Tocqueville Asset Management L.P. Sells 84,264 Shares of Cisco Systems, Inc. $CSCO

Tocqueville Asset Management L.P. decreased its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 19.4% during the third quarter, Holdings Channel reports. The firm owned 349,667 shares of the network equipment provider’s stock after selling 84,264 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in Cisco Systems were worth $23,924,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of CSCO. Benchmark Financial Wealth Advisors LLC boosted its holdings in shares of Cisco Systems by 1.4% in the third quarter. Benchmark Financial Wealth Advisors LLC now owns 10,449 shares of the network equipment provider’s stock worth $715,000 after buying an additional 142 shares during the last quarter. Cobblestone Capital Advisors LLC NY boosted its stake in shares of Cisco Systems by 0.6% in the third quarter. Cobblestone Capital Advisors LLC NY now owns 24,622 shares of the network equipment provider’s stock worth $1,685,000 after acquiring an additional 142 shares during the period. Yoder Wealth Management Inc. boosted its stake in Cisco Systems by 3.8% in the 3rd quarter. Yoder Wealth Management Inc. now owns 3,945 shares of the network equipment provider’s stock worth $270,000 after purchasing an additional 143 shares during the period. Weaver Consulting Group grew its stake in Cisco Systems by 1.5% during the third quarter. Weaver Consulting Group now owns 9,940 shares of the network equipment provider’s stock valued at $680,000 after acquiring an additional 145 shares in the last quarter. Finally, Wynn Capital LLC increased its holdings in shares of Cisco Systems by 0.3% in the third quarter. Wynn Capital LLC now owns 48,456 shares of the network equipment provider’s stock worth $3,315,000 after purchasing an additional 150 shares during the last quarter. 73.33% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CSCO has been the topic of a number of recent research reports. CICC Research upped their price target on shares of Cisco Systems from $84.00 to $96.00 and gave the company an “outperform” rating in a research note on Friday, February 13th. Bank of America upped their price objective on Cisco Systems from $85.00 to $95.00 and gave the company a “buy” rating in a research report on Thursday, November 13th. Morgan Stanley raised their target price on shares of Cisco Systems from $82.00 to $91.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 17th. KeyCorp lifted their price objective on Cisco Systems from $77.00 to $87.00 and gave the company an “overweight” rating in a report on Thursday, November 13th. Finally, Rosenblatt Securities restated a “buy” rating and set a $100.00 target price on shares of Cisco Systems in a report on Thursday, February 12th. Three research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $89.55.

Insider Activity at Cisco Systems

In other news, SVP Maria Victoria Wong sold 2,179 shares of the stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $77.74, for a total transaction of $169,395.46. Following the sale, the senior vice president directly owned 28,807 shares of the company’s stock, valued at $2,239,456.18. This represents a 7.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Kristina M. Johnson sold 13,481 shares of the stock in a transaction that occurred on Thursday, December 18th. The stock was sold at an average price of $77.13, for a total value of $1,039,789.53. Following the transaction, the director owned 61,630 shares in the company, valued at $4,753,521.90. This represents a 17.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 75,799 shares of company stock valued at $5,815,306 in the last 90 days. 0.01% of the stock is currently owned by corporate insiders.

Cisco Systems Stock Performance

CSCO stock traded up $0.44 during midday trading on Friday, reaching $78.18. The stock had a trading volume of 3,057,129 shares, compared to its average volume of 23,219,854. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.85 and a current ratio of 0.96. Cisco Systems, Inc. has a 52-week low of $52.11 and a 52-week high of $88.18. The stock has a market cap of $308.78 billion, a PE ratio of 27.45, a P/E/G ratio of 2.95 and a beta of 0.87. The firm has a fifty day simple moving average of $77.97 and a two-hundred day simple moving average of $74.38.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, February 11th. The network equipment provider reported $1.04 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.02. The company had revenue of $15.35 billion for the quarter, compared to the consensus estimate of $15.11 billion. Cisco Systems had a net margin of 19.22% and a return on equity of 27.88%. Cisco Systems’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.94 EPS. As a group, equities research analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 22nd. Stockholders of record on Thursday, April 2nd will be paid a $0.42 dividend. The ex-dividend date is Thursday, April 2nd. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.41. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.1%. Cisco Systems’s dividend payout ratio (DPR) is currently 57.54%.

Cisco Systems Company Profile

Cisco Systems, Inc is a global technology company that designs, manufactures and sells networking hardware, software and telecommunications equipment. Its core business focuses on enabling enterprise and service-provider networks through products such as routers, switches, network security appliances and wireless systems. Over time Cisco has broadened its portfolio to emphasize software-defined networking, cybersecurity, cloud infrastructure and edge computing solutions that help organizations build and manage modern IT environments.

In addition to hardware, Cisco offers a growing range of software platforms and subscription services for network management, security, analytics and collaboration.