First Bank & Trust reduced its stake in Cisco Systems, Inc. by 34.4% during the first quarter, according to the company’s recent filing with the SEC. The institutional investor sold 6,867 shares of the network equipment vendor, bringing their total holdings to 13,072 shares worth $652,000 at the end of the quarter.
Other hedge funds like Valued Wealth Advisors LLC and Delos Wealth Advisors LLC have also made changes to their positions in Cisco Systems. Some have acquired new shares, while others have increased their stake in the company.
Cisco Systems’ stock performance has seen fluctuations, with the company opening at $47.51 on Friday. The company’s recent earnings report beat expectations, reporting earnings per share of $0.88 for the quarter. Analysts predict that Cisco Systems will post 3.14 EPS for the current year.
In addition to financial performance, Cisco Systems declared a quarterly dividend and executives like CEO Charles Robbins have sold shares of the company’s stock. Insiders have sold a significant amount of shares in recent transactions.
Analysts have set new price targets for Cisco Systems’ stock, with ratings ranging from sell to buy. The company’s profile highlights its focus on Internet Protocol-based networking and related products for the global market.
Investors can stay up to date with news and ratings for Cisco Systems through MarketBeat.com, which offers a daily email newsletter.
Overall, Cisco Systems remains a key player in the networking industry, with its stock performance and financial reports attracting attention from investors and analysts alike.
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