Conning Lowers stake in Cisco Systems (CSCO)

Cisco Systems (CSCO) : Conning reduced its stake in Cisco Systems by 7.06% during the most recent quarter end. The investment management company now holds a total of 1,200,140 shares of Cisco Systems which is valued at $36,916,306 after selling 91,137 shares in Cisco Systems , the firm said in a disclosure report filed with the SEC on Jul 26, 2016.Cisco Systems makes up approximately 1.53% of Conning’s portfolio.

Other Hedge Funds, Including , Retirement Systems Of Alabama boosted its stake in CSCO in the latest quarter, The investment management firm added 502,678 additional shares and now holds a total of 3,689,203 shares of Cisco Systems which is valued at $113,479,884. Cisco Systems makes up approx 0.64% of Retirement Systems Of Alabama’s portfolio.Dorchester Wealth Management Co reduced its stake in CSCO by selling 47,615 shares or 26.18% in the most recent quarter. The Hedge Fund company now holds 134,230 shares of CSCO which is valued at $4,122,203. Cisco Systems makes up approx 1.49% of Dorchester Wealth Management Co’s portfolio.Regent Investment Management reduced its stake in CSCO by selling 1,300 shares or 1.86% in the most recent quarter. The Hedge Fund company now holds 68,724 shares of CSCO which is valued at $2,055,535. Cisco Systems makes up approx 1.07% of Regent Investment Management’s portfolio.Foundry Partners boosted its stake in CSCO in the latest quarter, The investment management firm added 41,865 additional shares and now holds a total of 733,775 shares of Cisco Systems which is valued at $21,829,806. Cisco Systems makes up approx 2.04% of Foundry Partners’s portfolio.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.

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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