Cisco Systems (CSCO) : Grimes Company reduced its stake in Cisco Systems by 1.43% during the most recent quarter end. The investment management company now holds a total of 351,610 shares of Cisco Systems which is valued at $10,815,524 after selling 5,118 shares in Cisco Systems , the firm said in a disclosure report filed with the SEC on Jul 25, 2016.Cisco Systems makes up approximately 1.40% of Grimes Company’s portfolio.
Other Hedge Funds, Including , Wagner Bowman Management Corp reduced its stake in CSCO by selling 2,173 shares or 9.23% in the most recent quarter. The Hedge Fund company now holds 21,369 shares of CSCO which is valued at $657,310. Cisco Systems makes up approx 0.25% of Wagner Bowman Management Corp’s portfolio.Palladium Partners reduced its stake in CSCO by selling 1,807 shares or 0.41% in the most recent quarter. The Hedge Fund company now holds 433,643 shares of CSCO which is valued at $13,282,485. Cisco Systems makes up approx 1.17% of Palladium Partners’s portfolio.Bristol John W Co Inc Ny reduced its stake in CSCO by selling 173,129 shares or 5.88% in the most recent quarter. The Hedge Fund company now holds 2,769,485 shares of CSCO which is valued at $82,835,296. Cisco Systems makes up approx 2.25% of Bristol John W Co Inc Ny’s portfolio. First American Trust Fsb added CSCO to its portfolio by purchasing 7,739 company shares during the most recent quarter which is valued at $226,443. Cisco Systems makes up approx 0.08% of First American Trust Fsb’s portfolio.
Cisco Systems opened for trading at $30.6 and hit $30.69 on the upside on Friday, eventually ending the session at $30.53, with a gain of 0.03% or 0.01 points. The heightened volatility saw the trading volume jump to 2,38,07,196 shares. Company has a market cap of $153,557 M.
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.