Cisco Systems Stock Tumbles as Institutional Ownership Shifts

Cisco Systems' stock price has been affected by recent changes in its institutional ownership. Allworth Financial LP reduced its position in Cisco Systems, Inc. (NASDAQ:CSCO) by 15.6% in the second quarter, selling 116,840 shares during the period.

The firm owned 632,086 shares of the network equipment provider's stock after the sale, with a total value of $74,245,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in Cisco Systems. Bridgewater Advisors Inc. bought a new stake in the company in the second quarter valued at about $6,442,000.

Cisco's AI infrastructure demand remains a major growth catalyst for the company, with the firm reporting $4 billion in AI infrastructure orders during the quarter and driving record fiscal-year results.