Rockland Trust Boosts Cisco Stake by Over 1,100 Percent

Rockland Trust Co. significantly boosted its investment in Cisco Systems, Inc. (NASDAQ: CSCO) during the third quarter, increasing its stake by 1,193.6%. According to the latest Form 13F filing with the Securities and Exchange Commission, the institutional investor now holds 218,003 shares of Cisco's stock, valued at $23,464,000 after purchasing an additional 201,150 shares.

Other major investors have also made substantial moves involving Cisco Systems. BlackRock Inc. acquired a new stake worth approximately $42,129,647,000 during the second quarter. State Street Corp increased its position by 7.0%, now owning 207,106,569 shares valued at $25,278,492,000. Bank of America Corp DE and UBS AM also purchased significant stakes, worth $5,892,379,000 and $5,103,654,000 respectively.

Analysts have been optimistic about Cisco Systems, with several upgrading their ratings and price targets. Wells Fargo & Company raised its target price from $130.00 to $150.00 and gave the stock an "overweight" rating. Deutsche Bank started coverage with a "buy" rating and a $135.00 price target. The stock has a consensus "Moderate Buy" rating and a consensus price target of $128.52.

Despite the positive institutional activity, some insiders have been selling shares. EVP Thimaya Subaiya sold 5,832 shares at an average price of $111.47, while EVP Oliver Tuszik sold 2,760 shares at $112.46. Overall, insiders have sold 44,869 shares over the last three months, valued at $5,005,620.