Augustine Asset Management Inc Lowers stake in Cisco Systems (CSCO)

Cisco Systems (CSCO) : Augustine Asset Management Inc reduced its stake in Cisco Systems by 5.82% during the most recent quarter end. The investment management company now holds a total of 149,898 shares of Cisco Systems which is valued at $3,976,794 after selling 9,255 shares in Cisco Systems , the firm said in a disclosure report filed with the SEC on May 3, 2016.Cisco Systems makes up approximately 3.46% of Augustine Asset Management Inc’s portfolio.

Other Hedge Funds, Including , Callahan Advisors boosted its stake in CSCO in the latest quarter, The investment management firm added 19,822 additional shares and now holds a total of 251,736 shares of Cisco Systems which is valued at $6,920,223. Cisco Systems makes up approx 1.91% of Callahan Advisors’s portfolio.Nisa Investment Advisors L.l.c. boosted its stake in CSCO in the latest quarter, The investment management firm added 61,000 additional shares and now holds a total of 1,987,416 shares of Cisco Systems which is valued at $54,634,066. Cisco Systems makes up approx 0.78% of Nisa Investment Advisors L.l.c.’s portfolio.Narwhal Capital Management boosted its stake in CSCO in the latest quarter, The investment management firm added 23,215 additional shares and now holds a total of 131,515 shares of Cisco Systems which is valued at $3,702,147. Cisco Systems makes up approx 1.19% of Narwhal Capital Management’s portfolio.

Cisco Systems opened for trading at $26.67 and hit $27.1 on the upside on Tuesday, eventually ending the session at $27.03, with a gain of 1.96% or 0.52 points. The heightened volatility saw the trading volume jump to 2,26,42,488 shares. Company has a market cap of $136,018 M.

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.

Leave a Reply

Cisco Systems - Is it time to Sell?

Top Brokerage Firms are advising their investors on Cisco Systems. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.