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

TD Asset Management Inc. raised its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 2,537,560 shares of the network equipment provider’s stock after buying an additional 19,831 shares during the period. TD Asset Management Inc. owned about 0.06% of Cisco Systems worth $150,224,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. FPC Investment Advisory Inc. purchased a new position in Cisco Systems during the fourth quarter valued at approximately $26,000. Runnymede Capital Advisors Inc. purchased a new position in shares of Cisco Systems during the 4th quarter valued at approximately $30,000. Campbell Capital Management Inc. acquired a new position in shares of Cisco Systems in the 4th quarter valued at $31,000. Highline Wealth Partners LLC boosted its holdings 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 buying an additional 260 shares in the last quarter. Finally, Synergy Investment Management LLC acquired a new stake in Cisco Systems during the fourth quarter valued at $36,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

Cisco Systems Price Performance

CSCO stock opened at $60.99 on Wednesday. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $66.50. The firm has a market capitalization of $242.64 billion, a PE ratio of 26.63, a price-to-earnings-growth ratio of 4.16 and a beta of 0.79. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.87 and a quick ratio of 0.79. The business has a 50 day simple moving average of $62.03 and a 200-day simple moving average of $58.34.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results 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 return on equity of 26.08% and a net margin of 16.96%. Equities research analysts anticipate that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems declared that its board has approved a share repurchase program on Wednesday, February 12th that permits the company to buyback $15.00 billion in outstanding shares. This buyback authorization permits the network equipment provider to purchase up to 6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Cisco Systems Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Thursday, April 3rd will be issued a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 2.69%. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.40. The ex-dividend date is Thursday, April 3rd. Cisco Systems’s payout ratio is presently 71.62%.

Insider Activity

In related news, EVP Thimaya K. Subaiya sold 2,065 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $60.70, for a total transaction of $125,345.50. Following the completion of the sale, the executive vice president now directly owns 191,184 shares of the company’s stock, valued at approximately $11,604,868.80. This trade represents a 1.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Maria Victoria Wong sold 762 shares of the company’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $60.99, for a total transaction of $46,474.38. Following the completion of the transaction, the senior vice president now directly owns 44,155 shares in the company, valued at $2,693,013.45. The trade was a 1.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 66,547 shares of company stock valued at $4,275,553 in the last 90 days. Company insiders own 0.01% of the company’s stock.

Analyst Upgrades and Downgrades

CSCO has been the subject of a number of analyst reports. Melius Research upgraded shares of Cisco Systems from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 6th. Citigroup reaffirmed an “overweight” rating on shares of Cisco Systems in a report on Thursday, March 6th. Barclays reissued an “equal weight” rating on shares of Cisco Systems in a report on Thursday, March 6th. UBS Group increased their target price on Cisco Systems from $62.00 to $70.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Finally, BNP Paribas raised shares of Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 price target for the company in a report on Tuesday, January 28th. Seven analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Cisco Systems has an average rating of “Moderate Buy” and an average price target of $66.63.

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.