Mechanics Bank Trust Department Lowers stake in Cisco Systems (CSCO)

Cisco Systems (CSCO) : Mechanics Bank Trust Department reduced its stake in Cisco Systems by 0.51% during the most recent quarter end. The investment management company now holds a total of 50,217 shares of Cisco Systems which is valued at $1,413,609 after selling 255 shares in Cisco Systems , the firm said in a disclosure report filed with the SEC on Apr 21, 2016.Cisco Systems makes up approximately 0.54% of Mechanics Bank Trust Department’s portfolio.

Cisco Systems opened for trading at $28.44 and hit $28.65 on the upside on Wednesday, eventually ending the session at $28.64, with a gain of 0.67% or 0.19 points. The heightened volatility saw the trading volume jump to 2,09,30,999 shares. Company has a market cap of $144,120 M.

Other Hedge Funds, Including , Alpha Omega Wealth Management reduced its stake in CSCO by selling 315 shares or 7.11% in the most recent quarter. The Hedge Fund company now holds 4,113 shares of CSCO which is valued at $115,781. Cisco Systems makes up approx 0.10% of Alpha Omega Wealth Management’s portfolio.Winslow Evans Crocker reduced its stake in CSCO by selling 305 shares or 0.87% in the most recent quarter. The Hedge Fund company now holds 34,809 shares of CSCO which is valued at $979,873. Cisco Systems makes up approx 0.29% of Winslow Evans Crocker’s portfolio.First Citizens Bank Trust Co reduced its stake in CSCO by selling 32,060 shares or 3.64% in the most recent quarter. The Hedge Fund company now holds 849,109 shares of CSCO which is valued at $23,902,418. Cisco Systems makes up approx 1.97% of First Citizens Bank Trust Co’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.Chicago Trust Co Na reduced its stake in CSCO by selling 6,237 shares or 17.68% in the most recent quarter. The Hedge Fund company now holds 29,043 shares of CSCO which is valued at $802,168. Cisco Systems makes up approx 0.35% of Chicago Trust Co Na’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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