Midwest Trust Co Sells 29,418 Shares of Cisco Systems, Inc. $CSCO

Key Points

• Midwest Trust Co trimmed its Cisco stake by 2.7% in the fourth quarter, selling 29,418 shares but still holding more than 1.05 million shares valued at about $81.5 million.
• Other institutions largely remained bullish on Cisco, with firms like Vanguard, Invesco, and Northern Trust increasing positions; overall, institutional investors own 73.33% of the stock.
• Cisco has seen mixed signals from insiders and analysts: executives recently sold shares, while analysts still rate the stock a Moderate Buy on average with a $90.29 target price, and the stock was trading near its 12-month high after topping earnings expectations and raising its quarterly dividend.

Midwest Trust Co reduced its stake in shares of Cisco Systems, Inc. (NASDAQ:CSCO - Free Report) by 2.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,058,439 shares of the network equipment provider's stock after selling 29,418 shares during the period. Cisco Systems accounts for approximately 1.0% of Midwest Trust Co's portfolio, making the stock its 24th biggest holding. Midwest Trust Co's holdings in Cisco Systems were worth $81,532,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in Cisco Systems by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 398,943,293 shares of the network equipment provider's stock worth $30,730,602,000 after acquiring an additional 4,049,893 shares during the last quarter. Invesco Ltd. boosted its holdings in Cisco Systems by 10.5% during the third quarter. Invesco Ltd. now owns 53,612,720 shares of the network equipment provider's stock valued at $3,668,182,000 after acquiring an additional 5,081,469 shares during the period. Northern Trust Corp grew its position in shares of Cisco Systems by 3.5% in the third quarter. Northern Trust Corp now owns 48,498,612 shares of the network equipment provider's stock valued at $3,318,275,000 after purchasing an additional 1,631,703 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of Cisco Systems by 4.4% in the third quarter. Franklin Resources Inc. now owns 42,641,483 shares of the network equipment provider's stock worth $2,917,530,000 after purchasing an additional 1,804,625 shares during the period. Finally, Legal & General Group Plc increased its stake in shares of Cisco Systems by 7.2% in the third quarter. Legal & General Group Plc now owns 37,674,954 shares of the network equipment provider's stock worth $2,577,720,000 after purchasing an additional 2,535,716 shares during the period. Institutional investors and hedge funds own 73.33% of the company's stock.

Insider Activity

In other Cisco Systems news, SVP Maria Victoria Wong sold 551 shares of the business's stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $77.54, for a total value of $42,724.54. Following the sale, the senior vice president owned 27,957 shares of the company's stock, valued at $2,167,785.78. The trade was a 1.93% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Oliver Tuszik sold 3,132 shares of the stock in a transaction on Wednesday, March 18th. The shares were sold at an average price of $79.74, for a total transaction of $249,745.68. Following the completion of the transaction, the executive vice president owned 188,613 shares of the company's stock, valued at approximately $15,040,000.62. This represents a 1.63% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 46,431 shares of company stock valued at $3,574,820. 0.01% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts recently weighed in on the company. JPMorgan Chase & Co. increased their target price on Cisco Systems from $95.00 to $96.00 and gave the company an "overweight" rating in a research note on Thursday, April 16th. Rosenblatt Securities reiterated a "buy" rating and set a $100.00 price target on shares of Cisco Systems in a report on Thursday, February 12th. Wall Street Zen cut Cisco Systems from a "buy" rating to a "hold" rating in a research report on Saturday, March 14th. DZ Bank upgraded shares of Cisco Systems to a "strong-buy" rating in a research note on Friday, February 13th. Finally, Erste Group Bank cut shares of Cisco Systems from a "buy" rating to a "hold" rating in a research note on Wednesday, February 18th. Three analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Cisco Systems presently has an average rating of "Moderate Buy" and an average target price of $90.29.

Trending Headlines about Cisco Systems

Here are the key news stories impacting Cisco Systems this week:

• Positive Sentiment: Cisco is drawing heavier investor attention ahead of earnings, which can support trading volume and sentiment as traders position for a potential report-driven move. Cisco Systems, Inc. (CSCO) Is a Trending Stock: Facts to Know Before Betting on It
• Positive Sentiment: Analysts are continuing to frame Cisco’s investment case around its next quarterly results, with some views slightly improving fair value estimates, suggesting lingering confidence in the company’s fundamentals. How The Cisco Systems (CSCO) Investment Story Is Shifting As Analyst Views Diverge
• Neutral Sentiment: Cisco is set to participate in multiple upcoming financial-community events in May and June, which keeps management visible to investors but does not directly change the fundamentals. Cisco to Participate in May & June Events with the Financial Community
• Neutral Sentiment: Wall Street estimates for Cisco’s upcoming quarter are being closely dissected, but this is mainly an expectations check ahead of earnings rather than a new business catalyst. Unlocking Q3 Potential of Cisco (CSCO): Exploring Wall Street Estimates for Key Metrics
• Negative Sentiment: Recent coverage noted Cisco shares underperformed the broader market and dropped in the latest session, showing some near-term pressure before the company’s next earnings catalyst. Cisco Systems (CSCO) Stock Drops Despite Market Gains: Important Facts to Note

Cisco Systems Trading Up 4.8%

Shares of CSCO opened at $96.57 on Friday. The stock's 50-day moving average price is $82.32 and its 200 day moving average price is $78.56. The company has a quick ratio of 0.85, a current ratio of 0.96 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $381.44 billion, a price-to-earnings ratio of 33.88, a P/E/G ratio of 3.62 and a beta of 0.92. Cisco Systems, Inc. has a 12-month low of $59.44 and a 12-month high of $97.02.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last announced its quarterly earnings data on Wednesday, February 11th. The network equipment provider reported $1.04 EPS for the quarter, topping analysts' consensus estimates of $1.02 by $0.02. The company had revenue of $15.35 billion during the quarter, compared to the consensus estimate of $15.11 billion. Cisco Systems had a return on equity of 27.88% and a net margin of 19.22%.The company's quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter last year, the company earned $0.94 EPS. As a group, research analysts predict that Cisco Systems, Inc. will post 3.42 earnings per share for the current year.

Cisco Systems Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 22nd. Shareholders of record on Thursday, April 2nd were paid a dividend of $0.42 per share. This is an increase from Cisco Systems's previous quarterly dividend of $0.41. This represents a $1.68 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date was Thursday, April 2nd. Cisco Systems's dividend payout ratio is presently 58.95%.

About Cisco Systems

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.

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