Atlas Capital Advisors LLC significantly decreased its stake in Cisco Systems, Inc. during the first quarter, according to a recent filing with the Securities and Exchange Commission. The fund sold 13,000 shares, resulting in ownership of 6,058 shares valued at $302,000. Other large investors also made moves with CSCO shares, such as the Healthcare of Ontario Pension Plan Trust Fund increasing its position by 1,096.2% and owning over 2.9 million shares. The overall percentage of capital held by institutional investors currently stands at 73.33%.
Analysts have varied opinions on CSCO stock, with Needham & Company LLC rating it as “hold,” while Citigroup marked it as “neutral” with a $52.00 price target. Deutsche Bank Aktiengesellschaft raised its price target to $52.00, and Bank of America upgraded the stock to “buy” with a $60.00 price target. Overall, the consensus rating for Cisco Systems is “Hold.”
Insiders at Cisco Systems have been active, with SVP Maria Victoria Wong and EVP Deborah L. Stahlkopf both selling shares in June 2013. Over the last three months, insiders have sold over 41,000 shares worth almost $2 million.
Cisco Systems stock performance has been stable, with the share price opening at $47.45 and a market capitalization of $191.17 billion. The company reported $0.88 earnings per share in its last quarterly report and recently announced a quarterly dividend of $0.40 per share.
Cisco Systems, Inc. is a leading provider of Internet protocol-based networks and related products across various regions. Their product portfolio includes switching, routing, wireless, and computing solutions aimed at providing secure and reliable connectivity.
For more information on hedge fund activity and insider transactions related to Cisco Systems, Inc., visit HoldingsChannel.com for the latest updates. Subscribe to MarketBeat.com to receive daily news and analyst ratings on Cisco Systems and related companies via email.
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