Cisco Systems, Inc. (NASDAQ:CSCO) Holdings Cut by Toronto Dominion Bank

Toronto Dominion Bank lowered its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 5.3% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,259,398 shares of the network equipment provider's stock after selling 126,271 shares during the quarter. Toronto Dominion Bank owned 0.06% of Cisco Systems worth $120,245,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Summit Securities Group LLC acquired a new stake in Cisco Systems in the 2nd quarter worth about $25,000. West Financial Advisors LLC increased its holdings in shares of Cisco Systems by 116.6% during the 3rd quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider's stock worth $31,000 after buying an additional 309 shares during the last quarter. Quarry LP boosted its holdings in Cisco Systems by 222.4% in the second quarter. Quarry LP now owns 661 shares of the network equipment provider's stock valued at $31,000 after acquiring an additional 456 shares during the last quarter. RPg Family Wealth Advisory LLC acquired a new stake in Cisco Systems during the 3rd quarter worth approximately $40,000. Finally, Hobbs Group Advisors LLC purchased a new position in Cisco Systems in the second quarter valued at approximately $36,000. Hedge funds and other institutional investors own 73.33% of the company's stock.

Cisco Systems Stock Performance

NASDAQ:CSCO traded up $0.03 during midday trading on Wednesday, reaching $58.75. 6,786,813 shares of the company traded hands, compared to its average volume of 19,015,098. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $60.23. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.88 and a quick ratio of 0.80. The company has a fifty day moving average price of $56.77 and a 200 day moving average price of $51.14. The firm has a market capitalization of $233.99 billion, a price-to-earnings ratio of 25.18, a price-to-earnings-growth ratio of 4.39 and a beta of 0.85.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.04. The firm had revenue of $13.84 billion for the quarter, compared to the consensus estimate of $13.78 billion. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The firm's revenue for the quarter was down 5.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.98 EPS. On average, analysts expect that Cisco Systems, Inc. will post 2.97 EPS for the current fiscal year.

Cisco Systems Announces Dividend

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

Insider Activity

In related news, SVP Maria Victoria Wong sold 638 shares of Cisco Systems stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $49.09, for a total value of $31,319.42. Following the transaction, the senior vice president now owns 46,017 shares of the company's stock, valued at approximately $2,258,974.53. This trade represents a 1.37 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Thimaya K. Subaiya sold 1,328 shares of the company's stock in a transaction that occurred 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 sale, the executive vice president now owns 132,910 shares of the company's stock, valued at approximately $6,501,957.20. This trade represents a 0.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 351,860 shares of company stock worth $20,231,558 over the last 90 days. 0.01% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

CSCO has been the subject of several recent research reports. Morgan Stanley increased their price target on Cisco Systems from $58.00 to $62.00 and gave the company an "overweight" rating in a report on Thursday, November 14th. Needham & Company LLC reaffirmed a "hold" rating on shares of Cisco Systems in a research report on Thursday, August 15th. Citigroup boosted their target price on shares of Cisco Systems from $62.00 to $64.00 and gave the stock a "buy" rating in a research report on Thursday, November 14th. Hsbc Global Res raised shares of Cisco Systems to a "strong-buy" rating in a research note on Friday, August 16th. Finally, StockNews.com raised shares of Cisco Systems from a "hold" rating to a "buy" rating in a research report on Thursday, November 14th. Ten research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $59.94.

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.