Stearns Financial Services Group buys $2,066,283 stake in Cisco Systems (CSCO)

Cisco Systems (CSCO) : Stearns Financial Services Group scooped up 524 additional shares in Cisco Systems during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 11, 2016. The investment management firm now holds a total of 66,935 shares of Cisco Systems which is valued at $2,066,283.Cisco Systems makes up approximately 0.57% of Stearns Financial Services Group’s portfolio.

Other Hedge Funds, Including , Baird Financial Group boosted its stake in CSCO in the latest quarter, The investment management firm added 14,526 additional shares and now holds a total of 3,127,302 shares of Cisco Systems which is valued at $96,539,813. Cisco Systems makes up approx 0.84% of Baird Financial Group’s portfolio.Lourd Capital boosted its stake in CSCO in the latest quarter, The investment management firm added 370 additional shares and now holds a total of 18,604 shares of Cisco Systems which is valued at $571,515. Cisco Systems makes up approx 0.16% of Lourd Capital’s portfolio.Vigilant Capital Management boosted its stake in CSCO in the latest quarter, The investment management firm added 5,306 additional shares and now holds a total of 5,839 shares of Cisco Systems which is valued at $178,849. Cisco Systems makes up approx 0.03% of Vigilant Capital Management’s portfolio.Cutler Group Lp boosted its stake in CSCO in the latest quarter, The investment management firm added 2,021 additional shares and now holds a total of 7,191 shares of Cisco Systems which is valued at $213,932. Cisco Systems makes up approx 0.01% of Cutler Group Lp’s portfolio.

Cisco Systems opened for trading at $30.83 and hit $31.06 on the upside on Tuesday, eventually ending the session at $30.98, with a gain of 1.14% or 0.35 points. The heightened volatility saw the trading volume jump to 2,34,92,905 shares. Company has a market cap of $155,820 M.

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.

Leave a Reply

Cisco Systems - Is it time to Sell?

Top Brokerage Firms are advising their investors on Cisco Systems. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.