TD Asset Management Inc Increases Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

TD Asset Management Inc lifted its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 1.4% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 2,449,095 shares of the network equipment provider’s stock after purchasing an additional 34,876 shares during the quarter. TD Asset Management Inc’s holdings in Cisco Systems were worth $116,357,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of Cisco Systems by 1,096.2% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,906,676 shares of the network equipment provider’s stock valued at $146,845,000 after buying an additional 2,663,676 shares in the last quarter. Thompson Siegel & Walmsley LLC raised its holdings in shares of Cisco Systems by 0.6% during the 4th quarter. Thompson Siegel & Walmsley LLC now owns 270,841 shares of the network equipment provider’s stock valued at $13,683,000 after buying an additional 1,520 shares in the last quarter. Marcum Wealth LLC raised its holdings in shares of Cisco Systems by 4.0% during the 1st quarter. Marcum Wealth LLC now owns 24,346 shares of the network equipment provider’s stock valued at $1,215,000 after buying an additional 943 shares in the last quarter. Inscription Capital LLC raised its holdings in shares of Cisco Systems by 49.4% during the 1st quarter. Inscription Capital LLC now owns 45,983 shares of the network equipment provider’s stock valued at $2,300,000 after buying an additional 15,198 shares in the last quarter. Finally, Ables Iannone Moore & Associates Inc. purchased a new position in shares of Cisco Systems during the 4th quarter valued at about $117,000. 73.33% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Cisco Systems news, SVP Maria Victoria Wong sold 3,379 shares of the business’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $50.36, for a total value of $170,166.44. Following the sale, the senior vice president now directly owns 47,182 shares of the company’s stock, valued at $2,376,085.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Cisco Systems news, SVP Maria Victoria Wong sold 3,379 shares of the business’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $50.36, for a total value of $170,166.44. Following the sale, the senior vice president now directly owns 47,182 shares of the company’s stock, valued at $2,376,085.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Deborah L. Stahlkopf sold 2,619 shares of the business’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $45.34, for a total value of $118,745.46. Following the completion of the transaction, the executive vice president now owns 176,384 shares of the company’s stock, valued at approximately $7,997,250.56. The disclosure for this sale can be found here. Over the last three months, insiders have sold 71,944 shares of company stock valued at $3,566,120. 0.02% of the stock is currently owned by corporate insiders.

Cisco Systems Trading Down 1.1 %

NASDAQ CSCO opened at $49.13 on Friday. The company has a quick ratio of 0.83, a current ratio of 0.91 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $57.47. The firm has a market capitalization of $197.94 billion, a PE ratio of 16.54, a P/E/G ratio of 3.98 and a beta of 0.83. The stock’s 50 day moving average is $47.82 and its 200 day moving average is $47.94.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.02. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. The company had revenue of $13.64 billion for the quarter, compared to analyst estimates of $13.53 billion. During the same period in the previous year, the company posted $1.01 earnings per share. The firm’s revenue was down 10.3% on a year-over-year basis. Research analysts forecast that Cisco Systems, Inc. will post 2.9 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 3.26%. The ex-dividend date is Wednesday, October 2nd. Cisco Systems’s dividend payout ratio (DPR) is 53.87%.

Wall Street Analyst Weigh In

A number of brokerages have commented on CSCO. Wells Fargo & Company lifted their price target on Cisco Systems from $52.00 to $57.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 16th. Hsbc Global Res raised Cisco Systems to a “strong-buy” rating in a research note on Friday, August 16th. Piper Sandler reaffirmed a “neutral” rating and issued a $52.00 price target on shares of Cisco Systems in a research note on Thursday, August 15th. New Street Research raised Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 price target on the stock in a research note on Thursday, August 15th. Finally, HSBC raised Cisco Systems from a “hold” rating to a “buy” rating and lifted their price target for the stock from $46.00 to $58.00 in a research note on Friday, August 16th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $55.89.

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.