Skybridge Capital Ii adds Cisco Systems (CSCO) to its portfolio

Cisco Systems (CSCO) : Skybridge Capital Ii added new position in Cisco Systems during the most recent quarter end. The investment management firm now holds 455,777 shares of Cisco Systems which is valued at $14,133,645 , the company said in a statement filed on Aug 9, 2016 with the SEC.Cisco Systems makes up approximately 3.50% of Skybridge Capital Ii’s portfolio.

Other Hedge Funds, Including , Financial Advisory Service boosted its stake in CSCO in the latest quarter, The investment management firm added 2,278 additional shares and now holds a total of 12,681 shares of Cisco Systems which is valued at $392,477. Cisco Systems makes up approx 0.14% of Financial Advisory Service’s portfolio.Davidson Garrard Inc boosted its stake in CSCO in the latest quarter, The investment management firm added 3,394 additional shares and now holds a total of 126,987 shares of Cisco Systems which is valued at $3,941,676. Cisco Systems makes up approx 0.94% of Davidson Garrard Inc’s portfolio.Btc Capital Management boosted its stake in CSCO in the latest quarter, The investment management firm added 3,496 additional shares and now holds a total of 123,470 shares of Cisco Systems which is valued at $3,792,998. Cisco Systems makes up approx 0.80% of Btc Capital Management’s portfolio. Premier Asset Managment added CSCO to its portfolio by purchasing 21,050 company shares during the most recent quarter which is valued at $644,762. Cisco Systems makes up approx 0.16% of Premier Asset Managment’s portfolio. First Western Capital Management Co added CSCO to its portfolio by purchasing 56,100 company shares during the most recent quarter which is valued at $1,668,975. Cisco Systems makes up approx 0.59% of First Western Capital Management Co’s portfolio.

Cisco Systems closed down -0.4 points or -1.29% at $30.72 with 5,50,71,218 shares getting traded on Wednesday. Post opening the session at $30.97, the shares hit an intraday low of $30.33 and an intraday high of $30.9701 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, Cisco Systems reported $0.63 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Aug 17, 2016. Analyst had a consensus of $0.60. The company had revenue of $12638.00 million for the quarter, compared to analysts expectations of $12571.21 million. The company’s revenue was down -1.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.59 EPS.

Many Wall Street Analysts have commented on Cisco Systems. Company shares were Reiterated by Jefferies on Aug 17, 2016 to “Buy”, Firm has raised the Price Target to $ 35 from a previous price target of $30.75 .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.

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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