Cisco Systems, Inc. (NASDAQ:CSCO)‘s stock had its “neutral” rating reaffirmed by stock analysts at Bank of America Corporation in a report issued on Friday. They presently have a $35.00 price objective on the network equipment provider’s stock. Bank of America Corporation’s price target would indicate a potential upside of 15.25% from the stock’s previous close.

A number of other research analysts have also recently weighed in on the stock. William Blair reaffirmed an “outperform” rating on shares of Cisco Systems in a report on Saturday. JMP Securities reaffirmed a “market perform” rating on shares of Cisco Systems in a report on Friday. Berenberg Bank set a $33.00 price objective on shares of Cisco Systems and gave the company a “hold” rating in a report on Thursday. Morgan Stanley reaffirmed an “overweight” rating and issued a $39.00 price objective on shares of Cisco Systems in a report on Thursday. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and issued a $36.00 price objective on shares of Cisco Systems in a report on Thursday. Fourteen investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $35.52.

Cisco Systems (CSCO) traded down 2.16% during trading on Friday, reaching $30.37. The company had a trading volume of 34,802,193 shares. The stock has a market capitalization of $151.64 billion, a P/E ratio of 15.98 and a beta of 1.24. The stock has a 50 day moving average of $31.48 and a 200-day moving average of $32.55. Cisco Systems has a 12-month low of $29.12 and a 12-month high of $34.60.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, August 16th. The network equipment provider reported $0.61 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.61. Cisco Systems had a net margin of 20.02% and a return on equity of 16.91%. The company had revenue of $12.13 billion during the quarter, compared to analysts’ expectations of $12.07 billion. During the same quarter in the previous year, the company earned $0.63 earnings per share. The firm’s revenue for the quarter was down 4.0% on a year-over-year basis. On average, analysts forecast that Cisco Systems will post $2.43 earnings per share for the current fiscal year.

ILLEGAL ACTIVITY WARNING: This piece of content was posted by American Banking News and is the sole property of of American Banking News. If you are viewing this piece of content on another publication, it was stolen and republished in violation of US & international copyright & trademark law. The original version of this piece of content can be viewed at https://www.americanbankingnews.com/2017/08/19/cisco-systems-csco-neutral-rating-reiterated-at-bank-of-america-corporation.html.

In related news, SVP Rebecca Jacoby sold 92,840 shares of the company’s stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $31.71, for a total transaction of $2,943,956.40. Following the sale, the senior vice president now directly owns 271,725 shares of the company’s stock, valued at approximately $8,616,399.75. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider John T. Chambers sold 295,537 shares of the company’s stock in a transaction that occurred on Wednesday, May 24th. The stock was sold at an average price of $31.52, for a total transaction of $9,315,326.24. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 396,179 shares of company stock worth $12,503,407. 0.11% of the stock is owned by insiders.

Large investors have recently made changes to their positions in the stock. VNBTrust National Association increased its stake in shares of Cisco Systems by 0.3% in the third quarter. VNBTrust National Association now owns 7,010 shares of the network equipment provider’s stock worth $222,000 after buying an additional 20 shares in the last quarter. Mercer Capital Advisers Inc. increased its stake in shares of Cisco Systems by 0.7% in the second quarter. Mercer Capital Advisers Inc. now owns 4,760 shares of the network equipment provider’s stock worth $137,000 after buying an additional 35 shares in the last quarter. Ironwood Investment Management LLC increased its stake in shares of Cisco Systems by 0.3% in the third quarter. Ironwood Investment Management LLC now owns 13,894 shares of the network equipment provider’s stock worth $441,000 after buying an additional 36 shares in the last quarter. Southeast Asset Advisors Inc. increased its stake in shares of Cisco Systems by 0.5% in the first quarter. Southeast Asset Advisors Inc. now owns 9,233 shares of the network equipment provider’s stock worth $312,000 after buying an additional 44 shares in the last quarter. Finally, Opes Advisors Inc increased its stake in shares of Cisco Systems by 0.6% in the second quarter. Opes Advisors Inc now owns 7,475 shares of the network equipment provider’s stock worth $236,000 after buying an additional 44 shares in the last quarter. 75.28% of the stock is currently owned by institutional investors.

Cisco Systems Company Profile

Cisco Systems, Inc designs and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The Company operates through three geographic segments: Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific, Japan and China (APJC).

Analyst Recommendations for Cisco Systems (NASDAQ:CSCO)

Receive News & Ratings for Cisco Systems Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cisco Systems Inc. and related companies with MarketBeat.com's FREE daily email newsletter.