Mid American Wealth Advisory Group Inc. Sells 3,175 Shares of Cisco Systems, Inc. (NASDAQ:CSCO)

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

A number of other hedge funds have also bought and sold shares of the business. Bank of New York Mellon Corp grew its holdings in shares of Cisco Systems by 2.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 70,317,061 shares of the network equipment provider’s stock worth $3,340,764,000 after purchasing an additional 1,853,598 shares in the last quarter. Legal & General Group Plc grew its stake in Cisco Systems by 3.3% during the second quarter. Legal & General Group Plc now owns 47,593,944 shares of the network equipment provider’s stock worth $2,261,185,000 after buying an additional 1,530,468 shares in the last quarter. Wellington Management Group LLP increased its holdings in Cisco Systems by 7.6% in the 4th quarter. Wellington Management Group LLP now owns 47,195,836 shares of the network equipment provider’s stock valued at $2,384,334,000 after buying an additional 3,314,330 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Cisco Systems by 22.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 26,409,843 shares of the network equipment provider’s stock valued at $1,254,739,000 after buying an additional 4,843,146 shares in the last quarter. Finally, FIL Ltd lifted its holdings in shares of Cisco Systems by 47.1% during the 4th 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. 73.33% of the stock is owned by institutional investors.

Cisco Systems Stock Performance

CSCO stock opened at $52.62 on Thursday. The firm has a market cap of $212.00 billion, a PE ratio of 17.72, a price-to-earnings-growth ratio of 4.11 and a beta of 0.83. Cisco Systems, Inc. has a 1-year low of $44.50 and a 1-year high of $54.58. The stock has a 50-day moving average price of $49.38 and a 200-day moving average price of $48.22. The company has a current ratio of 0.91, a quick ratio of 0.83 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to the consensus estimate of $13.53 billion. During the same quarter in the previous year, the company earned $1.01 EPS. Cisco Systems’s quarterly revenue was down 10.3% compared to the same quarter last year. As a group, equities research analysts expect that Cisco Systems, Inc. will post 2.9 earnings per share for the current year.

Cisco Systems Dividend Announcement

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

Insider Buying and Selling at Cisco Systems

In related news, SVP Maria Victoria Wong sold 638 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $49.09, for a total value of $31,319.42. Following the transaction, the senior vice president now directly owns 46,017 shares in the company, valued at approximately $2,258,974.53. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, SVP Maria Victoria Wong sold 638 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $49.09, for a total value of $31,319.42. Following the sale, the senior vice president now owns 46,017 shares in the company, valued at approximately $2,258,974.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Thimaya K. Subaiya sold 8,270 shares of Cisco Systems stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $50.33, for a total value of $416,229.10. Following the transaction, the executive vice president now owns 135,544 shares of the company’s stock, valued at approximately $6,821,929.52. The disclosure for this sale can be found here. Over the last quarter, insiders sold 70,529 shares of company stock valued at $3,509,049. Company insiders own 0.02% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft boosted their price target on Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a report on Thursday, August 15th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cisco Systems in a research note on Thursday, August 15th. JPMorgan Chase & Co. increased their price target on Cisco Systems from $53.00 to $55.00 and gave the company a “hold” rating in a research note on Thursday, August 8th. Despite investors’ hopes for a rebound in Networking Equipment demand to boost Cisco’s fourth-quarter 2024 performance, the anticipation is tempered by limited indications of a significant recovery in demand. Jefferies Financial Group reduced their price objective on Cisco Systems from $56.00 to $53.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. Finally, Barclays cut their price target on Cisco Systems from $50.00 to $49.00 and set an “equal weight” rating on the stock in a research note on Thursday, August 15th. One research analyst has rated the stock with a sell rating, fourteen have issued 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, the stock currently has an average rating of “Hold” and an average target price of $55.00.

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.