Guinness Atkinson Asset Management Inc Lowers stake in Cisco Systems (CSCO)

Cisco Systems (CSCO) : Guinness Atkinson Asset Management Inc reduced its stake in Cisco Systems by 1.13% during the most recent quarter end. The investment management company now holds a total of 217,025 shares of Cisco Systems which is valued at $6,675,689 after selling 2,480 shares in Cisco Systems , the firm said in a disclosure report filed with the SEC on Jul 25, 2016.Cisco Systems makes up approximately 4.01% of Guinness Atkinson Asset Management Inc’s portfolio.

Other Hedge Funds, Including , Court Place Advisors boosted its stake in CSCO in the latest quarter, The investment management firm added 2,614 additional shares and now holds a total of 137,534 shares of Cisco Systems which is valued at $4,230,546. Cisco Systems makes up approx 2.39% of Court Place Advisors’s portfolio.Sumitomo Life Insurance Co reduced its stake in CSCO by selling 19,347 shares or 7.45% in the most recent quarter. The Hedge Fund company now holds 240,496 shares of CSCO which is valued at $7,193,235. Cisco Systems makes up approx 0.96% of Sumitomo Life Insurance Co’s portfolio.M. Kraus Co boosted its stake in CSCO in the latest quarter, The investment management firm added 5,073 additional shares and now holds a total of 150,700 shares of Cisco Systems which is valued at $4,409,482. Cisco Systems makes up approx 2.58% of M. Kraus Co’s portfolio.

Cisco Systems opened for trading at $30.6 and hit $30.69 on the upside on Friday, eventually ending the session at $30.53, with a gain of 0.03% or 0.01 points. The heightened volatility saw the trading volume jump to 2,38,07,196 shares. Company has a market cap of $153,557 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 Jul 28, 2016 to “Outperform”, Firm has raised the Price Target to $ 35 from a previous price target of $33 .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 .

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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