Mid American Wealth Advisory Group Inc. Has $4.49 Million Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

Mid American Wealth Advisory Group Inc. boosted its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 8.2% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 90,000 shares of the network equipment provider’s stock after buying an additional 6,839 shares during the period. Cisco Systems comprises about 3.0% of Mid American Wealth Advisory Group Inc.’s portfolio, making the stock its 13th biggest holding. Mid American Wealth Advisory Group Inc.’s holdings in Cisco Systems were worth $4,492,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Norges Bank acquired a new position in Cisco Systems during the fourth quarter valued at approximately $2,528,939,000. Charles Schwab Investment Management Inc. grew its stake in shares of Cisco Systems by 9.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 73,439,747 shares of the network equipment provider’s stock worth $3,672,445,000 after acquiring an additional 6,345,954 shares during the last quarter. FIL Ltd increased its position in Cisco Systems by 47.1% during the fourth quarter. FIL Ltd now owns 18,922,422 shares of the network equipment provider’s stock worth $955,961,000 after acquiring an additional 6,054,748 shares during the period. Dimensional Fund Advisors LP increased its position in Cisco Systems by 29.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 17,727,214 shares of the network equipment provider’s stock worth $895,576,000 after acquiring an additional 3,989,543 shares during the period. Finally, California Public Employees Retirement System raised its stake in Cisco Systems by 25.0% during the 4th quarter. California Public Employees Retirement System now owns 18,750,237 shares of the network equipment provider’s stock valued at $947,262,000 after purchasing an additional 3,753,165 shares during the last quarter. 73.33% of the stock is currently owned by institutional investors.

Cisco Systems Price Performance

Cisco Systems stock opened at $45.97 on Thursday. Cisco Systems, Inc. has a 52 week low of $44.95 and a 52 week high of $58.19. The firm has a market cap of $185.20 billion, a P/E ratio of 15.48, a P/E/G ratio of 2.66 and a beta of 0.85. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.82 and a current ratio of 0.89. The business’s fifty day moving average is $47.22 and its two-hundred day moving average is $48.85.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, May 15th. The network equipment provider reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.18. Cisco Systems had a net margin of 21.88% and a return on equity of 30.82%. The firm had revenue of $12.70 billion for the quarter, compared to analyst estimates of $12.53 billion. During the same quarter in the prior year, the firm earned $0.88 EPS. The company’s revenue was down 12.8% on a year-over-year basis. Equities research analysts forecast that Cisco Systems, Inc. will post 3.14 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 24th. Shareholders of record on Friday, July 5th will be given a $0.40 dividend. The ex-dividend date of this dividend is Friday, July 5th. This represents a $1.60 dividend on an annualized basis and a yield of 3.48%. Cisco Systems’s payout ratio is 53.87%.

Insider Activity

In related news, SVP Maria Victoria Wong sold 762 shares of the firm’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $45.42, for a total value of $34,610.04. Following the transaction, the senior vice president now owns 51,788 shares in the company, valued at $2,352,210.96. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Cisco Systems news, SVP Maria Victoria Wong sold 762 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $45.42, for a total transaction of $34,610.04. Following the transaction, the senior vice president now directly owns 51,788 shares in the company, valued at approximately $2,352,210.96. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Deborah L. Stahlkopf sold 8,016 shares of Cisco Systems stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $48.24, for a total transaction of $386,691.84. Following the sale, the executive vice president now owns 180,705 shares of the company’s stock, valued at approximately $8,717,209.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 41,106 shares of company stock valued at $1,908,923. Company insiders own 0.02% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Morgan Stanley started coverage on Cisco Systems in a research report on Tuesday, April 9th. They set an “overweight” rating and a $58.00 target price on the stock. StockNews.com lowered Cisco Systems from a “buy” rating to a “hold” rating in a report on Thursday, May 23rd. Citigroup initiated coverage on Cisco Systems in a research note on Friday, April 12th. They issued a “neutral” rating and a $52.00 target price for the company. JPMorgan Chase & Co. initiated coverage on shares of Cisco Systems in a research note on Monday, April 22nd. They set a “neutral” rating and a $53.00 price target on the stock. Finally, BNP Paribas upgraded shares of Cisco Systems from an “underperform” rating to a “neutral” rating and set a $50.00 price objective for the company in a research note on Monday, May 13th. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $56.47.

About Cisco Systems

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.