Newfocus Financial Group buys $4,232,803 stake in Cisco Systems (CSCO)

Cisco Systems (CSCO) : Newfocus Financial Group scooped up 6,542 additional shares in Cisco Systems during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 9, 2016. The investment management firm now holds a total of 136,498 shares of Cisco Systems which is valued at $4,232,803.Cisco Systems makes up approximately 3.00% of Newfocus Financial Group’s portfolio.

Other Hedge Funds, Including , Private Advisor Group boosted its stake in CSCO in the latest quarter, The investment management firm added 40,816 additional shares and now holds a total of 197,173 shares of Cisco Systems which is valued at $6,114,335. Cisco Systems makes up approx 0.24% of Private Advisor Group’s portfolio.Hemenway Trust Co reduced its stake in CSCO by selling 1,046 shares or 0.56% in the most recent quarter. The Hedge Fund company now holds 186,651 shares of CSCO which is valued at $5,776,848. Cisco Systems makes up approx 1.46% of Hemenway Trust Co’s portfolio.Pinnacle Wealth Management Advisory Group boosted its stake in CSCO in the latest quarter, The investment management firm added 1,179 additional shares and now holds a total of 9,150 shares of Cisco Systems which is valued at $284,016. Cisco Systems makes up approx 0.22% of Pinnacle Wealth Management Advisory Group’s portfolio.Cutter Co Brokerage boosted its stake in CSCO in the latest quarter, The investment management firm added 810 additional shares and now holds a total of 15,713 shares of Cisco Systems which is valued at $482,703. Cisco Systems makes up approx 0.21% of Cutter Co Brokerage’s portfolio.Hosking Partners Llp boosted its stake in CSCO in the latest quarter, The investment management firm added 25,490 additional shares and now holds a total of 194,907 shares of Cisco Systems which is valued at $5,987,543. Cisco Systems makes up approx 0.23% of Hosking Partners Llp’s portfolio.

Cisco Systems closed down -0.4 points or -1.29% at $30.72 with 5,50,71,218 shares getting traded on Wednesday. Post opening the session at $30.97, the shares hit an intraday low of $30.33 and an intraday high of $30.9701 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, Cisco Systems reported $0.63 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Aug 17, 2016. Analyst had a consensus of $0.60. The company had revenue of $12638.00 million for the quarter, compared to analysts expectations of $12571.21 million. The company’s revenue was down -1.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.59 EPS.

Many Wall Street Analysts have commented on Cisco Systems. Company shares were Reiterated by Jefferies on Aug 17, 2016 to “Buy”, Firm has raised the Price Target to $ 35 from a previous price target of $30.75 .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.

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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