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flag GABELLI & Co heavily invested in Cisco Systems, buying more shares despite the company missing earnings estimates.

flag GABELLI & Co Investment Advisers Inc. significantly increased its stake in Cisco Systems by 266.7%, now owning 16,500 shares valued at $977,000. flag Despite missing earnings estimates, Cisco reported $0.77 EPS and announced a quarterly dividend of $0.41, yielding 2.86%. flag Analysts predict Cisco will post 3.04 EPS for the year. flag The company’s stock is held at a median target price of $65.74.

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