Arvest Bank Trust Division Trims Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Arvest Bank Trust Division decreased its holdings in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 2.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 287,655 shares of the network equipment provider's stock after selling 6,111 shares during the quarter. Arvest Bank Trust Division's holdings in Cisco Systems were worth $17,029,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in Cisco Systems in the 4th quarter worth $3,297,905,000. FMR LLC boosted its stake in shares of Cisco Systems by 20.8% in the fourth quarter. FMR LLC now owns 77,216,513 shares of the network equipment provider's stock worth $4,571,218,000 after acquiring an additional 13,285,052 shares during the period. Raymond James Financial Inc. bought a new stake in Cisco Systems during the 4th quarter valued at approximately $560,722,000. Marshall Wace LLP lifted its holdings in Cisco Systems by 143.2% in the 4th quarter. Marshall Wace LLP now owns 4,986,627 shares of the network equipment provider's stock worth $295,208,000 after purchasing an additional 2,936,567 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its stake in Cisco Systems by 50.3% in the 4th quarter. Alliancebernstein L.P. now owns 6,627,956 shares of the network equipment provider's stock worth $392,375,000 after purchasing an additional 2,219,311 shares during the period. 73.33% of the stock is currently owned by institutional investors.

Insider Transactions at Cisco Systems

In other Cisco Systems news, CEO Charles Robbins sold 31,983 shares of the company's stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $64.41, for a total transaction of $2,060,025.03. Following the sale, 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 this link. Also, CFO Richard Scott Herren sold 19,929 shares of the business's stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $64.41, for a total value of $1,283,626.89. Following the transaction, the chief financial officer now directly owns 335,605 shares of the company's stock, valued at approximately $21,616,318.05. This represents a 5.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 66,547 shares of company stock valued at $4,275,553. 0.01% of the stock is currently owned by company insiders.

Cisco Systems Trading Down 0.1 %

Cisco Systems stock traded down $0.04 during mid-day trading on Friday, hitting $55.73. The company's stock had a trading volume of 15,874,222 shares, compared to its average volume of 20,149,900. Cisco Systems, Inc. has a 1 year low of $44.50 and a 1 year high of $66.50. The stock's fifty day moving average is $60.69 and its two-hundred day moving average is $59.08. The firm has a market capitalization of $221.69 billion, a PE ratio of 24.33, a price-to-earnings-growth ratio of 4.16 and a beta of 0.86. The company has a current ratio of 0.87, a quick ratio of 0.79 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The network equipment provider reported $0.77 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%. On average, analysts anticipate that Cisco Systems, Inc. will post 3.04 EPS for the current year.

Cisco Systems announced that its Board of Directors has authorized a stock repurchase program on Wednesday, February 12th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the network equipment provider to buy up to 6% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's management believes its shares are undervalued.

Cisco Systems Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Thursday, April 3rd will be given a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 2.94%. The ex-dividend date is Thursday, April 3rd. This is a boost from Cisco Systems's previous quarterly dividend of $0.40. Cisco Systems's dividend payout ratio (DPR) is currently 71.62%.

Analyst Ratings Changes

A number of equities research analysts recently commented on CSCO shares. Melius upgraded Cisco Systems from a "hold" rating to a "buy" rating and boosted their target price for the stock from $66.00 to $73.00 in a research report on Monday, January 6th. DZ Bank upgraded Cisco Systems from a "hold" rating to a "buy" rating in a research note on Tuesday, February 18th. Wells Fargo & Company reissued an "equal weight" rating on shares of Cisco Systems in a research report on Thursday, March 6th. BNP Paribas upgraded Cisco Systems from a "neutral" rating to an "outperform" rating and set a $72.00 price objective for the company in a report on Tuesday, January 28th. Finally, StockNews.com cut Cisco Systems from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, March 5th. Seven 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 company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $65.58.

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.