Advisor Resource Council significantly reduced its stake in Cisco Systems, Inc. during the first quarter, with the institutional investor selling 8,701 shares and now owning 6,864 shares of the network equipment vendor. Other hedge funds and institutional investors have also adjusted their holdings in the company, such as Valued Wealth Advisors LLC, Delos Wealth Advisors LLC, DiNuzzo Private Wealth Inc., Morton Brown Family Wealth LLC, and Bourgeon Capital Management LLC.
In terms of Cisco Systems’ stock performance, the company’s shares opened at $47.09 on Friday, with a 52-week low of $44.95 and a high of $58.19. The company reported strong earnings of $0.88 per share for the quarter, surpassing analysts’ estimates. Cisco Systems also announced a quarterly dividend, offering investors $0.40 per share. Insider trading activities have been observed, with CEO Charles Robbins and EVP Deborah L. Stahlkopf selling shares recently.
Analysts have varying views on Cisco Systems, with some firms raising price targets and providing ratings from “equal weight” to “outperform” and “neutral.” One firm even downgraded the stock from a “buy” to a “hold” rating. Overall, the stock has an average rating of “hold” and a consensus price target of $56.47.
Cisco Systems, Inc. is known for designing, manufacturing, and selling Internet Protocol-based networking products to various industries globally. The company offers a wide range of products including switching, routing, wireless, and computing portfolios that cater to different networking needs.
For further information on Cisco Systems and its holdings, interested individuals can visit HoldingsChannel.com for the latest 13F filings and insider transactions related to the company. Moreover, individuals can subscribe to receive daily news and ratings updates on Cisco Systems through MarketBeat.com’s free daily email newsletter.
Article Source
https://www.defenseworld.net/2024/07/05/advisor-resource-council-sells-8701-shares-of-cisco-systems-inc-nasdaqcsco.html
