TD Waterhouse Canada Inc. Reduces Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

TD Waterhouse Canada Inc. cut its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 15.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 117,808 shares of the network equipment provider's stock after selling 21,133 shares during the period. TD Waterhouse Canada Inc.'s holdings in Cisco Systems were worth $6,971,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. FPC Investment Advisory Inc. acquired a new stake in shares of Cisco Systems in the fourth quarter worth $26,000. Runnymede Capital Advisors Inc. bought a new position in Cisco Systems during the fourth quarter valued at about $30,000. Campbell Capital Management Inc. acquired a new position in shares of Cisco Systems during the 4th quarter valued at about $31,000. Highline Wealth Partners LLC boosted its position in Cisco Systems by 76.7% during the fourth quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider's stock worth $35,000 after purchasing an additional 260 shares during the period. Finally, Synergy Investment Management LLC acquired a new position in Cisco Systems in the 4th quarter valued at $36,000. 73.33% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Charles Robbins sold 31,983 shares of the firm's stock in a transaction on Friday, February 14th. The shares were sold at an average price of $64.41, for a total transaction of $2,060,025.03. Following the sale, the chief executive officer now owns 736,120 shares in the company, valued at approximately $47,413,489.20. This trade represents a 4.16 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Thimaya K. Subaiya sold 2,065 shares of the stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $60.70, for a total value of $125,345.50. Following the completion of the transaction, the executive vice president now directly owns 191,184 shares in the company, valued at approximately $11,604,868.80. This represents a 1.07 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 66,547 shares of company stock worth $4,275,553. 0.01% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

CSCO has been the subject of a number of research analyst reports. Citigroup cut their price target on Cisco Systems from $73.00 to $68.00 and set a "buy" rating for the company in a report on Monday, April 14th. Melius upgraded Cisco Systems from a "hold" rating to a "buy" rating and raised their target price for the stock from $66.00 to $73.00 in a research report on Monday, January 6th. Rosenblatt Securities dropped their target price on shares of Cisco Systems from $80.00 to $63.00 and set a "buy" rating for the company in a research report on Tuesday. JPMorgan Chase & Co. decreased their target price on Cisco Systems from $73.00 to $70.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Finally, Wells Fargo & Company reaffirmed an "equal weight" rating on shares of Cisco Systems in a report on Thursday, March 6th. Seven research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Cisco Systems currently has an average rating of "Moderate Buy" and an average target price of $64.68.

Cisco Systems Stock Performance

Cisco Systems stock traded up $0.42 during mid-day trading on Friday, reaching $56.71. The company's stock had a trading volume of 16,493,138 shares, compared to its average volume of 20,200,511. The company has a market capitalization of $225.61 billion, a P/E ratio of 24.76, a PEG ratio of 4.16 and a beta of 0.86. The firm's fifty day moving average price is $59.99 and its two-hundred day moving average price is $59.16. Cisco Systems, Inc. has a 12-month low of $44.50 and a 12-month high of $66.50. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.79 and a current ratio of 0.87.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its quarterly earnings data on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.91 by ($0.14). Cisco Systems had a net margin of 16.96% and a return on equity of 26.08%. Sell-side analysts predict that Cisco Systems, Inc. will post 3.04 EPS for the current fiscal year.

Cisco Systems announced that its Board of Directors has authorized a share buyback program on Wednesday, February 12th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the network equipment provider to purchase up to 6% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board believes its stock is undervalued.

Cisco Systems Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 23rd. Investors of record on Thursday, April 3rd were given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 2.89%. This is a boost from Cisco Systems's previous quarterly dividend of $0.40. The ex-dividend date was Thursday, April 3rd. Cisco Systems's payout ratio is presently 71.62%.

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.