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Cisco's stock drops as major investors sell off shares, despite strong earnings report.
Major investors have been selling off shares of Cisco Systems (CSCO), with Lederer & Associates reducing their stake by 9.0%, Adirondack Trust Co. by 3.7%, and Jacobs & Co. by 6.6%.
Despite this, Cisco reported strong first-quarter earnings, beating analyst expectations with $0.96 EPS and $14.15 billion in revenue.
The stock has a consensus "Moderate Buy" rating and a price target of $68.00.
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Las acciones de Cisco caen a medida que los principales inversores venden acciones, a pesar de un informe de ganancias fuertes.