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

Mid American Wealth Advisory Group Inc. decreased its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 3.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 84,639 shares of the network equipment provider’s stock after selling 3,175 shares during the period. Cisco Systems accounts for 2.8% of Mid American Wealth Advisory Group Inc.’s investment portfolio, making the stock its 13th biggest holding. Mid American Wealth Advisory Group Inc.’s holdings in Cisco Systems were worth $4,504,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Davis Capital Management raised its stake in shares of Cisco Systems by 3.3% during the 3rd quarter. Davis Capital Management now owns 34,072 shares of the network equipment provider’s stock worth $1,813,000 after purchasing an additional 1,089 shares during the period. Centaurus Financial Inc. increased its holdings in Cisco Systems by 98.6% during the second quarter. Centaurus Financial Inc. now owns 34,247 shares of the network equipment provider’s stock worth $1,627,000 after buying an additional 17,000 shares during the last quarter. Clifford Capital Partners LLC increased its holdings in Cisco Systems by 21.4% during the second quarter. Clifford Capital Partners LLC now owns 245,953 shares of the network equipment provider’s stock worth $11,685,000 after buying an additional 43,311 shares during the last quarter. Verity & Verity LLC raised its position in Cisco Systems by 5.1% in the second quarter. Verity & Verity LLC now owns 328,666 shares of the network equipment provider’s stock worth $15,615,000 after acquiring an additional 15,848 shares during the period. Finally, Newbridge Financial Services Group Inc. grew its position in shares of Cisco Systems by 25.8% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 6,617 shares of the network equipment provider’s stock valued at $314,000 after acquiring an additional 1,358 shares during the period. Institutional investors own 73.33% of the company’s stock.

Cisco Systems Stock Performance

NASDAQ:CSCO opened at $52.62 on Thursday. Cisco Systems, Inc. has a twelve month low of $44.50 and a twelve month high of $54.58. The company has a quick ratio of 0.83, a current ratio of 0.91 and a debt-to-equity ratio of 0.43. The stock has a market cap of $212.00 billion, a P/E ratio of 17.72, a PEG ratio of 4.11 and a beta of 0.83. The business’s 50-day moving average price is $49.38 and its two-hundred day moving average price is $48.22.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. Cisco Systems had a net margin of 19.18% and a return on equity of 27.83%. The company had revenue of $13.64 billion during the quarter, compared to the consensus estimate of $13.53 billion. During the same period in the previous year, the firm posted $1.01 EPS. The firm’s revenue was down 10.3% compared to the same quarter last year. As a group, equities analysts predict that Cisco Systems, Inc. will post 2.9 EPS for the current fiscal year.

Cisco Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Investors of record on Wednesday, October 2nd will be issued a dividend of $0.40 per share. The ex-dividend date is Wednesday, October 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.04%. Cisco Systems’s dividend payout ratio is 53.87%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on CSCO shares. Piper Sandler reaffirmed a “neutral” rating and issued a $52.00 price target on shares of Cisco Systems in a report on Thursday, August 15th. Hsbc Global Res raised Cisco Systems to a “strong-buy” rating in a research report on Friday, August 16th. Barclays decreased their price objective on Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating for the company in a report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Cisco Systems from $52.00 to $53.00 and gave the company a “hold” rating in a report on Thursday, August 15th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Cisco Systems in a research note on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Cisco Systems has a consensus rating of “Hold” and an average price target of $55.00.

Insiders Place Their Bets

In other news, SVP Maria Victoria Wong sold 638 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $49.09, for a total value of $31,319.42. Following the completion of the sale, the senior vice president now owns 46,017 shares of the company’s stock, valued at approximately $2,258,974.53. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 7,462 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $49.41, for a total value of $368,697.42. Following the completion of the transaction, the executive vice president now directly owns 165,580 shares in the company, valued at approximately $8,181,307.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Maria Victoria Wong sold 638 shares of Cisco Systems stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $49.09, for a total transaction of $31,319.42. Following the sale, the senior vice president now directly owns 46,017 shares in the company, valued at approximately $2,258,974.53. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 70,529 shares of company stock valued at $3,509,049. 0.02% of the stock is currently owned by corporate insiders.

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.