Cisco Systems, Inc. (NASDAQ:CSCO) Shares Sold by Tocqueville Asset Management L.P.

Tocqueville Asset Management L.P. reduced its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 20.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 543,711 shares of the network equipment provider’s stock after selling 137,132 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in Cisco Systems were worth $29,757,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of CSCO. Baystate Wealth Management LLC increased its stake in Cisco Systems by 2.0% during the 2nd quarter. Baystate Wealth Management LLC now owns 10,228 shares of the network equipment provider’s stock worth $600,000 after buying an additional 202 shares during the period. Bartlett & Co. LLC increased its stake in Cisco Systems by 0.4% during the 2nd quarter. Bartlett & Co. LLC now owns 51,901 shares of the network equipment provider’s stock worth $2,841,000 after buying an additional 206 shares during the period. Barrow Hanley Mewhinney & Strauss LLC increased its stake in Cisco Systems by 6.1% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,609 shares of the network equipment provider’s stock worth $156,000 after buying an additional 207 shares during the period. Ford Financial Group Inc. increased its stake in Cisco Systems by 2.4% during the 2nd quarter. Ford Financial Group Inc. now owns 9,302 shares of the network equipment provider’s stock worth $509,000 after buying an additional 218 shares during the period. Finally, Bray Capital Advisors increased its stake in Cisco Systems by 2.8% during the 2nd quarter. Bray Capital Advisors now owns 8,217 shares of the network equipment provider’s stock worth $450,000 after buying an additional 220 shares during the period. Hedge funds and other institutional investors own 74.28% of the company’s stock.

NASDAQ CSCO opened at $46.96 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.51 and a quick ratio of 1.64. The firm’s fifty day moving average price is $55.20 and its 200 day moving average price is $53.85. The company has a market capitalization of $197.98 billion, a price-to-earnings ratio of 16.48, a price-to-earnings-growth ratio of 2.12 and a beta of 1.18. Cisco Systems, Inc. has a 12 month low of $40.25 and a 12 month high of $58.26.



Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, August 14th. The network equipment provider reported $0.83 EPS for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.01. The firm had revenue of $13.43 billion for the quarter, compared to the consensus estimate of $13.39 billion. Cisco Systems had a net margin of 22.39% and a return on equity of 32.43%. The company’s revenue was up 4.5% on a year-over-year basis. During the same period last year, the firm posted $0.70 EPS. As a group, sell-side analysts forecast that Cisco Systems, Inc. will post 3.11 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 24th. Investors of record on Friday, July 5th were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date of this dividend was Wednesday, July 3rd. Cisco Systems’s dividend payout ratio (DPR) is 49.12%.

CSCO has been the topic of a number of recent analyst reports. Oppenheimer increased their price objective on shares of Cisco Systems from $52.00 to $60.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Jefferies Financial Group increased their price objective on shares of Cisco Systems from $55.00 to $62.00 and gave the company a “buy” rating in a research report on Thursday, May 16th. They noted that the move was a valuation call. UBS Group set a $58.00 price objective on shares of Cisco Systems and gave the company a “buy” rating in a research report on Thursday. Cowen dropped their price objective on shares of Cisco Systems from $65.00 to $61.00 and set an “outperform” rating on the stock in a research report on Thursday. Finally, Citigroup dropped their price objective on shares of Cisco Systems from $65.00 to $57.00 and set a “buy” rating on the stock in a research report on Thursday. One analyst has rated the stock with a sell rating, seven have given a hold rating and twenty have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $56.59.

In related news, EVP Mark D. Chandler sold 1,379 shares of the stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $55.94, for a total value of $77,141.26. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Steven M. West sold 20,000 shares of the stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $56.21, for a total transaction of $1,124,200.00. Following the completion of the transaction, the director now directly owns 5,263 shares in the company, valued at $295,833.23. The disclosure for this sale can be found here. Insiders sold a total of 95,129 shares of company stock worth $5,159,754 over the last ninety days. Insiders own 0.03% 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 worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.

Featured Article: Correction

Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

Receive News & Ratings for Cisco Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cisco Systems and related companies with MarketBeat.com's FREE daily email newsletter.