MidWestOne Financial Group Inc. Has $1.21 Million Stock Holdings in Cisco Systems, Inc. (NASDAQ:CSCO)

MidWestOne Financial Group Inc. cut its position in shares of Cisco Systems, Inc. (NASDAQ:CSCO) by 48.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,951 shares of the network equipment provider’s stock after selling 23,915 shares during the quarter. MidWestOne Financial Group Inc.’s holdings in Cisco Systems were worth $1,211,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Cedar Brook Financial Partners LLC boosted its stake in shares of Cisco Systems by 3.3% in the 2nd quarter. Cedar Brook Financial Partners LLC now owns 6,712 shares of the network equipment provider’s stock valued at $313,000 after purchasing an additional 216 shares in the last quarter. Ferris Capital LLC boosted its stake in shares of Cisco Systems by 2.3% in the 2nd quarter. Ferris Capital LLC now owns 10,113 shares of the network equipment provider’s stock valued at $472,000 after purchasing an additional 224 shares in the last quarter. Armbruster Capital Management Inc. boosted its stake in shares of Cisco Systems by 3.2% in the 2nd quarter. Armbruster Capital Management Inc. now owns 7,277 shares of the network equipment provider’s stock valued at $339,000 after purchasing an additional 227 shares in the last quarter. NEXT Financial Group Inc boosted its stake in shares of Cisco Systems by 0.5% in the 2nd quarter. NEXT Financial Group Inc now owns 49,129 shares of the network equipment provider’s stock valued at $2,291,000 after purchasing an additional 230 shares in the last quarter. Finally, Strategic Wealth Management Group LLC boosted its stake in shares of Cisco Systems by 2.8% in the 2nd quarter. Strategic Wealth Management Group LLC now owns 8,766 shares of the network equipment provider’s stock valued at $409,000 after purchasing an additional 235 shares in the last quarter. 71.28% of the stock is currently owned by institutional investors and hedge funds.

In related news, CFO Kelly A. Kramer sold 45,000 shares of the stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $42.01, for a total transaction of $1,890,450.00. Also, CAO Prat Bhatt sold 2,873 shares of the stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $42.11, for a total transaction of $120,982.03. Following the sale, the chief accounting officer now directly owns 82,006 shares in the company, valued at $3,453,272.66. The disclosure for this sale can be found here. Insiders have sold a total of 65,523 shares of company stock worth $2,770,212 over the last three months. 0.03% of the stock is currently owned by insiders.

CSCO has been the subject of a number of recent analyst reports. Morgan Stanley reiterated a “buy” rating and set a $54.00 price target on shares of Cisco Systems in a report on Thursday, August 13th. Oppenheimer initiated coverage on shares of Cisco Systems in a report on Thursday, May 28th. They set a “buy” rating and a $46.00 price target for the company. Wells Fargo & Company upped their price target on shares of Cisco Systems from $50.00 to $55.00 and gave the company an “overweight” rating in a report on Thursday, May 14th. Zacks Investment Research lowered shares of Cisco Systems from a “buy” rating to a “hold” rating and set a $50.00 price target for the company. in a report on Monday, August 10th. Finally, Bank of America upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and upped their price target for the company from $48.00 to $55.00 in a report on Tuesday, June 16th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and thirteen have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $49.39.

Shares of Cisco Systems stock traded up $0.31 during trading on Friday, hitting $39.88. The company’s stock had a trading volume of 21,847,965 shares, compared to its average volume of 26,037,297. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.67 and a current ratio of 1.72. The company has a fifty day simple moving average of $44.10 and a two-hundred day simple moving average of $43.28. The company has a market capitalization of $169.89 billion, a PE ratio of 15.16, a P/E/G ratio of 2.29 and a beta of 0.84. Cisco Systems, Inc. has a 52 week low of $32.40 and a 52 week high of $50.30.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, August 12th. The network equipment provider reported $0.80 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $0.06. Cisco Systems had a net margin of 22.75% and a return on equity of 34.75%. During the same period last year, the business posted $0.83 earnings per share. As a group, analysts predict that Cisco Systems, Inc. will post 2.8 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 21st. Investors of record on Friday, October 2nd will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 3.61%. The ex-dividend date of this dividend is Thursday, October 1st. Cisco Systems’s dividend payout ratio (DPR) is 49.32%.

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 worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.

See Also: Growth and Income Funds

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Institutional Ownership by Quarter for Cisco Systems (NASDAQ:CSCO)

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