Northcape Cuts Stake in Cisco Systems Amid AI Boom

Northcape Wealth Management LLC reduced its stake in Cisco Systems Inc. (NASDAQ:CSCO) by selling 17,455 shares during the second quarter, according to a recent filing with the Securities and Exchange Commission.

The institutional investor cut its holdings in Cisco Systems by 29.8% from 41,126 shares, making the stock its 22nd biggest position, accounting for approximately 1.3% of Northcape Wealth Management LLC's portfolio.

The company had valued these shares at $4,831,000 at the end of the quarter.

Other institutional investors have made changes to their positions in Cisco Systems as well. Brighton Jones LLC increased its holdings by 49.5% to 74,187 shares worth $4,392,000 in the fourth quarter.