Evanson Asset Management buys $3,443,180 stake in Cisco Systems (CSCO)

Cisco Systems (CSCO) : Evanson Asset Management scooped up 114 additional shares in Cisco Systems during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Jul 19, 2016. The investment management firm now holds a total of 112,412 shares of Cisco Systems which is valued at $3,443,180.Cisco Systems makes up approximately 1.01% of Evanson Asset Management’s portfolio.

Other Hedge Funds, Including , Murphy Capital Management Inc reduced its stake in CSCO by selling 1,235 shares or 3.09% in the most recent quarter. The Hedge Fund company now holds 38,761 shares of CSCO which is valued at $1,187,249. Cisco Systems makes up approx 0.18% of Murphy Capital Management Inc’s portfolio.Parasol Investment Management boosted its stake in CSCO in the latest quarter, The investment management firm added 2,540 additional shares and now holds a total of 5,240 shares of Cisco Systems which is valued at $156,728. Cisco Systems makes up approx 0.16% of Parasol Investment Management’s portfolio.First United Bank Trust reduced its stake in CSCO by selling 367 shares or 1.09% in the most recent quarter. The Hedge Fund company now holds 33,395 shares of CSCO which is valued at $993,501. Cisco Systems makes up approx 0.84% of First United Bank Trust’s portfolio.North Star Investment Management Corp. boosted its stake in CSCO in the latest quarter, The investment management firm added 4,730 additional shares and now holds a total of 39,254 shares of Cisco Systems which is valued at $1,167,807. Cisco Systems makes up approx 0.21% of North Star Investment Management Corp.’s portfolio.Stillwater Investment Management boosted its stake in CSCO in the latest quarter, The investment management firm added 3,701 additional shares and now holds a total of 70,869 shares of Cisco Systems which is valued at $2,073,627. Cisco Systems makes up approx 1.17% of Stillwater Investment Management’s portfolio.

Cisco Systems opened for trading at $30.04 and hit $30.69 on the upside on Wednesday, eventually ending the session at $30.63, with a gain of 2.37% or 0.71 points. The heightened volatility saw the trading volume jump to 5,01,68,804 shares. Company has a market cap of $154,060 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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