TD Private Client Wealth LLC Reduces Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

TD Private Client Wealth LLC trimmed its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 1.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 97,157 shares of the network equipment provider’s stock after selling 1,252 shares during the quarter. TD Private Client Wealth LLC’s holdings in Cisco Systems were worth $5,752,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in CSCO. FPC Investment Advisory Inc. acquired a new position in shares of Cisco Systems in the fourth quarter worth $26,000. Campbell Capital Management Inc. acquired a new position in shares of Cisco Systems in the fourth quarter worth $31,000. Highline Wealth Partners LLC raised its holdings in shares of Cisco Systems by 76.7% in the fourth quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock worth $35,000 after acquiring an additional 260 shares during the last quarter. Synergy Investment Management LLC acquired a new position in shares of Cisco Systems in the fourth quarter worth $36,000. Finally, RPg Family Wealth Advisory LLC acquired a new position in shares of Cisco Systems in the third quarter worth $40,000. 73.33% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, SVP Maria Victoria Wong sold 762 shares of the business’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $60.99, for a total value of $46,474.38. Following the transaction, the senior vice president now owns 44,155 shares in the company, valued at approximately $2,693,013.45. The trade was a 1.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Charles Robbins sold 31,983 shares of the business’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $64.41, for a total value of $2,060,025.03. Following the completion of the transaction, the chief executive officer now owns 736,120 shares in the company, valued at approximately $47,413,489.20. This trade represents a 4.16 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 66,547 shares of company stock worth $4,275,553. 0.01% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

CSCO has been the subject of a number of analyst reports. DZ Bank raised Cisco Systems from a “hold” rating to a “buy” rating in a report on Tuesday, February 18th. Rosenblatt Securities upgraded Cisco Systems from a “neutral” rating to a “buy” rating and upped their target price for the company from $66.00 to $80.00 in a research note on Thursday, February 13th. JPMorgan Chase & Co. upped their target price on Cisco Systems from $69.00 to $73.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Melius upgraded Cisco Systems from a “hold” rating to a “buy” rating and upped their target price for the company from $66.00 to $73.00 in a research note on Monday, January 6th. Finally, StockNews.com lowered Cisco Systems from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, March 5th. Seven investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Cisco Systems has an average rating of “Moderate Buy” and an average price target of $66.63.

Cisco Systems Price Performance

Shares of NASDAQ CSCO opened at $60.62 on Friday. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $66.50. The business has a 50-day moving average of $61.92 and a 200-day moving average of $57.98. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.87 and a quick ratio of 0.79. The company has a market capitalization of $241.16 billion, a price-to-earnings ratio of 26.47, a PEG ratio of 4.16 and a beta of 0.79.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.14). Cisco Systems had a return on equity of 26.08% and a net margin of 16.96%. On average, equities analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems announced that its Board of Directors has initiated a stock buyback plan 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 buy up to 6% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Cisco Systems Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Thursday, April 3rd will be paid a $0.41 dividend. This is a boost from Cisco Systems’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $1.64 annualized dividend and a dividend yield of 2.71%. Cisco Systems’s payout ratio is 71.62%.

About Cisco Systems

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.