Cisco Systems (CSCO) : Mizuho Trust Banking Ltd. reduced its stake in Cisco Systems by 0.9% during the most recent quarter end. The investment management company now holds a total of 7,976,319 shares of Cisco Systems which is valued at $245,032,520 after selling 72,652 shares in Cisco Systems , the firm said in a disclosure report filed with the SEC on Aug 2, 2016.Cisco Systems makes up approximately 0.73% of Mizuho Trust Banking Ltd.’s portfolio.
Other Hedge Funds, Including , Welch Forbes boosted its stake in CSCO in the latest quarter, The investment management firm added 21,242 additional shares and now holds a total of 352,432 shares of Cisco Systems which is valued at $10,826,711. Cisco Systems makes up approx 0.32% of Welch Forbes’s portfolio. Baring Asset Management Ltd sold out all of its stake in CSCO during the most recent quarter. The investment firm sold 48,056 shares of CSCO which is valued $1,478,203.First Niagara Bank reduced its stake in CSCO by selling 500 shares or 0.88% in the most recent quarter. The Hedge Fund company now holds 56,365 shares of CSCO which is valued at $1,733,787. Cisco Systems makes up approx 0.48% of First Niagara Bank’s portfolio.Dearborn Partners boosted its stake in CSCO in the latest quarter, The investment management firm added 780 additional shares and now holds a total of 35,451 shares of Cisco Systems which is valued at $1,085,864. Cisco Systems makes up approx 0.09% of Dearborn Partners’s portfolio.Balasa Dinverno Foltz boosted its stake in CSCO in the latest quarter, The investment management firm added 1,509 additional shares and now holds a total of 16,945 shares of Cisco Systems which is valued at $506,825. Cisco Systems makes up approx 0.09% of Balasa Dinverno Foltz’s portfolio.
Cisco Systems closed down -0.03 points or -0.10% at $31.01 with 1,90,19,941 shares getting traded on Monday. Post opening the session at $31, the shares hit an intraday low of $30.86 and an intraday high of $31.19 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
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.