Cisco Systems (CSCO) : Spinnaker Trust reduced its stake in Cisco Systems by 3.81% during the most recent quarter end. The investment management company now holds a total of 156,331 shares of Cisco Systems which is valued at $4,802,488 after selling 6,199 shares in Cisco Systems , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.Cisco Systems makes up approximately 0.66% of Spinnaker Trust’s portfolio.
Other Hedge Funds, Including , Everence Capital Management Inc boosted its stake in CSCO in the latest quarter, The investment management firm added 8,710 additional shares and now holds a total of 98,849 shares of Cisco Systems which is valued at $3,036,641. Cisco Systems makes up approx 0.90% of Everence Capital Management Inc’s portfolio.Canandaigua National Bank Trust Co boosted its stake in CSCO in the latest quarter, The investment management firm added 4,017 additional shares and now holds a total of 61,520 shares of Cisco Systems which is valued at $1,892,355. Cisco Systems makes up approx 0.54% of Canandaigua National Bank Trust Co’s portfolio.Cornerstone Advisors reduced its stake in CSCO by selling 5,811 shares or 50.33% in the most recent quarter. The Hedge Fund company now holds 5,735 shares of CSCO which is valued at $176,409. Cisco Systems makes up approx 0.17% of Cornerstone Advisors’s portfolio.Addison Capital Co reduced its stake in CSCO by selling 750 shares or 2.55% in the most recent quarter. The Hedge Fund company now holds 28,637 shares of CSCO which is valued at $879,442. Cisco Systems makes up approx 0.76% of Addison Capital Co’s portfolio.Pioneer Trust Bank N Aor boosted its stake in CSCO in the latest quarter, The investment management firm added 7,755 additional shares and now holds a total of 131,090 shares of Cisco Systems which is valued at $3,920,902. Cisco Systems makes up approx 2.31% of Pioneer Trust Bank N Aor’s portfolio.
Cisco Systems opened for trading at $30.78 and hit $30.91 on the upside on Thursday, eventually ending the session at $30.8, with a gain of 0.26% or 0.08 points. The heightened volatility saw the trading volume jump to 1,85,86,492 shares. Company has a market cap of $154,915 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.