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GABELLI & Co heavily invested in Cisco Systems, buying more shares despite the company missing earnings estimates.
GABELLI & Co Investment Advisers Inc. significantly increased its stake in Cisco Systems by 266.7%, now owning 16,500 shares valued at $977,000.
Despite missing earnings estimates, Cisco reported $0.77 EPS and announced a quarterly dividend of $0.41, yielding 2.86%.
Analysts predict Cisco will post 3.04 EPS for the year.
The company’s stock is held at a median target price of $65.74.
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GABELLI & Co invirtió fuertemente en Cisco Systems, comprando más acciones a pesar de que la compañía carecía de estimaciones de ganancias.