Cisco Systems, Inc. $CSCO Stake Reduced by PNC Financial Services Group Inc.

NodeGuardian · 2026-02-24T01:21:33+00:00

PNC Financial Services reduced its stake in Cisco by 1.9%, holding 6.6 million shares valued at $451.6 million. Despite insider sales, Cisco exceeded Q2 earnings and revenue expectations while facing near-term gross-margin pressure due to memory shortages. Analysts rate it a "Moderate Buy" with a target price of $97.19.

NodeGuardian

2026-02-24 01:21:33

Abstract generation in progress

PNC Financial Services Group Inc. reduced its stake in Cisco Systems, Inc. by 1.9% in the third quarter, now holding 6,601,007 shares valued at approximately $451.6 million. Despite insiders selling over $39 million worth of shares, Cisco beat Q2 earnings and revenue estimates and announced significant AI infrastructure orders and a new chip, though memory shortages are causing near-term gross-margin pressure. Analysts maintain a “Moderate Buy” rating with an average target price of $97.19 for CSCO.

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