Capital Investment Counsel Inc buys $3,864,519 stake in Cisco Systems (CSCO)

Cisco Systems (CSCO) : Capital Investment Counsel Inc scooped up 6,817 additional shares in Cisco Systems during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 3, 2016. The investment management firm now holds a total of 145,666 shares of Cisco Systems which is valued at $3,864,519.Cisco Systems makes up approximately 2.04% of Capital Investment Counsel Inc’s portfolio.

Other Hedge Funds, Including , Bank Of The West boosted its stake in CSCO in the latest quarter, The investment management firm added 1,608 additional shares and now holds a total of 89,510 shares of Cisco Systems which is valued at $2,374,700. Cisco Systems makes up approx 0.33% of Bank Of The West’s portfolio.San Francisco Sentry Investment Group (ca) reduced its stake in CSCO by selling 17,954 shares or 32.77% in the most recent quarter. The Hedge Fund company now holds 36,834 shares of CSCO which is valued at $1,012,567. Cisco Systems makes up approx 0.60% of San Francisco Sentry Investment Group (ca)’s portfolio.Hills Bank Trust Co boosted its stake in CSCO in the latest quarter, The investment management firm added 600 additional shares and now holds a total of 9,300 shares of Cisco Systems which is valued at $255,657. Cisco Systems makes up approx 0.09% of Hills Bank Trust Co’s portfolio.Miller Howard Investments Inc Ny reduced its stake in CSCO by selling 179,150 shares or 3.79% in the most recent quarter. The Hedge Fund company now holds 4,545,102 shares of CSCO which is valued at $127,944,621. Cisco Systems makes up approx 2.28% of Miller Howard Investments Inc Ny’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.

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