Monterey Private Sells Cisco Stock.

Cisco stock NASDAQ:CSCO

According to its most recent 13F filing with the Securities and Exchange Commission, Monterey Private Wealth Inc. reduced its position in Cisco Stock (NASDAQ:CSCO) by 12.3% in the second quarter (SEC)

After selling 1,423 shares during the quarter, the company now owns 10,148 shares of the Cisco stock (NASDAQ:CSCO). Cisco Systems was worth $433,000 to Monterey Private Wealth Inc. at the conclusion of the most recent quarter.

Other institutional investors have also made changes to their positions in the firm. In the first quarter, Cordant Inc. purchased a new holding in Cisco Systems valued at roughly $28,000. Advanced Research Investment Solutions LLC increased its stake in Cisco Systems during the first quarter by 564.6%.

Performance of the Cisco Stock

On Thursday, Cisco stock (NASDAQ:CSCO) started at $41.59 per share. The 50-day simple moving average for the company is $45.13, and the 200-day simple moving average is $47.62. The 52-week low for Cisco stock (NASDAQ:CSCO) is $40.82, and the 52-week high is $64.29.

Cisco Systems (NASDAQ:CSCO) reported earnings on Wednesday, August 17th. The network equipment company announced $0.74 EPS for the quarter, $0.01 more than analysts’ average projections of $0.73. The company’s quarterly sales were $13.10 billion, compared to analyst projections of $12.78 billion.

Analysts on Wall Street Predict Growth

Several research analysts have lately published studies on the firm. In a research note released on Thursday, July 14th, JPMorgan Chase & Co. restated a “neutral” rating and assigned a $51.00 price target (down previously from$62.00) on shares of Cisco Systems. In a research report issued on Thursday, August 18th, Piper Sandler boosted their price goal on Cisco Systems from $43.00 to $47.00 and gave the company a “neutral” rating. 

In a research report issued on Wednesday, August 31st, KGI Securities upgraded Cisco Systems from a “neutral” rating to a “outperform.” In a research note issued on Wednesday, Barclays downgraded Cisco Systems from “overweight” to “equal weight” and reduced their price objective for Cisco stock (NASDAQ:CSCO) from $56.00 to $45.00.

Finally, in a research note issued on Thursday, August 18th, Credit Suisse Group raised their price target on Cisco Systems from $60.00 to $65.00, giving the company a “outperform” rating. One equity research analyst has given the company a sell rating, ten have given it a hold recommendation, and twelve have given it a buy rating. According to, the business has an average rating of “Hold” and a consensus price target of $54.10.

Cisco Systems

Cisco Systems, Inc. develops, produces, and distributes Internet Protocol-based networking and other communications and information technology products across the Americas, Europe, the Middle East, Africa, Asia Pacific, Japan, and China. It delivers infrastructure platforms, which include networking technologies such as switching, routing, wireless, and data center devices that are meant to operate together to provide networking capabilities and transmit and/or store data.

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