Thrivent Financial for Lutherans Has $346.22 Million Stake in Cisco Systems, Inc. (NASDAQ:CSCO)

Thrivent Financial for Lutherans grew its stake in Cisco Systems, Inc. (NASDAQ:CSCO) by 5.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,624,595 shares of the network equipment provider’s stock after purchasing an additional 334,136 shares during the period. Cisco Systems makes up about 0.8% of Thrivent Financial for Lutherans’ portfolio, making the stock its 7th biggest position. Thrivent Financial for Lutherans owned about 0.16% of Cisco Systems worth $346,216,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of CSCO. Steward Financial Group LLC bought a new stake in shares of Cisco Systems during the 4th quarter worth approximately $26,000. Altshuler Shaham Ltd bought a new stake in shares of Cisco Systems during the 1st quarter worth approximately $32,000. Carmel Capital Partners LLC bought a new stake in shares of Cisco Systems during the 1st quarter worth approximately $35,000. Tucker Asset Management LLC bought a new stake in Cisco Systems during the 1st quarter valued at about $35,000. Finally, Fortis Capital Advisors LLC bought a new stake in Cisco Systems during the 4th quarter valued at about $34,000. 72.21% of the stock is owned by institutional investors.

Cisco Systems Trading Down 0.8 %

Shares of NASDAQ:CSCO opened at $56.39 on Wednesday. The business’s 50-day moving average is $53.90 and its 200 day moving average is $51.01. Cisco Systems, Inc. has a 1 year low of $38.60 and a 1 year high of $58.19. The firm has a market capitalization of $229.79 billion, a P/E ratio of 18.37, a P/E/G ratio of 2.52 and a beta of 0.97. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.38 and a quick ratio of 1.27.

Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, August 16th. The network equipment provider reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.08. Cisco Systems had a return on equity of 33.42% and a net margin of 22.13%. The company had revenue of $15.20 billion for the quarter, compared to analyst estimates of $15.05 billion. During the same period in the prior year, the company posted $0.74 EPS. The firm’s quarterly revenue was up 16.0% compared to the same quarter last year. On average, research analysts predict that Cisco Systems, Inc. will post 3.58 earnings per share for the current fiscal year.

Cisco Systems Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 25th. Shareholders of record on Wednesday, October 4th will be paid a dividend of $0.39 per share. The ex-dividend date of this dividend is Tuesday, October 3rd. This represents a $1.56 dividend on an annualized basis and a yield of 2.77%. Cisco Systems’s payout ratio is 50.81%.

Analyst Upgrades and Downgrades

CSCO has been the subject of a number of research analyst reports. Citigroup lifted their price objective on shares of Cisco Systems from $54.00 to $55.00 and gave the company a “neutral” rating in a report on Thursday, August 17th. Bank of America lowered Cisco Systems from a “buy” rating to a “neutral” rating and set a $56.00 target price for the company. in a research report on Wednesday, July 12th. BNP Paribas assumed coverage on Cisco Systems in a research report on Thursday, July 20th. They set an “underperform” rating and a $45.00 target price for the company. Barclays lifted their target price on Cisco Systems from $51.00 to $53.00 and gave the company an “equal weight” rating in a research report on Thursday, August 17th. Finally, UBS Group lifted their target price on Cisco Systems from $51.00 to $55.00 and gave the company a “neutral” rating in a research report on Thursday, August 17th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $59.23.

Insider Buying and Selling at Cisco Systems

In other news, CFO Richard Scott Herren sold 2,579 shares of the stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $50.65, for a total value of $130,626.35. Following the transaction, the chief financial officer now directly owns 281,493 shares of the company’s stock, valued at $14,257,620.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Cisco Systems news, SVP Maria Victoria Wong sold 6,186 shares of the stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $54.65, for a total transaction of $338,064.90. Following the sale, the senior vice president now directly owns 64,493 shares of the company’s stock, valued at approximately $3,524,542.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Richard Scott Herren sold 2,579 shares of the business’s stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $50.65, for a total value of $130,626.35. Following the completion of the transaction, the chief financial officer now directly owns 281,493 shares of the company’s stock, valued at approximately $14,257,620.45. The disclosure for this sale can be found here. In the last quarter, insiders have sold 51,210 shares of company stock worth $2,767,284. 0.02% of the stock is owned by corporate insiders.

Cisco Systems Company Profile

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. The company also offers switching portfolio encompasses campus switching as well as data center switching; enterprise routing portfolio interconnects public and private wireline and mobile networks, delivering highly secure, and reliable connectivity to campus, data center and branch networks; wireless products include wireless access points that are standalone, controller appliance-based, switch-converged, and Meraki cloud-managed offerings; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.