Cisco Systems, Inc. $CSCO Shares Sold by Mid American Wealth Advisory Group Inc.

Mid American Wealth Advisory Group Inc. trimmed its holdings in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 96.8% during the second quarter, HoldingsChannel reports. The institutional investor owned 1,736 shares of the network equipment provider’s stock after selling 52,250 shares during the quarter. Mid American Wealth Advisory Group Inc.’s holdings in Cisco Systems were worth $204,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Nilsine Partners LLC increased its position in shares of Cisco Systems by 42.4% in the second quarter. Nilsine Partners LLC now owns 83,161 shares of the network equipment provider’s stock worth $9,768,000 after acquiring an additional 24,778 shares in the last quarter. Saudi Central Bank boosted its position in Cisco Systems by 89.6% during the 2nd quarter. Saudi Central Bank now owns 276,493 shares of the network equipment provider’s stock worth $32,477,000 after purchasing an additional 130,654 shares during the period. Angeles Wealth Management LLC increased its holdings in Cisco Systems by 9.2% in the 2nd quarter. Angeles Wealth Management LLC now owns 32,235 shares of the network equipment provider’s stock valued at $3,786,000 after purchasing an additional 2,715 shares in the last quarter. Unique Wealth LLC raised its position in Cisco Systems by 9.6% in the second quarter. Unique Wealth LLC now owns 3,114 shares of the network equipment provider’s stock valued at $366,000 after purchasing an additional 274 shares during the period. Finally, Noble Wealth Partners LLC acquired a new position in shares of Cisco Systems during the second quarter worth about $561,000. Institutional investors and hedge funds own 73.33% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Morgan Stanley upped their target price on Cisco Systems from $130.00 to $135.00 and gave the stock an “overweight” rating in a research report on Thursday, August 13th. UBS Group boosted their price target on Cisco Systems from $132.00 to $138.00 and gave the stock a “buy” rating in a research report on Thursday, August 13th. Truist Financial upped their price target on Cisco Systems from $125.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, August 13th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Cisco Systems in a research report on Wednesday, August 26th. Finally, Citigroup lifted their price objective on shares of Cisco Systems from $90.00 to $112.00 and gave the company a “buy” rating in a research note on Thursday, May 14th. Two analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $129.68.

Cisco Systems Stock Up 0.5%

Shares of Cisco Systems stock opened at $109.20 on Friday. The business has a 50-day moving average of $114.26 and a 200-day moving average of $102.20. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.93 and a quick ratio of 0.79. The company has a market capitalization of $430.41 billion, a PE ratio of 32.69, a P/E/G ratio of 2.28 and a beta of 1.00. Cisco Systems, Inc. has a 1-year low of $66.13 and a 1-year high of $130.37.

Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, August 12th. The network equipment provider reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.17 by $0.05. Cisco Systems had a return on equity of 30.16% and a net margin of 20.95%.The business had revenue of $17.25 billion for the quarter, compared to analyst estimates of $16.84 billion. During the same period in the previous year, the company earned $0.99 earnings per share. The company’s revenue for the quarter was up 17.6% compared to the same quarter last year. Cisco Systems has set its FY 2027 guidance at 5.050-5.110 EPS and its Q1 2027 guidance at 1.320-1.340 EPS. As a group, equities analysts forecast that Cisco Systems, Inc. will post 4.43 EPS for the current fiscal year.

Cisco Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 21st. Shareholders of record on Friday, October 2nd will be issued a dividend of $0.42 per share. The ex-dividend date is Friday, October 2nd. This represents a $1.68 annualized dividend and a yield of 1.5%. Cisco Systems’s payout ratio is currently 50.30%.

Insider Buying and Selling

In other news, EVP Oliver Tuszik sold 2,760 shares of the stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $112.46, for a total transaction of $310,389.60. Following the completion of the transaction, the executive vice president directly owned 165,276 shares in the company, valued at approximately $18,586,938.96. This represents a 1.64% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Thimaya Subaiya sold 7,127 shares of the firm’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $119.91, for a total transaction of $854,598.57. Following the sale, the executive vice president directly owned 140,857 shares of the company’s stock, valued at $16,890,162.87. The trade was a 4.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 53,611 shares of company stock worth $6,066,680 over the last 90 days. 0.01% of the stock is currently owned by corporate insiders.

Cisco Systems Profile

Cisco Systems, Inc is a global technology company that designs, manufactures and sells networking hardware, software and telecommunications equipment. Its core business focuses on enabling enterprise and service-provider networks through products such as routers, switches, network security appliances and wireless systems. Over time Cisco has broadened its portfolio to emphasize software-defined networking, cybersecurity, cloud infrastructure and edge computing solutions that help organizations build and manage modern IT environments.

In addition to hardware, Cisco offers a growing range of software platforms and subscription services for network management, security, analytics and collaboration.