Argent Capital Boosts Cisco Stake 2132 Percent

Argent Capital Management LLC significantly increased its stake in Cisco Systems, Inc. (NASDAQ: CSCO) during the third quarter, boosting its position by 2,132.9%. The fund now owns 91,750 shares of the network equipment provider, valued at $9,875,000 after purchasing an additional 87,641 shares.

Other large investors also made substantial moves in Cisco Systems. BlackRock Inc. acquired a new position valued at approximately $42,129,647,000 in the second quarter. State Street Corp increased its holdings by 7.0% during the same period, now owning 207,106,569 shares worth $25,278,492,000. Invesco Ltd. raised its stake by 11.6% in the fourth quarter, holding 59,836,782 shares worth $4,609,227,000. Auto Owners Insurance Co boosted its holdings by 8,718.3%, now owning 51,952,421 shares worth $400,190,000. Franklin Resources Inc. grew its position by 18.0% in the fourth quarter, holding 50,320,905 shares valued at $3,876,219,000.

Cisco Systems reported strong earnings for the quarter ending August 12th, with earnings per share (EPS) of $1.22, surpassing the consensus estimate of $1.17. The company's revenue was $17.25 billion, up 17.6% year-over-year. Cisco has set its FY 2027 guidance at $5.050-$5.110 EPS and its Q1 2027 guidance at $1.320-$1.340 EPS. The company also announced a quarterly dividend of $0.42, payable on October 21st to shareholders of record on October 2nd.

Insider transactions included EVP Oliver Tuszik selling 2,760 shares at $112.46 each, and Jeetendra I. Patel selling 7,170 shares at $111.57 each. Several research firms recently upgraded their ratings and price targets for Cisco Systems, with a consensus rating of "Moderate Buy" and an average target price of $128.52.