Foundation Resource Management Inc Lowers stake in Cisco Systems (CSCO)

Cisco Systems (CSCO) : Foundation Resource Management Inc reduced its stake in Cisco Systems by 0.3% during the most recent quarter end. The investment management company now holds a total of 368,726 shares of Cisco Systems which is valued at $11,648,054 after selling 1,125 shares in Cisco Systems , the firm said in a disclosure report filed with the SEC on Oct 5, 2016.Cisco Systems makes up approximately 2.10% of Foundation Resource Management Inc’s portfolio.

Other Hedge Funds, Including , Summit Financial Wealth Advisors boosted its stake in CSCO in the latest quarter, The investment management firm added 49,939 additional shares and now holds a total of 110,808 shares of Cisco Systems which is valued at $3,500,425. Cisco Systems makes up approx 1.53% of Summit Financial Wealth Advisors’s portfolio.Eqis Capital Management boosted its stake in CSCO in the latest quarter, The investment management firm added 13,454 additional shares and now holds a total of 58,416 shares of Cisco Systems which is valued at $1,845,361. Cisco Systems makes up approx 0.12% of Eqis Capital Management’s portfolio.Cacti Asset Management reduced its stake in CSCO by selling 3,000 shares or 23.08% in the most recent quarter. The Hedge Fund company now holds 10,000 shares of CSCO which is valued at $315,900. Cisco Systems makes up approx 0.03% of Cacti Asset Management’s portfolio.Lvm Capital Management Ltdmi boosted its stake in CSCO in the latest quarter, The investment management firm added 3,755 additional shares and now holds a total of 437,985 shares of Cisco Systems which is valued at $13,835,946. Cisco Systems makes up approx 4.37% of Lvm Capital Management Ltdmi’s portfolio.Beacon Financial Group boosted its stake in CSCO in the latest quarter, The investment management firm added 2,694 additional shares and now holds a total of 28,870 shares of Cisco Systems which is valued at $912,003. Cisco Systems makes up approx 0.19% of Beacon Financial Group’s portfolio.

Cisco Systems closed down -0.15 points or -0.48% at $31.35 with 1,84,60,433 shares getting traded on Tuesday. Post opening the session at $31.46, the shares hit an intraday low of $31.15 and an intraday high of $31.63 and the price fluctuated in this range throughout the day.Shares ended Tuesday 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 Deutsche Bank on Sep 14, 2016 to “Buy”, Firm has raised the Price Target to $ 37 from a previous price target of $35 .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 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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