Capital Asset Advisory Services Lowers stake in Cisco Systems (CSCO)

Cisco Systems (CSCO) : Capital Asset Advisory Services reduced its stake in Cisco Systems by 1.0% during the most recent quarter end. The investment management company now holds a total of 49,272 shares of Cisco Systems which is valued at $1,465,842 after selling 496 shares in Cisco Systems , the firm said in a disclosure report filed with the SEC on Jul 11, 2016.Cisco Systems makes up approximately 1.92% of Capital Asset Advisory Services’s portfolio.

Other Hedge Funds, Including , Hefty Wealth Partners boosted its stake in CSCO in the latest quarter, The investment management firm added 36,223 additional shares and now holds a total of 36,657 shares of Cisco Systems which is valued at $1,090,546. Cisco Systems makes up approx 0.88% of Hefty Wealth Partners’s portfolio.First Premier Bank boosted its stake in CSCO in the latest quarter, The investment management firm added 1,100 additional shares and now holds a total of 9,494 shares of Cisco Systems which is valued at $277,794. Cisco Systems makes up approx 0.21% of First Premier Bank’s portfolio.Iowa State Bank reduced its stake in CSCO by selling 170 shares or 0.12% in the most recent quarter. The Hedge Fund company now holds 144,292 shares of CSCO which is valued at $4,221,984. Cisco Systems makes up approx 2.14% of Iowa State Bank’s portfolio.Summit Financial Wealth Advisors boosted its stake in CSCO in the latest quarter, The investment management firm added 38,680 additional shares and now holds a total of 60,869 shares of Cisco Systems which is valued at $1,781,027. Cisco Systems makes up approx 0.74% of Summit Financial Wealth Advisors’s portfolio.

Cisco Systems opened for trading at $29.72 and hit $29.83 on the upside on Wednesday, eventually ending the session at $29.75, with a gain of 0.47% or 0.14 points. The heightened volatility saw the trading volume jump to 1,80,38,066 shares. Company has a market cap of $149,634 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. Cisco Systems was Downgraded by Goldman to ” Neutral” on Jun 15, 2016. 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 .

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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