World Asset Management Inc buys $15,686,216 stake in Cisco Systems (CSCO)

Cisco Systems (CSCO) : World Asset Management Inc scooped up 5,570 additional shares in Cisco Systems during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 2, 2016. The investment management firm now holds a total of 510,619 shares of Cisco Systems which is valued at $15,686,216.Cisco Systems makes up approximately 0.58% of World Asset Management Inc’s portfolio.

Other Hedge Funds, Including , Davy Asset Management Ltd reduced its stake in CSCO by selling 21,968 shares or 20.31% in the most recent quarter. The Hedge Fund company now holds 86,183 shares of CSCO which is valued at $2,647,542. Cisco Systems makes up approx 0.53% of Davy Asset Management Ltd’s portfolio.Sequoia Financial Advisors boosted its stake in CSCO in the latest quarter, The investment management firm added 24,515 additional shares and now holds a total of 209,693 shares of Cisco Systems which is valued at $6,401,927. Cisco Systems makes up approx 1.74% of Sequoia Financial Advisors’s portfolio.Dorchester Wealth Management Co reduced its stake in CSCO by selling 47,615 shares or 26.18% in the most recent quarter. The Hedge Fund company now holds 134,230 shares of CSCO which is valued at $4,122,203. Cisco Systems makes up approx 1.49% of Dorchester Wealth Management Co’s portfolio.Gw&k Investment Management boosted its stake in CSCO in the latest quarter, The investment management firm added 50,620 additional shares and now holds a total of 937,541 shares of Cisco Systems which is valued at $27,891,845. Cisco Systems makes up approx 0.57% of Gw&k Investment Management’s portfolio.Integrated Investment Consultants boosted its stake in CSCO in the latest quarter, The investment management firm added 3,357 additional shares and now holds a total of 41,849 shares of Cisco Systems which is valued at $1,185,582. Cisco Systems makes up approx 0.62% of Integrated Investment Consultants’s portfolio.

Cisco Systems closed down -0.03 points or -0.10% at $31.01 with 1,90,19,941 shares getting traded on Monday. Post opening the session at $31, the shares hit an intraday low of $30.86 and an intraday high of $31.19 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

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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