Simmons Bank Sells 5,162 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Simmons Bank lowered its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 3.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 158,778 shares of the network equipment provider’s stock after selling 5,162 shares during the period. Simmons Bank’s holdings in Cisco Systems were worth $8,450,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in CSCO. Community Bank & Trust Waco Texas raised its stake in Cisco Systems by 0.7% during the 3rd quarter. Community Bank & Trust Waco Texas now owns 107,736 shares of the network equipment provider’s stock worth $5,734,000 after buying an additional 767 shares during the period. Empower Advisory Group LLC increased its position in shares of Cisco Systems by 3.0% during the third quarter. Empower Advisory Group LLC now owns 60,191 shares of the network equipment provider’s stock worth $3,203,000 after acquiring an additional 1,760 shares in the last quarter. RPG Investment Advisory LLC raised its holdings in shares of Cisco Systems by 6.4% in the 3rd quarter. RPG Investment Advisory LLC now owns 152,220 shares of the network equipment provider’s stock worth $8,101,000 after acquiring an additional 9,112 shares during the last quarter. Barnett & Company Inc. bought a new position in shares of Cisco Systems in the third quarter valued at approximately $221,000. Finally, Aptus Capital Advisors LLC raised its position in Cisco Systems by 19.9% in the 3rd quarter. Aptus Capital Advisors LLC now owns 60,629 shares of the network equipment provider’s stock valued at $3,227,000 after buying an additional 10,066 shares during the last quarter. 73.33% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently weighed in on CSCO shares. Needham & Company LLC restated a “hold” rating on shares of Cisco Systems in a report on Thursday, August 15th. Tigress Financial boosted their price target on shares of Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Citigroup upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and boosted their target price for the company from $52.00 to $62.00 in a research note on Wednesday, October 16th. New Street Research raised Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price objective for the company in a report on Thursday, August 15th. Finally, Evercore ISI boosted their target price on Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Friday, September 20th. Twelve equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Cisco Systems presently has an average rating of “Moderate Buy” and an average target price of $57.32.

Cisco Systems Price Performance

Shares of NASDAQ CSCO opened at $58.71 on Wednesday. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $59.38. The company’s 50-day moving average is $53.64 and its 200 day moving average is $49.57. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.91 and a quick ratio of 0.83. The stock has a market capitalization of $234.30 billion, a P/E ratio of 23.11, a P/E/G ratio of 4.86 and a beta of 0.83.

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

Insider Buying and Selling

In other news, CEO Charles Robbins sold 27,143 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $49.45, for a total value of $1,342,221.35. Following the sale, the chief executive officer now directly owns 683,403 shares of the company’s stock, valued at approximately $33,794,278.35. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Cisco Systems news, EVP Thimaya K. Subaiya sold 1,328 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $48.92, for a total transaction of $64,965.76. Following the completion of the sale, the executive vice president now directly owns 132,910 shares in the company, valued at approximately $6,501,957.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Charles Robbins sold 27,143 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $49.45, for a total value of $1,342,221.35. Following the sale, the chief executive officer now owns 683,403 shares of the company’s stock, valued at approximately $33,794,278.35. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 70,529 shares of company stock valued at $3,509,049 over the last quarter. Corporate 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.