JP Morgan Boosts Cisco Systems Outlook to Overweight
On November 11, 2024, JP Morgan raised its rating for Cisco Systems (WBAG:CSCO) from Neutral to Overweight.
Understanding Fund Sentiment
As of now, 4,443 funds and institutions hold positions in Cisco Systems. This reflects a small decrease of 36 owners, or 0.80%, from the previous quarter. The average portfolio weight for all funds holding Cisco stock is 0.58%, up 4.40%. Institutional ownership increased by 3.10% in the last three months, totaling 3,263,300K shares.
The Vanguard Total Stock Market Index Fund Investor Shares (VTSMX) owns 115,085K shares, or 2.88% of Cisco. In its last filing, the fund reported 114,484K shares, indicating a slight increase of 0.52%. However, its portfolio allocation to Cisco dropped by 6.95% last quarter.
Another key investor, Vanguard 500 Index Fund Investor Shares (VFINX), holds 103,926K shares, making up 2.60% of the company. In its previous filing, they had 102,404K shares, marking an increase of 1.46%, yet they reduced their Cisco portfolio allocation by 8.55% last quarter.
Geode Capital Management has 94,368K shares, representing 2.36% ownership. Their previous report showed 91,886K shares, an increase of 2.63%, but they cut their exposure in Cisco by a significant 51.56% over the last quarter.
Charles Schwab Investment Management owns 81,043K shares (2.03% ownership), up from 77,850K shares previously—a change of 3.94%. Nonetheless, they have decreased their allocation in Cisco by 31.05% in the last quarter.
Finally, Invesco QQQ Trust, Series 1 holds 77,595K shares, or 1.94%. Their last report indicated ownership of 75,900K shares, reflecting a 2.18% rise, but again, they reduced their portfolio share in Cisco by 12.40% recently.
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This story originally appeared on Fintel.
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