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

Tocqueville Asset Management L.P. reduced its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 19.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 349,667 shares of the network equipment provider’s stock after selling 84,264 shares during the period. Tocqueville Asset Management L.P.’s holdings in Cisco Systems were worth $23,924,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bare Financial Services Inc grew its holdings in shares of Cisco Systems by 531.0% in the second quarter. Bare Financial Services Inc now owns 366 shares of the network equipment provider’s stock worth $25,000 after purchasing an additional 308 shares during the last quarter. Marquette Asset Management LLC bought a new stake in Cisco Systems during the 3rd quarter valued at $25,000. Lowe Wealth Advisors LLC boosted its position in Cisco Systems by 96.2% during the 3rd quarter. Lowe Wealth Advisors LLC now owns 408 shares of the network equipment provider’s stock valued at $28,000 after buying an additional 200 shares during the period. Cedar Mountain Advisors LLC boosted its position in Cisco Systems by 115.7% during the 3rd quarter. Cedar Mountain Advisors LLC now owns 468 shares of the network equipment provider’s stock valued at $32,000 after buying an additional 251 shares during the period. Finally, Kilter Group LLC bought a new stake in Cisco Systems in the 2nd quarter worth $44,000. Institutional investors own 73.33% of the company’s stock.

Analyst Ratings Changes

CSCO has been the topic of a number of analyst reports. Wall Street Zen upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating in a research report on Saturday, February 28th. President Capital cut their target price on Cisco Systems from $90.00 to $88.00 in a research note on Wednesday, December 24th. Erste Group Bank downgraded Cisco Systems from a “buy” rating to a “hold” rating in a report on Wednesday, February 18th. Citic Securities upped their price target on Cisco Systems from $75.00 to $90.00 in a research report on Monday, November 17th. Finally, CICC Research increased their price objective on Cisco Systems from $84.00 to $96.00 and gave the stock an “outperform” rating in a report on Friday, February 13th. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, Cisco Systems currently has an average rating of “Moderate Buy” and a consensus target price of $89.55.

Insiders Place Their Bets

In other Cisco Systems news, SVP Maria Victoria Wong sold 2,179 shares of the stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $77.74, for a total value of $169,395.46. Following the completion of the transaction, the senior vice president owned 28,807 shares in the company, valued at approximately $2,239,456.18. This represents a 7.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jeetendra I. Patel sold 11,248 shares of the stock in a transaction dated Friday, February 13th. The stock was sold at an average price of $76.00, for a total transaction of $854,848.00. Following the completion of the transaction, the insider owned 262,776 shares of the company’s stock, valued at approximately $19,970,976. The trade was a 4.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 75,799 shares of company stock valued at $5,815,306 in the last 90 days. Corporate insiders own 0.01% of the company’s stock.

Cisco Systems Trading Up 0.6%

Shares of CSCO traded up $0.44 during trading hours on Friday, reaching $78.18. 3,057,129 shares of the company traded hands, compared to its average volume of 23,219,854. Cisco Systems, Inc. has a 12 month low of $52.11 and a 12 month high of $88.18. The company has a quick ratio of 0.85, a current ratio of 0.96 and a debt-to-equity ratio of 0.45. The company’s fifty day moving average price is $77.97 and its two-hundred day moving average price is $74.38. The company has a market capitalization of $308.78 billion, a price-to-earnings ratio of 27.45, a price-to-earnings-growth ratio of 2.95 and a beta of 0.87.

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

Cisco Systems Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 22nd. Stockholders of record on Thursday, April 2nd will be given a $0.42 dividend. The ex-dividend date of this dividend is Thursday, April 2nd. This represents a $1.68 annualized dividend and a dividend yield of 2.1%. This is an increase from Cisco Systems’s previous quarterly dividend of $0.41. Cisco Systems’s dividend payout ratio 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.