Cisco Systems (CSCO) : Highland Capital Management reduced its stake in Cisco Systems by 2.98% during the most recent quarter end. The investment management company now holds a total of 530,963 shares of Cisco Systems which is valued at $14,813,868 after selling 16,329 shares in Cisco Systems , the firm said in a disclosure report filed with the SEC on Apr 15, 2016.Cisco Systems makes up approximately 1.25% of Highland Capital Management’s portfolio.
Cisco Systems closed down -0.2 points or -0.70% at $28.24 with 1,73,39,866 shares getting traded on Wednesday. Post opening the session at $28.42, the shares hit an intraday low of $28.16 and an intraday high of $28.51 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.
Other Hedge Funds, Including , Boyd Watterson Asset Managementoh reduced its stake in CSCO by selling 519 shares or 0.8% in the most recent quarter. The Hedge Fund company now holds 64,030 shares of CSCO which is valued at $1,786,437. Cisco Systems makes up approx 0.89% of Boyd Watterson Asset Managementoh’s portfolio. Mcnamara Financial Services sold out all of its stake in CSCO during the most recent quarter. The investment firm sold 66,995 shares of CSCO which is valued $1,869,161.Vigilant Capital Management reduced its stake in CSCO by selling 800 shares or 60.02% in the most recent quarter. The Hedge Fund company now holds 533 shares of CSCO which is valued at $14,721.Chevy Chase Trust Holdings reduced its stake in CSCO by selling 216,439 shares or 4.14% in the most recent quarter. The Hedge Fund company now holds 5,009,719 shares of CSCO which is valued at $138,368,439. Cisco Systems makes up approx 0.80% of Chevy Chase Trust Holdings’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.