Ropes Wealth Advisors buys $3,663,087 stake in Cisco Systems (CSCO)

Cisco Systems (CSCO) : Ropes Wealth Advisors scooped up 23,492 additional shares in Cisco Systems during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 8, 2016. The investment management firm now holds a total of 118,355 shares of Cisco Systems which is valued at $3,663,087.Cisco Systems makes up approximately 1.25% of Ropes Wealth Advisors’s portfolio.

Other Hedge Funds, Including , Oppenheimer Co Inc boosted its stake in CSCO in the latest quarter, The investment management firm added 9,689 additional shares and now holds a total of 486,633 shares of Cisco Systems which is valued at $15,061,291. Cisco Systems makes up approx 0.43% of Oppenheimer Co Inc’s portfolio.Schaper Benz Wise Investment Counsel Incwi boosted its stake in CSCO in the latest quarter, The investment management firm added 3,032 additional shares and now holds a total of 475,321 shares of Cisco Systems which is valued at $14,601,861. Cisco Systems makes up approx 2.57% of Schaper Benz Wise Investment Counsel Incwi’s portfolio.Shelton Capital Management boosted its stake in CSCO in the latest quarter, The investment management firm added 4,228 additional shares and now holds a total of 369,049 shares of Cisco Systems which is valued at $11,337,185. Cisco Systems makes up approx 0.99% of Shelton Capital Management’s portfolio.Callahan Advisors boosted its stake in CSCO in the latest quarter, The investment management firm added 6,197 additional shares and now holds a total of 257,933 shares of Cisco Systems which is valued at $7,934,019. Cisco Systems makes up approx 2.05% of Callahan Advisors’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.

Cisco Systems opened for trading at $30.98 and hit $31.24 on the upside on Monday, eventually ending the session at $31.19, with a gain of 1.04% or 0.32 points. The heightened volatility saw the trading volume jump to 2,19,44,655 shares. Company has a market cap of $156,877 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.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *