In the first quarter, InTrack Investment Management Inc reduced its holdings in Cisco Systems, Inc. by 22.4%, selling 1,219 shares and owning a total of 4,218 shares worth $210,000. Various institutional investors and hedge funds, including Norges Bank and Charles Schwab Investment Management Inc., also modified their holdings in CSCO. Following recent research reports, Wall Street analysts have given mixed ratings to the company, with Bank of America upgrading Cisco from “neutral” to “buy.” SVP Maria Victoria Wong and EVP Deborah L. Stahlkopf sold shares of the company’s stock in May.
In the last quarter, insiders sold 41,106 shares of CSCO stock, totaling $1,908,923. The stock’s performance on NASDAQ, with a market capitalization of $190.48 billion, sits at an opening price of $47.28. Cisco Systems last reported quarterly results on May 15th, beating EPS estimates with revenue of $12.7 billion. The company expects to post EPS of $3.14 for the year. Cisco Systems also announced a quarterly dividend of $0.40 per share to be paid on July 24th, with a dividend yield of 3.38%. Cisco Systems designs, manufactures, and sells networking products worldwide, catering to various industries.
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