Argent Trust Co Lowers stake in Cisco Systems (CSCO)

Cisco Systems (CSCO) : Argent Trust Co reduced its stake in Cisco Systems by 2.38% during the most recent quarter end. The investment management company now holds a total of 128,763 shares of Cisco Systems which is valued at $3,974,914 after selling 3,135 shares in Cisco Systems , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.Cisco Systems makes up approximately 1.21% of Argent Trust Co’s portfolio.

Other Hedge Funds, Including , Canada Pension Plan Investment Board boosted its stake in CSCO in the latest quarter, The investment management firm added 975,333 additional shares and now holds a total of 5,145,345 shares of Cisco Systems which is valued at $158,836,800. Cisco Systems makes up approx 0.61% of Canada Pension Plan Investment Board’s portfolio.Highpoint Advisor Group boosted its stake in CSCO in the latest quarter, The investment management firm added 12,429 additional shares and now holds a total of 38,461 shares of Cisco Systems which is valued at $1,187,291. Cisco Systems makes up approx 0.42% of Highpoint Advisor Group’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.

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