Synovus Financial Corp lowered its position in shares of Cisco Systems Inc. (NASDAQ:CSCO) by 7.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 404,201 shares of the network equipment provider’s stock after selling 32,042 shares during the period. Synovus Financial Corp’s holdings in Cisco Systems were worth $12,816,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Proficio Capital Partners LLC increased its stake in Cisco Systems by 7.0% in the third quarter. Proficio Capital Partners LLC now owns 3,211 shares of the network equipment provider’s stock valued at $102,000 after buying an additional 210 shares in the last quarter. Orrstown Financial Services Inc. increased its stake in Cisco Systems by 89.3% in the third quarter. Orrstown Financial Services Inc. now owns 3,243 shares of the network equipment provider’s stock valued at $103,000 after buying an additional 1,530 shares in the last quarter. Reilly Financial Advisors LLC increased its stake in Cisco Systems by 9.5% in the third quarter. Reilly Financial Advisors LLC now owns 3,289 shares of the network equipment provider’s stock valued at $104,000 after buying an additional 286 shares in the last quarter. Lenox Wealth Management Inc. increased its stake in Cisco Systems by 35.0% in the second quarter. Lenox Wealth Management Inc. now owns 3,835 shares of the network equipment provider’s stock valued at $110,000 after buying an additional 995 shares in the last quarter. Finally, Global X Management Co. LLC increased its stake in Cisco Systems by 101.9% in the second quarter. Global X Management Co. LLC now owns 4,244 shares of the network equipment provider’s stock valued at $122,000 after buying an additional 2,142 shares in the last quarter. Institutional investors and hedge funds own 74.13% of the company’s stock.

Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

Cisco Systems Inc. (NASDAQ:CSCO) traded down 0.62% during trading on Tuesday, hitting $30.56. 17,450,229 shares of the company traded hands. The stock has a 50-day moving average price of $30.36 and a 200-day moving average price of $30.36. Cisco Systems Inc. has a 12-month low of $22.46 and a 12-month high of $31.95. The firm has a market capitalization of $153.40 billion, a P/E ratio of 14.62 and a beta of 1.38.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, November 16th. The network equipment provider reported $0.61 EPS for the quarter, topping the consensus estimate of $0.59 by $0.02. The company earned $12.35 billion during the quarter, compared to the consensus estimate of $12.34 billion. Cisco Systems had a net margin of 21.73% and a return on equity of 17.50%. The company’s quarterly revenue was down 2.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.59 EPS. Equities analysts expect that Cisco Systems Inc. will post $2.37 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 25th. Stockholders of record on Friday, January 6th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 3.40%. The ex-dividend date is Wednesday, January 4th. Cisco Systems’s dividend payout ratio (DPR) is 49.52%.

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CSCO has been the subject of several recent research reports. Vetr raised shares of Cisco Systems from a “hold” rating to a “buy” rating and set a $33.45 target price for the company in a research report on Wednesday, September 7th. Deutsche Bank AG reissued a “buy” rating and issued a $35.00 target price on shares of Cisco Systems in a research report on Tuesday, September 6th. Jefferies Group reissued a “buy” rating and issued a $35.00 target price on shares of Cisco Systems in a research report on Monday, August 29th. Zacks Investment Research raised shares of Cisco Systems from a “hold” rating to a “buy” rating and set a $34.00 target price for the company in a research report on Tuesday, October 18th. Finally, Robert W. Baird reaffirmed a “buy” rating on shares of Cisco Systems in a report on Wednesday, November 2nd. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $32.81.

In other news, Director John L. Hennessy sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 21st. The shares were sold at an average price of $31.25, for a total transaction of $468,750.00. Following the completion of the sale, the director now owns 88,369 shares of the company’s stock, valued at approximately $2,761,531.25. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Mark D. Chandler sold 62,910 shares of the stock in a transaction on Friday, September 23rd. The stock was sold at an average price of $31.40, for a total value of $1,975,374.00. Following the completion of the transaction, the senior vice president now owns 286,628 shares in the company, valued at $9,000,119.20. The disclosure for this sale can be found here. Insiders own 0.11% of the company’s stock.

About Cisco Systems

Cisco Systems, Inc designs and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The Company operates through three geographic segments: Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific, Japan and China (APJC).

5 Day Chart for NASDAQ:CSCO

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