Cobiz Investment Management Lowers stake in Cisco Systems (CSCO)

Cisco Systems (CSCO) : Cobiz Investment Management reduced its stake in Cisco Systems by 6.95% during the most recent quarter end. The investment management company now holds a total of 41,499 shares of Cisco Systems which is valued at $1,274,849 after selling 3,100 shares in Cisco Systems , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.Cisco Systems makes up approximately 0.31% of Cobiz Investment Management’s portfolio.

Other Hedge Funds, Including , Riverbridge Partners reduced its stake in CSCO by selling 17,451 shares or 2.53% in the most recent quarter. The Hedge Fund company now holds 672,821 shares of CSCO which is valued at $20,669,061. Cisco Systems makes up approx 0.42% of Riverbridge Partners’s portfolio. Pointe Capital Management added CSCO to its portfolio by purchasing 12,958 company shares during the most recent quarter which is valued at $398,588. Cisco Systems makes up approx 0.29% of Pointe Capital Management’s portfolio.Yhb Investment Advisors boosted its stake in CSCO in the latest quarter, The investment management firm added 9,747 additional shares and now holds a total of 51,494 shares of Cisco Systems which is valued at $1,581,381. Cisco Systems makes up approx 0.34% of Yhb Investment Advisors’s portfolio.Nn Investment Partners Holdings N.v. boosted its stake in CSCO in the latest quarter, The investment management firm added 568,074 additional shares and now holds a total of 4,807,549 shares of Cisco Systems which is valued at $143,024,583. Cisco Systems makes up approx 1.32% of Nn Investment Partners Holdings N.v.’s portfolio.Iowa State Bank reduced its stake in CSCO by selling 170 shares or 0.12% in the most recent quarter. The Hedge Fund company now holds 144,292 shares of CSCO which is valued at $4,221,984. Cisco Systems makes up approx 2.14% of Iowa State Bank’s portfolio.

Cisco Systems opened for trading at $30.78 and hit $30.91 on the upside on Thursday, eventually ending the session at $30.8, with a gain of 0.26% or 0.08 points. The heightened volatility saw the trading volume jump to 1,85,86,492 shares. Company has a market cap of $154,915 M.

On the company’s financial health, Cisco Systems reported $0.57 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on May 18, 2016. Analyst had a consensus of $0.55. The company had revenue of $12000.00 million for the quarter, compared to analysts expectations of $11951.58 million. The company’s revenue was down -1.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.54 EPS.

Many Wall Street Analysts have commented on Cisco Systems. Company shares were Reiterated by RBC Capital Mkts on Jul 28, 2016 to “Outperform”, Firm has raised the Price Target to $ 35 from a previous price target of $33 .Cisco Systems was Downgraded by Goldman to ” Neutral” on Jun 15, 2016. Company shares were Reiterated by RBC Capital Mkts on May 19, 2016 to “Outperform”, Firm has raised the Price Target to $ 33 from a previous price target of $31 .

Cisco System Inc. (Cisco) designs and sells lines of products provides services and delivers integrated solutions to develop and connect networks around the world building the Internet. The Company is engaged in designing manufacturing and selling Internet Protocol (IP)-based networking and other products related to the communications and information technology (IT) industry and provides services associated with these products and their use. The Company operates its business through three segments: The Americas; Europe Middle East and Africa (EMEA) and Asia Pacific Japan and China (APJC). It groups its products and technologies into the various categories such as Switching Next-Generation Network (NGN) Routing Collaboration Service Provider Video Data Center Wireless Security and Other Products. In addition to its product offerings it provides a range of service offerings including technical support services and advanced services.

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