Sovereign Financial Group Inc. increased its stake in Cisco Systems, Inc. by 16.5% in the first quarter, owning 10,966 shares worth $547,000. Other hedge funds, such as Mcintyre Freedman & Flynn Investment Advisers, Hyman Charles D, and Madrona Financial Services LLC, also added to their holdings in Cisco Systems, with Mcintyre Freedman & Flynn owning 59,756 shares valued at $3,019,000. Wall Street analysts have mixed opinions on Cisco Systems, with ratings ranging from “buy” to “hold.” The company’s stock price rose by 1.3%, with a 50-day moving average of $47.09. Cisco Systems recently posted earnings of $0.88 per share, beating analyst estimates. Additionally, the company announced a quarterly dividend of $0.40 per share, showcasing a yield of 3.37%. Insider activity included the sale of shares by senior vice president Maria Victoria Wong and CEO Charles Robbins. Cisco Systems, Inc. designs, manufactures, and sells Internet Protocol-based networking products across various regions worldwide.
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