Robert B. Gillam increased its stake in Cisco Systems Inc (CSCO) by 74.35% based on its latest 2016Q3 regulatory filing with the SEC. Mckinley Capital Management Inc bought 429,235 shares as the company’s stock rose 10.14% with the market. The hedge fund run by Robert B. Gillam held 1.01M shares of the technology company at the end of 2016Q3, valued at $28.94M, up from 577,340 at the end of the previous reported quarter. Mckinley Capital Management Inc who had been investing in Cisco Systems Inc for a number of months, seems to be bullish on the $152.15B market cap company. The stock is down 0.89% or $0.27 hitting $30.11, despite the positive news. About 9.06M shares traded hands. Cisco Systems, Inc. (NASDAQ:CSCO) has risen 4.51% since June 7, 2016 and is uptrending. It has underperformed by 2.92% the S&P500.
Mckinley Capital Management Inc, which manages about $8.13B and $1.75B US Long portfolio, decreased its stake in Molson Coors Brewing Company (NYSE:TAP) by 55,276 shares to 202,783 shares, valued at $15.44M in 2016Q3, according to the filing. It also reduced its holding in Starbucks Corp (NASDAQ:SBUX) by 108,246 shares in the quarter, leaving it with 64,501 shares, and cut its stake in Netease Inc (NASDAQ:NTES).
The McKinley Capital Management firm of Robert B. Gillam which also refers itself as the “global growth specialist” has it’s headquarter in Anchorage AK. Mckinley Capital Management Inc is a Unknown-based hedge fund that was founded by Robert B. Gillam. It had more than $8.13 billion assets under management in April, 2014. This fund invests only a small percentage of its assets in equities and options. Taken from Mckinley Capital Management latest Adv, the fund reported to have 69 full and part-time employees. Among which 25 performing investment advisory and research functions. The hedge fund had more than 400 clients.
Insitutional Activity: The institutional sentiment is 1.09 in Q3 2016. Its the same as in 2016Q2. The ratio is without change, as 51 funds sold all CSCO shares owned while 644 reduced positions. only 144 funds bought stakes while 617 increased positions. They now own 3.58 billion shares or 0.04% more from 3.58 billion shares in 2016Q2. Park Avenue Secs Ltd Llc accumulated 0.27% or 14,474 shares. Hirtle Callaghan & Ltd Limited Liability Company, a Pennsylvania-based fund reported 16,200 shares. Moreover, Insight 2811 has 0.74% invested in Cisco Systems, Inc. (NASDAQ:CSCO) for 37,246 shares. Lvm Capital Mgmt Ltd Mi owns 437,985 shares or 3.51% of their US portfolio. Koshinski Asset Management Incorporated holds 0% or 36,792 shares in its portfolio. Warren Averett Asset Mngmt Ltd Company holds 9,889 shares or 0.13% of its portfolio. Comerica Secs, a Michigan-based fund reported 20,818 shares. Marshwinds Advisory accumulated 117,648 shares or 1.82% of the stock. The Iowa-based Hills Bancshares And Tru Communications has invested 0.09% in Cisco Systems, Inc. (NASDAQ:CSCO). Mitchell Sinkler & Starr Pa reported 16,601 shares or 0.83% of all its holdings. Employees Retirement Sys Of Texas has invested 0.68% of its portfolio in Cisco Systems, Inc. (NASDAQ:CSCO). Stuyvesant Capital Management accumulated 3.49% or 47,331 shares. Guardian Invest has 26,500 shares for 0.85% of their US portfolio. Edinburgh Prtnrs accumulated 1.40 million shares or 8.28% of the stock. Canada Pension Plan Inv Board has invested 0.71% of its portfolio in Cisco Systems, Inc. (NASDAQ:CSCO).
Insider Transactions: Since July 20, 2016, the stock had 0 insider buys, and 17 selling transactions for $39.59 million net activity. On Monday, November 7 HALLA BRIAN sold $465,000 worth of the stock or 15,000 shares. Walker Karen sold $54,525 worth of stock. Shares for $4.61M were sold by Robbins Charles. Shares for $468,788 were sold by HENNESSY JOHN L. 15,000 Cisco Systems, Inc. (NASDAQ:CSCO) shares with value of $468,785 were sold by BARTZ CAROL. 62,910 shares with value of $1.98M were sold by CHANDLER MARK D on Wednesday, September 21. $463,655 worth of Cisco Systems, Inc. (NASDAQ:CSCO) shares were sold by MCGEARY RODERICK C.
More notable recent Cisco Systems, Inc. (NASDAQ:CSCO) news were published by: Investorplace.com which released: “Why Cisco Systems, Inc. (CSCO) Stock Could Gain 30%” on January 09, 2017, also Foxbusiness.com with their article: “Better Buy: Hewlett-Packard Enterprise Co vs. Cisco Systems, Inc” published on January 04, 2017, Investorplace.com published: “Why Cisco Systems, Inc. (CSCO) Stock Won’t Be Growing Anytime Soon” on January 03, 2017. More interesting news about Cisco Systems, Inc. (NASDAQ:CSCO) were released by: Investorplace.com and their article: “Should You Buy Cisco Systems, Inc. (CSCO) Stock? 3 Pros, 3 Cons” published on December 29, 2016 as well as Investorplace.com‘s news article titled: “Why Cisco Systems, Inc. (CSCO), Kroger Co (KR) and Valero Energy Corporation …” with publication date: January 04, 2017.
According to Zacks Investment Research, “Cisco Systems, Inc. is the worldwide leader in networking for the Internet. Cisco’s Internet Protocol-based networking solutions are the foundation of the Internet and most corporate, education, and government networks around the world. Cisco provides the broadest line of solutions for transporting data, voice and video within buildings, across campuses, or around the world.”
Cisco Systems, Inc. (NASDAQ:CSCO) Ratings Coverage
Out of 30 analysts covering Cisco Systems Inc. (NASDAQ:CSCO), 18 rate it a “Buy”, 1 “Sell”, while 11 “Hold”. This means 60% are positive. Cisco Systems Inc. has been the topic of 64 analyst reports since August 4, 2015 according to StockzIntelligence Inc. The firm has “Buy” rating by UBS given on Thursday, February 11. On Thursday, August 18 the stock rating was maintained by Goldman Sachs with “Neutral”. On Thursday, August 18 the stock rating was maintained by Morgan Stanley with “Equal-Weight”. Macquarie Research upgraded the stock to “Neutral” rating in Monday, February 8 report. The firm earned “Overweight” rating on Wednesday, January 13 by Pacific Crest. As per Wednesday, October 14, the company rating was initiated by Barclays Capital. The stock of Cisco Systems, Inc. (NASDAQ:CSCO) earned “Outperform” rating by Raymond James on Friday, September 23. The stock of Cisco Systems, Inc. (NASDAQ:CSCO) has “Outperform” rating given on Friday, February 12 by Oppenheimer. Morgan Stanley downgraded Cisco Systems, Inc. (NASDAQ:CSCO) on Monday, August 17 to “Equal Weight” rating. Jefferies maintained the shares of CSCO in a report on Thursday, August 13 with “Hold” rating.
CSCO Company Profile
Cisco Systems, Inc. (Cisco), incorporated on December 10, 1984, creates and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The Firm operates through three geographic divisions: Americas; Europe, the Middle East, and Africa (EMEA), and Asia Pacific, Japan and China (APJC). The Firm groups its products and technologies into the various categories, such as Switching; Next-Generation Network (NGN) Routing; Collaboration; Data Center; Wireless; Service Provider Video; Security, and Other Products. In addition to its product offerings, the Company provides a range of service offerings, including technical support services and advanced services. The Firm delivers its technology and services to its clients as solutions for their priorities, including cloud, video, mobility, security, collaboration and analytics. The Firm helps its clients build networks and automate, orchestrate, integrate and digitize information technology (IT) services and products. It serves customers, including businesses of all sizes, public institutions, governments and service providers.
Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.