Thrivent Financial for Lutherans Has $169.34 Million Position in Cisco Systems, Inc. (NASDAQ:CSCO)

Thrivent Financial for Lutherans trimmed its holdings in Cisco Systems, Inc. (NASDAQ:CSCO) by 0.1% during the third quarter, Holdings Channel reports. The firm owned 3,181,938 shares of the network equipment provider’s stock after selling 1,945 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Cisco Systems were worth $169,343,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in CSCO. Summit Securities Group LLC bought a new position in shares of Cisco Systems during the 2nd quarter worth approximately $25,000. West Financial Advisors LLC lifted its position in shares of Cisco Systems by 116.6% during the 3rd quarter. West Financial Advisors LLC now owns 574 shares of the network equipment provider’s stock valued at $31,000 after acquiring an additional 309 shares during the period. Quarry LP lifted its position in shares of Cisco Systems by 222.4% during the 2nd quarter. Quarry LP now owns 661 shares of the network equipment provider’s stock valued at $31,000 after acquiring an additional 456 shares during the period. Hobbs Group Advisors LLC bought a new position in Cisco Systems during the second quarter worth $36,000. Finally, Iron Horse Wealth Management LLC grew its holdings in Cisco Systems by 617.7% in the second quarter. Iron Horse Wealth Management LLC now owns 890 shares of the network equipment provider’s stock worth $42,000 after purchasing an additional 766 shares during the period. Institutional investors own 73.33% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Thimaya K. Subaiya sold 1,328 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $48.92, for a total transaction of $64,965.76. Following the sale, the executive vice president now directly owns 132,910 shares in the company, valued at approximately $6,501,957.20. This represents a 0.99 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Maria Victoria Wong sold 3,379 shares of Cisco Systems stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $50.36, for a total transaction of $170,166.44. Following the completion of the transaction, the senior vice president now owns 47,182 shares of the company’s stock, valued at $2,376,085.52. This represents a 6.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 35,924 shares of company stock worth $1,798,131 over the last quarter. 0.01% of the stock is currently owned by company insiders.

Cisco Systems Stock Performance

Shares of CSCO stock opened at $57.46 on Friday. Cisco Systems, Inc. has a 52 week low of $44.50 and a 52 week high of $59.38. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.83 and a current ratio of 0.88. The firm’s 50-day simple moving average is $54.18 and its two-hundred day simple moving average is $49.78. The firm has a market cap of $229.31 billion, a price-to-earnings ratio of 24.66, a P/E/G ratio of 4.76 and a beta of 0.83.

Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, August 14th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.02. The firm had revenue of $13.64 billion for the quarter, compared to analyst estimates of $13.53 billion. Cisco Systems had a return on equity of 25.70% and a net margin of 17.73%. The business’s revenue was down 10.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.01 earnings per share. As a group, equities analysts forecast that Cisco Systems, Inc. will post 2.89 earnings per share for the current year.

Cisco Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 22nd. Shareholders of record on Friday, January 3rd will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.78%. The ex-dividend date of this dividend is Friday, January 3rd. Cisco Systems’s dividend payout ratio (DPR) is presently 68.67%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on CSCO shares. Evercore ISI increased their price objective on shares of Cisco Systems from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Friday, September 20th. Bank of America increased their price target on Cisco Systems from $60.00 to $72.00 and gave the stock a “buy” rating in a report on Thursday. Rosenblatt Securities raised their price objective on Cisco Systems from $56.00 to $58.00 and gave the company a “neutral” rating in a research note on Thursday, August 15th. Deutsche Bank Aktiengesellschaft upped their target price on Cisco Systems from $52.00 to $53.00 and gave the stock a “hold” rating in a research report on Thursday, August 15th. Finally, UBS Group lifted their price target on shares of Cisco Systems from $55.00 to $62.00 and gave the company a “neutral” rating in a research report on Thursday. Eleven research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $59.42.

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 and controllers; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.