Mid American Wealth Advisory Group Inc. Reduces Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Mid American Wealth Advisory Group Inc. trimmed its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 19.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 68,182 shares of the network equipment provider’s stock after selling 16,457 shares during the quarter. Cisco Systems comprises approximately 2.4% of Mid American Wealth Advisory Group Inc.’s portfolio, making the stock its 13th biggest position. Mid American Wealth Advisory Group Inc.’s holdings in Cisco Systems were worth $4,036,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Quarry LP raised its position in Cisco Systems by 222.4% in the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock valued at $31,000 after purchasing an additional 456 shares during the last quarter. West Financial Advisors LLC boosted its stake in shares of Cisco Systems by 116.6% during the third quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock worth $31,000 after buying an additional 309 shares during the period. Highline Wealth Partners LLC increased its position in Cisco Systems by 76.7% in the 4th quarter. Highline Wealth Partners LLC now owns 599 shares of the network equipment provider’s stock valued at $35,000 after acquiring an additional 260 shares during the period. RPg Family Wealth Advisory LLC purchased a new stake in Cisco Systems during the 3rd quarter valued at approximately $40,000. Finally, Capital Performance Advisors LLP acquired a new stake in Cisco Systems during the 3rd quarter worth approximately $51,000. Hedge funds and other institutional investors own 73.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on CSCO shares. Wells Fargo & Company increased their target price on Cisco Systems from $57.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 14th. Melius upgraded shares of 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. Bank of America increased their price target on shares of Cisco Systems from $60.00 to $72.00 and gave the company a “buy” rating in a report on Thursday, November 14th. Evercore ISI boosted their price objective on shares of Cisco Systems from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Friday, September 20th. Finally, Morgan Stanley lifted their price target on shares of Cisco Systems from $62.00 to $68.00 and gave the company an “overweight” rating in a research report on Tuesday, December 17th. Eight equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $61.28.

Insider Buying and Selling at Cisco Systems

In other news, EVP Thimaya K. Subaiya sold 21,230 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $57.07, for a total transaction of $1,211,596.10. Following the transaction, the executive vice president now owns 213,834 shares in the company, valued at approximately $12,203,506.38. This trade represents a 9.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Charles Robbins sold 171,744 shares of Cisco Systems stock in a transaction on Friday, November 15th. The shares were sold at an average price of $57.49, for a total value of $9,873,562.56. Following the completion of the transaction, the chief executive officer now directly owns 783,786 shares of the company’s stock, valued at $45,059,857.14. This represents a 17.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 353,522 shares of company stock valued at $20,349,721 in the last 90 days. 0.01% of the stock is currently owned by company insiders.

Cisco Systems Stock Performance

Shares of NASDAQ:CSCO traded down $0.02 during trading on Monday, reaching $58.72. The stock had a trading volume of 6,276,580 shares, compared to its average volume of 15,452,161. The company has a quick ratio of 0.80, a current ratio of 0.88 and a debt-to-equity ratio of 0.43. The stock has a fifty day simple moving average of $58.67 and a two-hundred day simple moving average of $53.18. The firm has a market capitalization of $233.87 billion, a price-to-earnings ratio of 25.20, a P/E/G ratio of 4.37 and a beta of 0.84. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $60.23.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 return on equity of 25.70% and a net margin of 17.73%. Cisco Systems’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.98 EPS. As a group, analysts anticipate that Cisco Systems, Inc. will post 2.97 earnings per share for the current fiscal 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 issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, January 3rd. This represents a $1.60 annualized dividend and a yield of 2.72%. Cisco Systems’s dividend payout ratio (DPR) is currently 68.67%.

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.