Toronto Dominion Bank Sells 369,357 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Toronto Dominion Bank cut its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 13.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,385,669 shares of the network equipment provider’s stock after selling 369,357 shares during the quarter. Toronto Dominion Bank owned approximately 0.06% of Cisco Systems worth $113,343,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of CSCO. Gilbert & Cook Inc. boosted its holdings in Cisco Systems by 1.1% in the fourth quarter. Gilbert & Cook Inc. now owns 23,417 shares of the network equipment provider’s stock worth $1,183,000 after acquiring an additional 264 shares in the last quarter. Gryphon Financial Partners LLC grew its position in Cisco Systems by 104.2% in the 4th quarter. Gryphon Financial Partners LLC now owns 23,064 shares of the network equipment provider’s stock valued at $1,177,000 after purchasing an additional 11,767 shares during the period. Cape Investment Advisory Inc. increased its stake in Cisco Systems by 43.4% during the 4th quarter. Cape Investment Advisory Inc. now owns 1,908 shares of the network equipment provider’s stock valued at $96,000 after purchasing an additional 577 shares in the last quarter. Steward Partners Investment Advisory LLC raised its holdings in Cisco Systems by 12.4% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 556,994 shares of the network equipment provider’s stock worth $28,139,000 after buying an additional 61,373 shares during the last quarter. Finally, Portfolio Design Labs LLC bought a new position in shares of Cisco Systems in the fourth quarter valued at $1,488,000. 73.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CSCO has been the subject of several recent research reports. Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a research report on Thursday, August 15th. Jefferies Financial Group decreased their price objective on Cisco Systems from $56.00 to $53.00 and set a “buy” rating for the company in a report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft raised their target price on Cisco Systems from $52.00 to $53.00 and gave the company a “hold” rating in a report on Thursday, August 15th. Evercore ISI upped their price target on Cisco Systems from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Friday, September 20th. Finally, HSBC upgraded Cisco Systems from a “hold” rating to a “buy” rating and raised their price objective for the company from $46.00 to $58.00 in a research note on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $55.00.

Cisco Systems Trading Up 0.6 %

Shares of CSCO stock opened at $52.52 on Wednesday. The stock has a market capitalization of $209.59 billion, a price-to-earnings ratio of 17.68, a PEG ratio of 4.11 and a beta of 0.83. The company’s fifty day simple moving average is $48.72 and its two-hundred day simple moving average is $48.08. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $54.58. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.91 and a quick ratio of 0.83.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. The business had revenue of $13.64 billion for the quarter, compared to analysts’ expectations of $13.53 billion. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The firm’s quarterly revenue was down 10.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.01 EPS. As a group, analysts anticipate that Cisco Systems, Inc. will post 2.9 earnings per share for the current year.

Cisco Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be paid a dividend of $0.40 per share. The ex-dividend date is Wednesday, October 2nd. This represents a $1.60 annualized dividend and a yield of 3.05%. Cisco Systems’s dividend payout ratio is currently 53.87%.

Insider Buying and Selling

In other 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 transaction, the executive vice president now directly owns 132,910 shares in the company, valued at approximately $6,501,957.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Cisco Systems news, EVP Thimaya K. Subaiya sold 1,328 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $48.92, for a total value of $64,965.76. Following the sale, the executive vice president now owns 132,910 shares of the company’s stock, valued at approximately $6,501,957.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Maria Victoria Wong sold 3,379 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $50.36, for a total transaction of $170,166.44. Following the completion of the sale, the senior vice president now directly owns 47,182 shares in the company, valued at $2,376,085.52. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 70,529 shares of company stock valued at $3,509,049. Company insiders own 0.02% of the company’s stock.

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.