Chase Investment Counsel Buys Cisco Systems for $1.22 Million
Cisco Systems, Inc., a network equipment provider, has seen significant investment from various institutional investors. One of them is Chase Investment Counsel Corp, which made a new $1.22 million investment in the company by acquiring 10,383 shares in the second quarter.
This investment is part of a larger trend where several other institutional investors have increased their holdings in Cisco Systems. Cozad Asset Management Inc., for example, lifted its position in the company by 0.3% in the first quarter and now owns 26,203 shares worth $2,033,000.
Cisco Systems has been a beneficiary of the growing demand for AI infrastructure, which is driving revenue growth. The company reported fiscal Q4 revenue of approximately $17.3 billion, up 18% year over year, and adjusted EPS of $1.22 versus the $1.17 consensus estimate.