Toronto Dominion Bank Has $84.42 Million Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Toronto Dominion Bank lowered its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 36.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,426,053 shares of the network equipment provider's stock after selling 833,345 shares during the quarter. Toronto Dominion Bank's holdings in Cisco Systems were worth $84,421,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Redhawk Wealth Advisors Inc. acquired a new stake in Cisco Systems in the 4th quarter valued at $209,000. Tallon Kerry Patrick acquired a new stake in shares of Cisco Systems in the fourth quarter valued at about $603,000. Empirical Asset Management LLC raised its holdings in Cisco Systems by 39.6% during the fourth quarter. Empirical Asset Management LLC now owns 46,338 shares of the network equipment provider's stock worth $2,743,000 after acquiring an additional 13,155 shares in the last quarter. Wealthcare Advisory Partners LLC boosted its position in Cisco Systems by 3.0% during the fourth quarter. Wealthcare Advisory Partners LLC now owns 74,729 shares of the network equipment provider's stock valued at $4,424,000 after purchasing an additional 2,151 shares during the last quarter. Finally, Chemistry Wealth Management LLC bought a new position in Cisco Systems in the fourth quarter valued at approximately $210,000. 73.33% of the stock is owned by institutional investors.

Insider Activity

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 11,808 shares of the firm's stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $64.37, for a total value of $760,080.96. Following the sale, the executive vice president now owns 200,191 shares in the company, valued at $12,886,294.67. This trade represents a 5.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Maria Victoria Wong sold 762 shares of the company's stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $60.99, for a total transaction of $46,474.38. Following the transaction, the senior vice president now owns 44,155 shares of the company's stock, valued at $2,693,013.45. This trade represents a 1.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 14,635 shares of company stock worth $931,901. Insiders own 0.01% of the company's stock.

Cisco Systems Stock Down 1.0%

Shares of NASDAQ CSCO opened at $63.62 on Friday. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $66.50. The stock's fifty day moving average is $58.75 and its 200 day moving average is $59.69. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87. The stock has a market capitalization of $253.10 billion, a P/E ratio of 27.78, a PEG ratio of 4.16 and a beta of 0.89.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its earnings results on Wednesday, May 14th. The network equipment provider reported $0.96 EPS for the quarter, beating the consensus estimate of $0.91 by $0.05. The company had revenue of $14.15 billion during the quarter, compared to analysts' expectations of $14.05 billion. Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. During the same period in the previous year, the company earned $0.88 EPS. Sell-side analysts forecast that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems announced that its board has authorized a stock buyback program on Wednesday, February 12th that permits the company to buyback $15.00 billion in outstanding shares. This buyback authorization permits the network equipment provider to repurchase up to 6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's management believes its stock is undervalued.

Cisco Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 23rd. Shareholders of record on Thursday, July 3rd will be issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date is Thursday, July 3rd. Cisco Systems's dividend payout ratio is presently 71.62%.

Wall Street Analysts Forecast Growth

CSCO has been the topic of a number of analyst reports. DZ Bank upgraded Cisco Systems from a "hold" rating to a "buy" rating in a research note on Tuesday, February 18th. New Street Research reaffirmed a "neutral" rating and set a $70.00 price target on shares of Cisco Systems in a research report on Friday. Barclays lifted their price objective on shares of Cisco Systems from $61.00 to $66.00 and gave the company an "equal weight" rating in a research report on Thursday. Citigroup upped their target price on shares of Cisco Systems from $68.00 to $71.00 and gave the company a "buy" rating in a report on Thursday. Finally, StockNews.com upgraded Cisco Systems from a "buy" rating to a "strong-buy" rating in a report on Friday. Seven analysts have rated the stock with a hold rating, thirteen have issued a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat.com, Cisco Systems presently has an average rating of "Moderate Buy" and an average price target of $68.00.

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.

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