Arrowstreet Capital Limited Partnership Lowers stake in Cisco Systems (CSCO)

Cisco Systems (CSCO) : Arrowstreet Capital Limited Partnership reduced its stake in Cisco Systems by 17.04% during the most recent quarter end. The investment management company now holds a total of 9,871,134 shares of Cisco Systems which is valued at $309,657,474 after selling 2,027,677 shares in Cisco Systems , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Cisco Systems makes up approximately 1.03% of Arrowstreet Capital Limited Partnership’s portfolio.

Other Hedge Funds, Including , Apg Asset Management N.v. boosted its stake in CSCO in the latest quarter, The investment management firm added 5,133,977 additional shares and now holds a total of 13,131,236 shares of Cisco Systems which is valued at $400,240,073. Cisco Systems makes up approx 0.73% of Apg Asset Management N.v.’s portfolio.Meag Munich Ergo Kapitalanlagegesellschaft Mbh boosted its stake in CSCO in the latest quarter, The investment management firm added 620,787 additional shares and now holds a total of 810,373 shares of Cisco Systems which is valued at $24,862,244. Cisco Systems makes up approx 1.23% of Meag Munich Ergo Kapitalanlagegesellschaft Mbh’s portfolio.American Investment Services reduced its stake in CSCO by selling 1,972 shares or 2.15% in the most recent quarter. The Hedge Fund company now holds 89,747 shares of CSCO which is valued at $2,753,438. Cisco Systems makes up approx 1.18% of American Investment Services’s portfolio.

Cisco Systems opened for trading at $30.11 and hit $30.36 on the upside on Monday, eventually ending the session at $30.18, with a gain of 0.43% or 0.13 points. The heightened volatility saw the trading volume jump to 3,87,48,563 shares. Company has a market cap of $151,693 M.

On the company’s financial health, Cisco Systems reported $0.61 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Nov 16, 2016. Analyst had a consensus of $0.59. The company had revenue of $12352.00 million for the quarter, compared to analysts expectations of $12331.53 million. The company’s revenue was down -2.6 % 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. Stifel Resumed Cisco Systems on Nov 18, 2016 to “Hold”, Price Target of the shares are set at $34.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 .

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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