Columbia Asset Management buys $5,093,287 stake in Cisco Systems (CSCO)

Cisco Systems (CSCO) : Columbia Asset Management scooped up 1,284 additional shares in Cisco Systems during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 8, 2016. The investment management firm now holds a total of 164,565 shares of Cisco Systems which is valued at $5,093,287.Cisco Systems makes up approximately 1.75% of Columbia Asset Management’s portfolio.

Other Hedge Funds, Including , Moors Cabot boosted its stake in CSCO in the latest quarter, The investment management firm added 8,127 additional shares and now holds a total of 43,050 shares of Cisco Systems which is valued at $1,332,398. Cisco Systems makes up approx 0.23% of Moors Cabot’s portfolio.Hudock Capital Group boosted its stake in CSCO in the latest quarter, The investment management firm added 15,915 additional shares and now holds a total of 41,226 shares of Cisco Systems which is valued at $1,266,463. Cisco Systems makes up approx 0.68% of Hudock Capital Group’s portfolio.Tocqueville Asset Management boosted its stake in CSCO in the latest quarter, The investment management firm added 8,675 additional shares and now holds a total of 520,350 shares of Cisco Systems which is valued at $15,886,286. Cisco Systems makes up approx 0.20% of Tocqueville Asset Management’s portfolio.Roffman Miller Associates Inc Pa reduced its stake in CSCO by selling 323 shares or 1.55% in the most recent quarter. The Hedge Fund company now holds 20,565 shares of CSCO which is valued at $629,906. Cisco Systems makes up approx 0.10% of Roffman Miller Associates Inc Pa’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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