Crestpoint Capital Management buys $2,266,518 stake in Cisco Systems (CSCO)

Cisco Systems (CSCO) : Crestpoint Capital Management scooped up 1,900 additional shares in Cisco Systems during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 17, 2016. The investment management firm now holds a total of 75,100 shares of Cisco Systems which is valued at $2,266,518.Cisco Systems makes up approximately 1.18% of Crestpoint Capital Management’s portfolio.

Other Hedge Funds, Including , Eastern Bank reduced its stake in CSCO by selling 1,411 shares or 1.21% in the most recent quarter. The Hedge Fund company now holds 115,060 shares of CSCO which is valued at $3,472,511. Cisco Systems makes up approx 0.28% of Eastern Bank’s portfolio.Canal Capital Management boosted its stake in CSCO in the latest quarter, The investment management firm added 242 additional shares and now holds a total of 65,900 shares of Cisco Systems which is valued at $2,073,873. Cisco Systems makes up approx 1.93% of Canal Capital Management’s portfolio.First Financial Bank N.a. – Trust Division boosted its stake in CSCO in the latest quarter, The investment management firm added 143,112 additional shares and now holds a total of 201,438 shares of Cisco Systems which is valued at $6,339,254. Cisco Systems makes up approx 1.18% of First Financial Bank N.a. – Trust Division’s portfolio. Maple Securities Usa Inc sold out all of its stake in CSCO during the most recent quarter. The investment firm sold 37,383 shares of CSCO which is valued $1,176,443.

Cisco Systems opened for trading at $30.35 and hit $30.55 on the upside on Friday, eventually ending the session at $30.18, with a gain of 0.03% or 0.01 points. The heightened volatility saw the trading volume jump to 2,05,45,127 shares. Company has a market cap of $151,333 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 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 .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 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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