Toronto Dominion Bank Sells 833,345 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Toronto Dominion Bank decreased its stake in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 36.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,426,053 shares of the network equipment provider's stock after selling 833,345 shares during the period. Toronto Dominion Bank's holdings in Cisco Systems were worth $84,421,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CSCO. FMR LLC grew its holdings in Cisco Systems by 20.8% during the fourth quarter. FMR LLC now owns 77,216,513 shares of the network equipment provider's stock valued at $4,571,218,000 after purchasing an additional 13,285,052 shares during the period. Norges Bank purchased a new position in shares of Cisco Systems during the 4th quarter valued at $3,297,905,000. Northern Trust Corp grew its stake in shares of Cisco Systems by 11.4% during the 4th quarter. Northern Trust Corp now owns 47,238,258 shares of the network equipment provider's stock worth $2,796,505,000 after acquiring an additional 4,832,813 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Cisco Systems by 7.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 36,471,275 shares of the network equipment provider's stock worth $2,159,099,000 after acquiring an additional 2,637,006 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Cisco Systems by 2.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 29,419,041 shares of the network equipment provider's stock valued at $1,741,597,000 after acquiring an additional 681,555 shares during the period. 73.33% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Wells Fargo & Company upgraded shares of Cisco Systems from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $72.00 to $75.00 in a research report on Thursday, May 15th. New Street Research reaffirmed a "neutral" rating and issued a $70.00 price objective on shares of Cisco Systems in a report on Friday, May 16th. Barclays reissued an "equal weight" rating on shares of Cisco Systems in a report on Wednesday, May 21st. Citigroup raised their price target on Cisco Systems from $68.00 to $71.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. Finally, UBS Group boosted their price objective on Cisco Systems from $62.00 to $70.00 and gave the company a "neutral" rating in a research note on Thursday, February 13th. Eight research analysts have rated the stock with a hold rating, twelve have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $68.00.

Insider Activity at Cisco Systems

In related news, EVP Thimaya K. Subaiya sold 2,065 shares of Cisco Systems stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $60.70, for a total value of $125,345.50. Following the transaction, the executive vice president now owns 191,184 shares in the company, valued at $11,604,868.80. This trade represents a 1.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Oliver Tuszik sold 15,000 shares of the firm's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $63.53, for a total value of $952,950.00. Following the transaction, the executive vice president now directly owns 131,676 shares in the company, valued at $8,365,376.28. This trade represents a 10.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 41,616 shares of company stock valued at $2,640,095. Corporate insiders own 0.01% of the company's stock.

Cisco Systems Price Performance

Shares of CSCO stock traded down $0.62 during trading on Friday, hitting $62.43. The company had a trading volume of 4,641,027 shares, compared to its average volume of 21,834,375. The stock's 50-day moving average is $59.26 and its two-hundred day moving average is $60.07. The stock has a market capitalization of $247.24 billion, a price-to-earnings ratio of 27.26, a price-to-earnings-growth ratio of 4.16 and a beta of 0.89. The company has a quick ratio of 0.79, a current ratio of 0.87 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 $66.50.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its quarterly earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, topping analysts' consensus estimates of $0.92 by $0.04. Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. The firm had revenue of $14.15 billion for the quarter, compared to analyst estimates of $14.05 billion. During the same quarter in the prior year, the firm earned $0.88 EPS. The business's revenue for the quarter was up 11.4% compared to the same quarter last year. As a group, analysts predict that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 23rd. Stockholders of record on Thursday, July 3rd will be given a dividend of $0.41 per share. The ex-dividend date is Thursday, July 3rd. This represents a $1.64 annualized dividend and a dividend yield of 2.63%. Cisco Systems's dividend payout ratio (DPR) is presently 66.94%.

Cisco Systems announced that its Board of Directors has authorized a stock buyback plan on Wednesday, February 12th that authorizes the company to repurchase $15.00 billion in shares. This repurchase authorization authorizes the network equipment provider to reacquire up to 6% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board believes its stock is undervalued.

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.