Cisco Systems shares change hands as institutional investors buy and sell positions

Investment advisers and wealth managers adjusted their holdings in Cisco Systems during the first quarter. Ibex Wealth Advisors purchased 64,700 shares, valued at roughly $5 million, while Walled Lake Planning & Wealth Management sold 40,351 shares, cutting its stake by about 52% to 37,657 shares worth $2.9 million.

Other large investors also moved in the stock. Vanguard, State Street, Morgan Stanley, Invesco and Norges Bank increased their positions in the fourth quarter, collectively owning billions of dollars of Cisco shares. Additional activity included Auto Owners Insurance, Price T Rowe Associates, Arrowstreet Capital and Franklin Resources expanding their stakes.

Company insiders continued to sell. CEO Charles Robinson disposed of 21,400 shares for $2.57 million, and several executives sold smaller blocks. Overall insider sales in the last quarter totaled 47,650 shares valued at $5.67 million.