Mission Wealth Management buys $545,772 stake in Cisco Systems (CSCO)

Cisco Systems (CSCO) : Mission Wealth Management scooped up 423 additional shares in Cisco Systems during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 3, 2016. The investment management firm now holds a total of 17,766 shares of Cisco Systems which is valued at $545,772.Cisco Systems makes up approximately 0.13% of Mission Wealth Management’s portfolio.

Other Hedge Funds, Including , Taylor Frigon Capital Management sold out all of its stake in CSCO during the most recent quarter. The investment firm sold 45,324 shares of CSCO which is valued $1,392,353.Duff Phelps Investment Management Co reduced its stake in CSCO by selling 1,990 shares or 2.95% in the most recent quarter. The Hedge Fund company now holds 65,360 shares of CSCO which is valued at $1,995,441. Cisco Systems makes up approx 0.03% of Duff Phelps Investment Management Co’s portfolio.Hoertkorn Richard Charles reduced its stake in CSCO by selling 300 shares or 0.61% in the most recent quarter. The Hedge Fund company now holds 48,645 shares of CSCO which is valued at $1,493,888. Cisco Systems makes up approx 1.14% of Hoertkorn Richard Charles’s portfolio.Cornerstone Investment Partners reduced its stake in CSCO by selling 298,138 shares or 5.92% in the most recent quarter. The Hedge Fund company now holds 4,740,324 shares of CSCO which is valued at $141,024,639. Cisco Systems makes up approx 4.75% of Cornerstone Investment Partners’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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