Arvest Investments Inc. Sells 3,825 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Arvest Investments Inc. reduced its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 6.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 52,694 shares of the network equipment provider’s stock after selling 3,825 shares during the quarter. Arvest Investments Inc.’s holdings in Cisco Systems were worth $3,120,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in CSCO. Raymond James Financial Inc. bought a new stake in shares of Cisco Systems during the fourth quarter worth about $560,722,000. FMR LLC grew its holdings in shares of Cisco Systems by 10.1% during the third quarter. FMR LLC now owns 63,931,461 shares of the network equipment provider’s stock worth $3,402,432,000 after purchasing an additional 5,885,879 shares during the last quarter. Two Sigma Advisers LP grew its holdings in shares of Cisco Systems by 327.5% during the third quarter. Two Sigma Advisers LP now owns 6,819,000 shares of the network equipment provider’s stock worth $362,907,000 after purchasing an additional 5,223,800 shares during the last quarter. National Bank of Canada FI grew its holdings in shares of Cisco Systems by 79.6% during the third quarter. National Bank of Canada FI now owns 8,971,494 shares of the network equipment provider’s stock worth $477,463,000 after purchasing an additional 3,975,028 shares during the last quarter. Finally, State Street Corp grew its holdings in shares of Cisco Systems by 1.7% during the third quarter. State Street Corp now owns 193,489,477 shares of the network equipment provider’s stock worth $10,297,506,000 after purchasing an additional 3,241,682 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CSCO. Melius Research raised Cisco Systems from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 6th. UBS Group lifted their price objective on Cisco Systems from $62.00 to $70.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Barclays reaffirmed an “equal weight” rating on shares of Cisco Systems in a research note on Thursday, March 6th. Piper Sandler reaffirmed a “neutral” rating on shares of Cisco Systems in a research note on Thursday, March 6th. Finally, Citigroup reaffirmed an “overweight” rating on shares of Cisco Systems in a research note on Thursday, March 6th. Seven research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $66.63.

Cisco Systems Price Performance

Shares of NASDAQ:CSCO opened at $61.12 on Thursday. The company has a quick ratio of 0.79, a current ratio of 0.87 and a debt-to-equity ratio of 0.43. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $66.50. The stock’s 50 day moving average is $61.89 and its 200-day moving average is $57.97. The firm has a market capitalization of $243.15 billion, a price-to-earnings ratio of 26.69, a PEG ratio of 4.16 and a beta of 0.79.

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

Cisco Systems Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Investors of record on Thursday, April 3rd will be issued a dividend of $0.41 per share. The ex-dividend date is Thursday, April 3rd. This represents a $1.64 annualized dividend and a yield of 2.68%. This is an increase from Cisco Systems’s previous quarterly dividend of $0.40. Cisco Systems’s dividend payout ratio is 71.62%.

Cisco Systems declared that its Board of Directors has initiated a share repurchase plan on Wednesday, February 12th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the network equipment provider to buy up to 6% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In other Cisco Systems news, CEO Charles Robbins sold 31,983 shares of the company’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $64.41, for a total value of $2,060,025.03. Following the completion of the transaction, the chief executive officer now owns 736,120 shares in the company, valued at $47,413,489.20. This represents a 4.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Richard Scott Herren sold 19,929 shares of the company’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $64.41, for a total value of $1,283,626.89. Following the completion of the transaction, the chief financial officer now owns 335,605 shares of the company’s stock, valued at $21,616,318.05. This trade represents a 5.61 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 66,547 shares of company stock worth $4,275,553. 0.01% of the stock is owned by corporate insiders.

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.