Arvest Investments Inc. Sells 4,108 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

Arvest Investments Inc. lessened its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 6.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 56,519 shares of the network equipment provider’s stock after selling 4,108 shares during the quarter. Arvest Investments Inc.’s holdings in Cisco Systems were worth $3,008,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Stockman Wealth Management Inc. boosted its stake in shares of Cisco Systems by 7.6% during the 3rd quarter. Stockman Wealth Management Inc. now owns 253,478 shares of the network equipment provider’s stock worth $13,490,000 after buying an additional 17,946 shares during the last quarter. Tyler Stone Wealth Management boosted its position in Cisco Systems by 88.8% during the third quarter. Tyler Stone Wealth Management now owns 5,435 shares of the network equipment provider’s stock valued at $289,000 after purchasing an additional 2,556 shares during the last quarter. Baker Avenue Asset Management LP increased its position in shares of Cisco Systems by 21.7% during the 3rd quarter. Baker Avenue Asset Management LP now owns 16,235 shares of the network equipment provider’s stock worth $864,000 after purchasing an additional 2,894 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its stake in shares of Cisco Systems by 2.5% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 64,055 shares of the network equipment provider’s stock worth $3,409,000 after purchasing an additional 1,582 shares in the last quarter. Finally, Riverstone Advisors LLC acquired a new stake in shares of Cisco Systems in the 3rd quarter valued at approximately $209,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on CSCO shares. Evercore ISI lifted their price objective on shares of Cisco Systems from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Friday, September 20th. Piper Sandler restated a “neutral” rating and issued a $52.00 price objective on shares of Cisco Systems in a research note on Thursday, August 15th. Tigress Financial boosted their target price on Cisco Systems from $76.00 to $78.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a research report on Thursday, August 15th. Finally, New Street Research upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $57.00 target price for the company in a research note on Thursday, August 15th. Thirteen research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $56.74.

Cisco Systems Price Performance

Shares of Cisco Systems stock traded down $0.02 during midday trading on Friday, hitting $58.06. 17,517,686 shares of the company traded hands, compared to its average volume of 16,469,526. The firm’s fifty day moving average price is $53.30 and its 200-day moving average price is $49.41. The stock has a market cap of $231.70 billion, a price-to-earnings ratio of 22.86, a PEG ratio of 4.79 and a beta of 0.83. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $58.30. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.83 and a current ratio of 0.91.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 EPS for the quarter, beating analysts’ consensus estimates of $0.85 by $0.02. The company had revenue of $13.64 billion during the quarter, compared to analysts’ expectations of $13.53 billion. Cisco Systems had a return on equity of 27.83% and a net margin of 19.18%. Cisco Systems’s revenue was down 10.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.01 EPS. As a group, sell-side analysts forecast that Cisco Systems, Inc. will post 2.89 earnings per share for the current year.

Cisco Systems Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 2nd were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date of this dividend was Wednesday, October 2nd. Cisco Systems’s payout ratio is 62.99%.

Insider Buying and Selling at Cisco Systems

In related news, CEO Charles Robbins sold 27,143 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $49.45, for a total value of $1,342,221.35. Following the sale, the chief executive officer now owns 683,403 shares of the company’s stock, valued at $33,794,278.35. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO Charles Robbins sold 27,143 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $49.45, for a total value of $1,342,221.35. Following the transaction, the chief executive officer now owns 683,403 shares in the company, valued at approximately $33,794,278.35. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Deborah L. Stahlkopf sold 7,462 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $49.41, for a total transaction of $368,697.42. Following the sale, the executive vice president now owns 165,580 shares of the company’s stock, valued at approximately $8,181,307.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 70,529 shares of company stock worth $3,509,049. 0.01% of the stock is currently owned by company insiders.

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.