. The company has a 50-day moving average price of $53.64 and a 200-day moving average price of $49.57. The company has a market cap of $236.17 billion, a price-to-earnings ratio of 23.30, a price-to-earnings-growth ratio of 4.86 and a beta of 0.83. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $59.38.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.02. The business had revenue of $13.64 billion during the quarter, compared to analysts’ expectations of $13.53 billion. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The business’s revenue was down 10.3% on a year-over-year basis. During the same quarter last year, the business posted $1.01 EPS. As a group, equities analysts anticipate that Cisco Systems, Inc. will post 2.89 EPS for the current year.

Cisco Systems Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.70%. Cisco Systems’s payout ratio is currently 62.99%.

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.