Cisco Systems (CSCO) : Pinebridge Investments reduced its stake in Cisco Systems by 10.26% during the most recent quarter end. The investment management company now holds a total of 1,034,870 shares of Cisco Systems which is valued at $27.5 Million after selling 118,304 shares in Cisco Systems , the firm said in a disclosure report filed with the SEC on May 13, 2016.Cisco Systems makes up approximately 1.43% of Pinebridge Investments’s portfolio.
Other Hedge Funds, Including , Mariner Wealth Advisors reduced its stake in CSCO by selling 3,282 shares or 3.83% in the most recent quarter. The Hedge Fund company now holds 82,415 shares of CSCO which is valued at $2.2 Million. Cisco Systems makes up approx 0.13% of Mariner Wealth Advisors’s portfolio.Goelzer Investment Management boosted its stake in CSCO in the latest quarter, The investment management firm added 11,402 additional shares and now holds a total of 302,584 shares of Cisco Systems which is valued at $8 Million. Cisco Systems makes up approx 1.15% of Goelzer Investment Management’s portfolio.Cibc World Markets reduced its stake in CSCO by selling 179,736 shares or 34.22% in the most recent quarter. The Hedge Fund company now holds 345,493 shares of CSCO which is valued at $9.2 Million. Cisco Systems makes up approx 0.04% of Cibc World Markets’s portfolio. Jackson Wealth Management added CSCO to its portfolio by purchasing 44,137 company shares during the most recent quarter which is valued at $1.2 Million. Cisco Systems makes up approx 0.45% of Jackson Wealth Management’s portfolio.
Cisco Systems opened for trading at $28.58 and hit $29 on the upside on Wednesday, eventually ending the session at $28.92, with a gain of 1.58% or 0.45 points. The heightened volatility saw the trading volume jump to 2,57,29,608 shares. Company has a market cap of $145,529 M.
On the company’s financial health, Cisco Systems reported $0.57 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on May 18, 2016. Analyst had a consensus of $0.55. The company had revenue of $12000.00 million for the quarter, compared to analysts expectations of $11951.58 million. The company’s revenue was down -1.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.54 EPS.
Many Wall Street Analysts have commented on Cisco Systems. Company shares were Reiterated by RBC Capital Mkts on May 19, 2016 to “Outperform”, Firm has raised the Price Target to $ 33 from a previous price target of $31 .Company shares were Reiterated by Wunderlich on May 19, 2016 to “Hold”, Firm has raised the Price Target to $ 27 from a previous price target of $24 .Company shares were Reiterated by Barclays on May 19, 2016 to “Overweight”, Firm has raised the Price Target to $ 31 from a previous price target of $29 .
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.