Mid American Wealth Advisory Group Inc. Has $4.04 Million Stock Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Mid American Wealth Advisory Group Inc. reduced its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 19.4% during the fourth quarter, Holdings Channel reports. The firm owned 68,182 shares of the network equipment provider’s stock after selling 16,457 shares during the period. Cisco Systems makes up 2.4% of Mid American Wealth Advisory Group Inc.’s holdings, making the stock its 13th largest holding. Mid American Wealth Advisory Group Inc.’s holdings in Cisco Systems were worth $4,036,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of the business. CHICAGO TRUST Co NA grew its position in Cisco Systems by 10.2% during the fourth quarter. CHICAGO TRUST Co NA now owns 40,205 shares of the network equipment provider’s stock worth $2,380,000 after buying an additional 3,716 shares in the last quarter. City State Bank increased its position in shares of Cisco Systems by 12.2% during the 4th quarter. City State Bank now owns 4,365 shares of the network equipment provider’s stock valued at $258,000 after purchasing an additional 474 shares during the last quarter. Trust Co. of Toledo NA OH lifted its holdings in shares of Cisco Systems by 7.0% in the 4th quarter. Trust Co. of Toledo NA OH now owns 122,807 shares of the network equipment provider’s stock worth $7,270,000 after acquiring an additional 8,008 shares during the last quarter. Fiduciary Alliance LLC boosted its position in Cisco Systems by 85.3% during the fourth quarter. Fiduciary Alliance LLC now owns 20,434 shares of the network equipment provider’s stock valued at $1,210,000 after buying an additional 9,405 shares during the period. Finally, Winthrop Advisory Group LLC increased its holdings in shares of Cisco Systems by 5.9% in the fourth quarter. Winthrop Advisory Group LLC now owns 9,223 shares of the network equipment provider’s stock worth $546,000 after buying an additional 513 shares during the period. 73.33% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cisco Systems

In related news, EVP Thimaya K. Subaiya sold 3,042 shares of Cisco Systems stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $59.19, for a total value of $180,055.98. Following the sale, the executive vice president now owns 207,798 shares of the company’s stock, valued at approximately $12,299,563.62. This trade represents a 1.44 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Richard Scott Herren sold 86,351 shares of Cisco Systems stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $57.49, for a total value of $4,964,318.99. Following the completion of the sale, the chief financial officer now owns 365,314 shares in the company, valued at approximately $21,001,901.86. The trade was a 19.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 353,522 shares of company stock worth $20,349,721. 0.01% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have commented on CSCO. JPMorgan Chase & Co. raised Cisco Systems from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $55.00 to $66.00 in a research note on Monday, November 11th. Wells Fargo & Company increased their price target on shares of Cisco Systems from $57.00 to $60.00 and gave the company an “equal weight” rating in a research report on Thursday, November 14th. Citigroup upped their price objective on shares of Cisco Systems from $62.00 to $64.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Melius upgraded Cisco Systems from a “hold” rating to a “buy” rating and boosted their price target for the company from $66.00 to $73.00 in a report on Monday, January 6th. Finally, Piper Sandler upped their target price on Cisco Systems from $52.00 to $57.00 and gave the company a “neutral” rating in a report on Thursday, November 14th. Eight investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $61.28.

Cisco Systems Trading Down 0.0 %

Shares of NASDAQ CSCO traded down $0.02 during trading hours on Monday, hitting $58.72. 6,276,580 shares of the company traded hands, compared to its average volume of 15,452,161. The stock has a market capitalization of $233.87 billion, a price-to-earnings ratio of 25.20, a price-to-earnings-growth ratio of 4.37 and a beta of 0.84. The company’s 50 day moving average price is $58.67 and its 200 day moving average price is $53.18. Cisco Systems, Inc. has a 12 month low of $44.50 and a 12 month high of $60.23. The company has a current ratio of 0.88, a quick ratio of 0.80 and a debt-to-equity ratio of 0.43.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, November 13th. The network equipment provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.04. The firm had revenue of $13.84 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.98 earnings per share. On average, equities research 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 disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Stockholders 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 dividend yield of 2.72%. Cisco Systems’s dividend payout ratio (DPR) is currently 68.67%.

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.