Cisco Systems (CSCO) : Somerville Kurt F reduced its stake in Cisco Systems by 2.33% during the most recent quarter end. The investment management company now holds a total of 163,750 shares of Cisco Systems which is valued at $4.7 Million after selling 3,900 shares in Cisco Systems , the firm said in a disclosure report filed with the SEC on May 27, 2016.Cisco Systems makes up approximately 1.08% of Somerville Kurt F’s portfolio.
Other Hedge Funds, Including , Broderick Brian C reduced its stake in CSCO by selling 404 shares or 0.43% in the most recent quarter. The Hedge Fund company now holds 93,218 shares of CSCO which is valued at $2.7 Million. Cisco Systems makes up approx 1.16% of Broderick Brian C’s portfolio.Perkins Investment Management boosted its stake in CSCO in the latest quarter, The investment management firm added 893 additional shares and now holds a total of 143,903 shares of Cisco Systems which is valued at $4 Million. Cisco Systems makes up approx 0.06% of Perkins Investment Management’s portfolio.Mairs Power Inc reduced its stake in CSCO by selling 310 shares or 1.18% in the most recent quarter. The Hedge Fund company now holds 25,921 shares of CSCO which is valued at $725,010. Cisco Systems makes up approx 0.01% of Mairs Power Inc’s portfolio.Cmt Capital Markets Trading Gmbh reduced its stake in CSCO by selling 7,423 shares or 39.85% in the most recent quarter. The Hedge Fund company now holds 11,205 shares of CSCO which is valued at $313,404. Cisco Systems makes up approx 1.13% of Cmt Capital Markets Trading Gmbh’s portfolio.Frontier Wealth Management boosted its stake in CSCO in the latest quarter, The investment management firm added 5,920 additional shares and now holds a total of 179,939 shares of Cisco Systems which is valued at $4.8 Million. Cisco Systems makes up approx 0.39% of Frontier Wealth Management’s portfolio.
Cisco Systems closed down -0.03 points or -0.10% at $29.07 with 2,15,66,590 shares getting traded on Tuesday. Post opening the session at $28.9, the shares hit an intraday low of $28.82 and an intraday high of $29.35 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.
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.