TD Private Client Wealth LLC Has $5.24 Million Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

TD Private Client Wealth LLC decreased its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 2.7% in the 3rd quarter, Holdings Channel reports. The fund owned 98,409 shares of the network equipment provider’s stock after selling 2,756 shares during the period. TD Private Client Wealth LLC’s holdings in Cisco Systems were worth $5,237,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in CSCO. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in Cisco Systems by 59.3% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 775,559 shares of the network equipment provider’s stock valued at $36,847,000 after buying an additional 288,775 shares in the last quarter. Morse Asset Management Inc acquired a new stake in shares of Cisco Systems during the 3rd quarter valued at $798,000. Citizens Financial Group Inc. RI grew its position in Cisco Systems by 24.4% during the 2nd quarter. Citizens Financial Group Inc. RI now owns 264,647 shares of the network equipment provider’s stock worth $12,573,000 after acquiring an additional 51,924 shares during the last quarter. HighVista Strategies LLC acquired a new position in Cisco Systems in the 3rd quarter worth about $1,698,000. Finally, Commerzbank Aktiengesellschaft FI raised its position in Cisco Systems by 10.9% in the third quarter. Commerzbank Aktiengesellschaft FI now owns 1,658,417 shares of the network equipment provider’s stock valued at $88,261,000 after purchasing an additional 162,544 shares during the last quarter. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Down 0.4 %

CSCO stock opened at $58.72 on Wednesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.80 and a current ratio of 0.88. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $60.23. The stock’s 50 day simple moving average is $56.65 and its 200 day simple moving average is $51.05. The company has a market cap of $233.87 billion, a P/E ratio of 25.20, a price-to-earnings-growth ratio of 4.39 and a beta of 0.85.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.04. The company had revenue of $13.84 billion for the quarter, compared to analysts’ expectations of $13.78 billion. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. Cisco Systems’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same period last year, the business earned $0.98 EPS. On average, research analysts expect that Cisco Systems, Inc. will post 2.97 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Investors of record on Friday, January 3rd will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.72%. Cisco Systems’s dividend payout ratio is presently 68.67%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on CSCO shares. New Street Research upgraded Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price target on the stock in a report on Thursday, August 15th. HSBC upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and upped their price target for the company from $46.00 to $58.00 in a research report on Friday, August 16th. Hsbc Global Res upgraded shares of Cisco Systems to a “strong-buy” rating in a report on Friday, August 16th. Piper Sandler increased their price objective on Cisco Systems from $52.00 to $57.00 and gave the company a “neutral” rating in a report on Thursday, November 14th. Finally, Evercore ISI raised their target price on Cisco Systems from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Friday, September 20th. Ten analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $59.94.

Insider Activity at Cisco Systems

In other news, CEO Charles Robbins sold 171,744 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $57.49, for a total value of $9,873,562.56. Following the completion of the sale, the chief executive officer now owns 783,786 shares in the company, valued at $45,059,857.14. This represents a 17.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Thimaya K. Subaiya sold 1,328 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $48.92, for a total transaction of $64,965.76. Following the transaction, the executive vice president now owns 132,910 shares in the company, valued at approximately $6,501,957.20. This trade represents a 0.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 351,860 shares of company stock valued at $20,231,558. 0.01% of the stock is owned by corporate insiders.

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.