Athena Global Investors Lowers stake in Cisco Systems (CSCO)

Cisco Systems (CSCO) : Athena Global Investors reduced its stake in Cisco Systems by 38.43% during the most recent quarter end. The investment management company now holds a total of 154,115 shares of Cisco Systems which is valued at $4,769,859 after selling 96,201 shares in Cisco Systems , the firm said in a disclosure report filed with the SEC on Aug 8, 2016.Cisco Systems makes up approximately 7.13% of Athena Global Investors’s portfolio.

Other Hedge Funds, Including , Wealthsource Partners boosted its stake in CSCO in the latest quarter, The investment management firm added 2,915 additional shares and now holds a total of 24,465 shares of Cisco Systems which is valued at $757,192. Cisco Systems makes up approx 0.27% of Wealthsource Partners’s portfolio.Jennison Associates reduced its stake in CSCO by selling 1,569,327 shares or 27.4% in the most recent quarter. The Hedge Fund company now holds 4,159,065 shares of CSCO which is valued at $127,766,477. Cisco Systems makes up approx 0.13% of Jennison Associates’s portfolio.Blue Fin Capital boosted its stake in CSCO in the latest quarter, The investment management firm added 1,060 additional shares and now holds a total of 29,463 shares of Cisco Systems which is valued at $899,505. Cisco Systems makes up approx 0.73% of Blue Fin Capital’s portfolio.Armbruster Capital Management reduced its stake in CSCO by selling 1,130 shares or 13.44% in the most recent quarter. The Hedge Fund company now holds 7,275 shares of CSCO which is valued at $222,106. Cisco Systems makes up approx 0.14% of Armbruster Capital Management’s portfolio.Abner Herrman Brock boosted its stake in CSCO in the latest quarter, The investment management firm added 3,005 additional shares and now holds a total of 44,634 shares of Cisco Systems which is valued at $1,327,862. Cisco Systems makes up approx 0.31% of Abner Herrman Brock’s portfolio.

Cisco Systems opened for trading at $30.98 and hit $31.24 on the upside on Monday, eventually ending the session at $31.19, with a gain of 1.04% or 0.32 points. The heightened volatility saw the trading volume jump to 2,19,44,655 shares. Company has a market cap of $156,877 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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