Cisco Systems Sees Optimism Amid Reduced Institutional Stake
Addison Advisors LLC reduced its stake in Cisco Systems Inc. (NASDAQ:CSCO) by 87.7% during the second quarter, according to a recent Securities and Exchange Commission filing. The institutional investor sold 14,812 shares of Cisco's stock during this period.
As of the end of the quarter, Addison Advisors LLC owned 2,074 shares of the network equipment provider's stock, valued at approximately $244,000. This was a significant decrease in their position from the previous quarter.
Cisco Systems reported quarterly revenue of around $17.3 billion, up 18% year over year, and adjusted earnings per share (EPS) of $1.22, exceeding the consensus estimate of $1.17. The company's management also provided an optimistic outlook for fiscal 2027, reinforcing expectations for continued growth.