Arvest Bank Trust Division Acquires Shares of 293,766 Cisco Systems, Inc. (NASDAQ:CSCO)

Arvest Bank Trust Division acquired a new stake in Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 293,766 shares of the network equipment provider's stock, valued at approximately $15,634,000.

A number of other hedge funds have also recently modified their holdings of the stock. State Street Corp boosted its position in Cisco Systems by 1.7% in the 3rd 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 in the last quarter. Geode Capital Management LLC lifted its stake in shares of Cisco Systems by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 95,630,469 shares of the network equipment provider's stock valued at $5,075,320,000 after purchasing an additional 1,262,017 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Cisco Systems by 2.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 82,720,255 shares of the network equipment provider's stock worth $4,402,239,000 after buying an additional 1,677,383 shares in the last quarter. Bank of New York Mellon Corp grew its position in Cisco Systems by 2.7% during the second quarter. Bank of New York Mellon Corp now owns 70,317,061 shares of the network equipment provider's stock valued at $3,340,764,000 after buying an additional 1,853,598 shares during the period. Finally, FMR LLC increased its holdings in Cisco Systems by 10.1% in the third quarter. FMR LLC now owns 63,931,461 shares of the network equipment provider's stock valued at $3,402,432,000 after buying an additional 5,885,879 shares in the last quarter. Hedge funds and other institutional investors own 73.33% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Citigroup increased their target price on shares of Cisco Systems from $62.00 to $64.00 and gave the stock a "buy" rating in a research note on Thursday, November 14th. Wells Fargo & Company increased their price target on Cisco Systems from $57.00 to $60.00 and gave the stock an "equal weight" rating in a research report on Thursday, November 14th. Bank of America boosted their price objective on Cisco Systems from $60.00 to $72.00 and gave the company a "buy" rating in a research report on Thursday, November 14th. New Street Research upgraded Cisco Systems from a "neutral" rating to a "buy" rating and set a $57.00 target price on the stock in a research report on Thursday, August 15th. Finally, Hsbc Global Res raised shares of Cisco Systems to a "strong-buy" rating in a research note on Friday, August 16th. Ten research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Cisco Systems has a consensus rating of "Moderate Buy" and a consensus price target of $59.94.

Insider Activity at Cisco Systems

In other Cisco Systems news, Director Kristina M. Johnson sold 7,500 shares of the stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $59.87, for a total value of $449,025.00. Following the sale, the director now owns 65,915 shares of the company's stock, valued at $3,946,331.05. This trade represents a 10.22 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Charles Robbins sold 171,744 shares of Cisco Systems stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $57.49, for a total transaction of $9,873,562.56. Following the completion of the transaction, the chief executive officer now owns 783,786 shares of the company's stock, valued at $45,059,857.14. This represents a 17.97 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 349,894 shares of company stock worth $20,135,273. Insiders own 0.01% of the company's stock.

Cisco Systems Trading Up 0.4 %

NASDAQ CSCO traded up $0.26 on Thursday, reaching $58.85. 17,649,973 shares of the company were exchanged, compared to its average volume of 19,094,416. Cisco Systems, Inc. has a fifty-two week low of $44.50 and a fifty-two week high of $60.23. The stock has a market capitalization of $234.39 billion, a P/E ratio of 25.15, a price-to-earnings-growth ratio of 4.39 and a beta of 0.85. The business's fifty day moving average price is $56.89 and its 200 day moving average price is $51.19. The company has a current ratio of 0.88, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last posted its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.04. The business had revenue of $13.84 billion during the quarter, compared to analysts' expectations of $13.78 billion. Cisco Systems had a net margin of 17.73% and a return on equity of 25.70%. The business's revenue for the quarter was down 5.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.98 EPS. Analysts forecast that Cisco Systems, Inc. will post 2.97 earnings per share for the current year.

Cisco Systems Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.72%. The ex-dividend date of this dividend is Friday, January 3rd. Cisco Systems's dividend payout ratio (DPR) is presently 68.67%.

Cisco Systems 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.