Tocqueville Asset Management L.P. Cuts Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Tocqueville Asset Management L.P. trimmed its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 0.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 580,698 shares of the network equipment provider’s stock after selling 234 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in Cisco Systems were worth $34,377,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of CSCO. FPC Investment Advisory Inc. acquired a new stake in Cisco Systems in the 4th quarter worth approximately $26,000. Campbell Capital Management Inc. purchased a new position in shares of Cisco Systems in the fourth quarter worth about $31,000. Highline Wealth Partners LLC lifted its holdings in shares of 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. Synergy Investment Management LLC purchased a new stake in Cisco Systems in the fourth quarter valued at approximately $36,000. Finally, RPg Family Wealth Advisory LLC purchased a new position in Cisco Systems during the 3rd quarter worth approximately $40,000. 73.33% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Cisco Systems

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

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CSCO. The Goldman Sachs Group increased their price objective on shares of Cisco Systems from $56.00 to $63.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. JPMorgan Chase & Co. increased their price target on Cisco Systems from $69.00 to $73.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Piper Sandler reissued a “neutral” rating on shares of Cisco Systems in a report on Thursday, March 6th. BNP Paribas raised Cisco Systems from a “neutral” rating to an “outperform” rating and set a $72.00 target price on the stock in a report on Tuesday, January 28th. Finally, Barclays reissued an “equal weight” rating on shares of Cisco Systems in a report on Thursday, March 6th. Seven investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $66.63.

Cisco Systems Stock Performance

Shares of NASDAQ:CSCO opened at $60.89 on Tuesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.87 and a quick ratio of 0.79. 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 $242.24 billion, a PE ratio of 26.59, a P/E/G ratio of 4.16 and a beta of 0.79. The business’s 50 day moving average price is $61.83 and its 200-day moving average price is $57.88.

Cisco Systems (NASDAQ:CSCO) last released 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%. As a group, equities research analysts expect that Cisco Systems, Inc. will post 3.04 earnings per share for the current fiscal year.

Cisco Systems announced that its board has approved a stock buyback plan 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 reacquire up to 6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its shares are undervalued.

Cisco Systems Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Thursday, April 3rd will be paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis 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 dividend payout ratio (DPR) is 71.62%.

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.