Somerset Trust Co Lowers stake in Cisco Systems (CSCO)

Cisco Systems (CSCO) : Somerset Trust Co reduced its stake in Cisco Systems by 0.56% during the most recent quarter end. The investment management company now holds a total of 92,408 shares of Cisco Systems which is valued at $2,578,183 after selling 522 shares in Cisco Systems , the firm said in a disclosure report filed with the SEC on Apr 13, 2016.Cisco Systems makes up approximately 1.69% of Somerset Trust Co’s portfolio.

Cisco Systems opened for trading at $27.9 and hit $28.25 on the upside on Monday, eventually ending the session at $28.19, with a gain of 1.04% or 0.29 points. The heightened volatility saw the trading volume jump to 1,57,62,894 shares. Company has a market cap of $141,855 M.

Other Hedge Funds, Including , 1st Global Advisors boosted its stake in CSCO in the latest quarter, The investment management firm added 13,471 additional shares and now holds a total of 119,261 shares of Cisco Systems which is valued at $3,327,382. Cisco Systems makes up approx 0.47% of 1st Global Advisors’s portfolio.Edge Wealth Management boosted its stake in CSCO in the latest quarter, The investment management firm added 210,845 additional shares and now holds a total of 214,986 shares of Cisco Systems which is valued at $5,937,913. Cisco Systems makes up approx 2.71% of Edge Wealth Management’s portfolio.Mai Capital Management boosted its stake in CSCO in the latest quarter, The investment management firm added 2,184 additional shares and now holds a total of 367,834 shares of Cisco Systems which is valued at $10,159,575. Cisco Systems makes up approx 0.84% of Mai Capital Management’s portfolio.Charter Trust Co boosted its stake in CSCO in the latest quarter, The investment management firm added 4,841 additional shares and now holds a total of 85,714 shares of Cisco Systems which is valued at $2,367,421. Cisco Systems makes up approx 0.29% of Charter Trust Co’s portfolio.Curbstone Financial Management Corp boosted its stake in CSCO in the latest quarter, The investment management firm added 1,500 additional shares and now holds a total of 76,504 shares of Cisco Systems which is valued at $2,113,040. Cisco Systems makes up approx 0.71% of Curbstone Financial Management Corp’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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