Montag A Associates Inc Lowers stake in Cisco Systems (CSCO)

Cisco Systems (CSCO) : Montag A Associates Inc reduced its stake in Cisco Systems by 7.61% during the most recent quarter end. The investment management company now holds a total of 167,276 shares of Cisco Systems which is valued at $5,138,719 after selling 13,786 shares in Cisco Systems , the firm said in a disclosure report filed with the SEC on Aug 2, 2016.Cisco Systems makes up approximately 0.66% of Montag A Associates Inc’s portfolio.

Other Hedge Funds, Including , Roanoke Asset Management Corp Ny boosted its stake in CSCO in the latest quarter, The investment management firm added 4,555 additional shares and now holds a total of 38,822 shares of Cisco Systems which is valued at $1,192,612. Cisco Systems makes up approx 0.52% of Roanoke Asset Management Corp Ny’s portfolio.Roberts Glore Co Inc Il reduced its stake in CSCO by selling 3,664 shares or 3.29% in the most recent quarter. The Hedge Fund company now holds 107,767 shares of CSCO which is valued at $3,290,127. Cisco Systems makes up approx 2.42% of Roberts Glore Co Inc Il’s portfolio.Country Club Trust Company N.a. boosted its stake in CSCO in the latest quarter, The investment management firm added 20,188 additional shares and now holds a total of 569,848 shares of Cisco Systems which is valued at $17,500,032. Cisco Systems makes up approx 2.47% of Country Club Trust Company N.a.’s portfolio.Augustine Asset Management Inc boosted its stake in CSCO in the latest quarter, The investment management firm added 1,390 additional shares and now holds a total of 151,288 shares of Cisco Systems which is valued at $4,500,818. Cisco Systems makes up approx 3.50% of Augustine Asset Management Inc’s portfolio.Exxonmobil Investment Management Inc Tx boosted its stake in CSCO in the latest quarter, The investment management firm added 76,743 additional shares and now holds a total of 1,301,942 shares of Cisco Systems which is valued at $38,094,823. Cisco Systems makes up approx 0.79% of Exxonmobil Investment Management Inc Tx’s portfolio.

Cisco Systems closed down -0.03 points or -0.10% at $31.01 with 1,90,19,941 shares getting traded on Monday. Post opening the session at $31, the shares hit an intraday low of $30.86 and an intraday high of $31.19 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

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.

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