Guinness Atkinson Asset Management Inc Lowers stake in Cisco Systems (CSCO)

Cisco Systems (CSCO) : Guinness Atkinson Asset Management Inc reduced its stake in Cisco Systems by 5.76% during the most recent quarter end. The investment management company now holds a total of 219,505 shares of Cisco Systems which is valued at $6,124,190 after selling 13,420 shares in Cisco Systems , the firm said in a disclosure report filed with the SEC on Apr 12, 2016.Cisco Systems makes up approximately 3.75% of Guinness Atkinson Asset Management Inc’s portfolio.

Cisco Systems closed down -0.35 points or -1.24% at $27.9 with 2,38,04,382 shares getting traded on Friday. Post opening the session at $28.1, the shares hit an intraday low of $27.73 and an intraday high of $28.13 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

Other Hedge Funds, Including , Prospera Financial Services Inc boosted its stake in CSCO in the latest quarter, The investment management firm added 2,595 additional shares and now holds a total of 17,832 shares of Cisco Systems which is valued at $497,513. Cisco Systems makes up approx 0.11% of Prospera Financial Services Inc’s portfolio.Beese Fulmer Investment Management boosted its stake in CSCO in the latest quarter, The investment management firm added 735 additional shares and now holds a total of 8,808 shares of Cisco Systems which is valued at $245,743. Cisco Systems makes up approx 0.07% of Beese Fulmer Investment Management’s portfolio.Lenox Wealth Advisors reduced its stake in CSCO by selling 262 shares or 17.82% in the most recent quarter. The Hedge Fund company now holds 1,208 shares of CSCO which is valued at $33,703. Cisco Systems makes up approx 0.01% of Lenox Wealth Advisors’s portfolio.Foundation Resource Management Inc boosted its stake in CSCO in the latest quarter, The investment management firm added 6,070 additional shares and now holds a total of 369,851 shares of Cisco Systems which is valued at $10,215,285. Cisco Systems makes up approx 2.06% of Foundation Resource Management Inc’s portfolio.

On the company’s financial health, Cisco Systems reported $0.57 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Feb 10, 2016. Analyst had a consensus of $0.54. The company had revenue of $11927.00 million for the quarter, compared to analysts expectations of $11750.05 million. The company’s revenue was down -.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.53 EPS.

Many Wall Street Analysts have commented on Cisco Systems. Company shares were Upgraded by JP Morgan on Apr 6, 2016 to ” Neutral”, Firm has raised the Price Target to $ 27.50 from a previous price target of $17 .Company shares were Downgraded by BofA/Merrill on Apr 5, 2016 to ” Neutral”, Firm has raised the Price Target to $ 30 from a previous price target of $27 .RBC Capital Mkts Resumed Cisco Systems on Mar 16, 2016 to “Outperform”, Price Target of the shares are set at $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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