Canandaigua National Bank Trust Co buys $1,892,355 stake in Cisco Systems (CSCO)

Cisco Systems (CSCO) : Canandaigua National Bank Trust Co scooped up 4,017 additional shares in Cisco Systems during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Jul 26, 2016. The investment management firm now holds a total of 61,520 shares of Cisco Systems which is valued at $1,892,355.Cisco Systems makes up approximately 0.54% of Canandaigua National Bank Trust Co’s portfolio.

Other Hedge Funds, Including , Strs Ohio reduced its stake in CSCO by selling 63,224 shares or 1.2% in the most recent quarter. The Hedge Fund company now holds 5,186,859 shares of CSCO which is valued at $159,547,783. Cisco Systems makes up approx 0.68% of Strs Ohio’s portfolio.Lowe Fs boosted its stake in CSCO in the latest quarter, The investment management firm added 116 additional shares and now holds a total of 186 shares of Cisco Systems which is valued at $5,697.Neville Rodie Shaw Inc reduced its stake in CSCO by selling 2,000 shares or 6.53% in the most recent quarter. The Hedge Fund company now holds 28,632 shares of CSCO which is valued at $851,802. Cisco Systems makes up approx 0.10% of Neville Rodie Shaw Inc’s portfolio.Douglass Winthrop Advisors boosted its stake in CSCO in the latest quarter, The investment management firm added 33,051 additional shares and now holds a total of 62,259 shares of Cisco Systems which is valued at $1,852,205. Cisco Systems makes up approx 0.14% of Douglass Winthrop Advisors’s portfolio.Mutual Of Omaha Bank Wealth Management reduced its stake in CSCO by selling 32,895 shares or 61.46% in the most recent quarter. The Hedge Fund company now holds 20,628 shares of CSCO which is valued at $613,683. Cisco Systems makes up approx 0.20% of Mutual Of Omaha Bank Wealth Management’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.

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