Cisco Systems (CSCO) : Aqr Capital Management reduced its stake in Cisco Systems by 9.05% during the most recent quarter end. The investment management company now holds a total of 12,822,958 shares of Cisco Systems which is valued at $395,844,713 after selling 1,275,704 shares in Cisco Systems , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Cisco Systems makes up approximately 0.68% of Aqr Capital Management’s portfolio.
Other Hedge Funds, Including , Greenwood Gearhart Inc boosted its stake in CSCO in the latest quarter, The investment management firm added 1,372 additional shares and now holds a total of 192,116 shares of Cisco Systems which is valued at $5,930,621. Cisco Systems makes up approx 2.39% of Greenwood Gearhart Inc’s portfolio.Landmark Financial Advisors boosted its stake in CSCO in the latest quarter, The investment management firm added 506 additional shares and now holds a total of 14,901 shares of Cisco Systems which is valued at $459,994. Cisco Systems makes up approx 0.41% of Landmark Financial Advisors’s portfolio.Pzena Investment Management reduced its stake in CSCO by selling 154,648 shares or 5.61% in the most recent quarter. The Hedge Fund company now holds 2,602,784 shares of CSCO which is valued at $80,790,415. Cisco Systems makes up approx 0.48% of Pzena Investment Management’s portfolio.Garrison Financial Corp reduced its stake in CSCO by selling 1,547 shares or 11.06% in the most recent quarter. The Hedge Fund company now holds 12,439 shares of CSCO which is valued at $382,624. Cisco Systems makes up approx 0.25% of Garrison Financial Corp’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.
Cisco Systems opened for trading at $31.42 and hit $31.64 on the upside on Thursday, eventually ending the session at $31.58, with a gain of 0.45% or 0.14 points. The heightened volatility saw the trading volume jump to 1,59,80,457 shares. Company has a market cap of $158,838 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.