5 Best Communication Services Stocks To Invest In

4. Cisco Systems, Inc. (NASDAQ:CSCO)

Number of Hedge Fund Holders: 68

Cisco Systems, Inc. (NASDAQ:CSCO) is a California-based company that designs, manufactures, and commercializes Internet Protocol-based networking products related to the communications and information technology industry in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. On December 8, Cisco Systems, Inc. (NASDAQ:CSCO) declared a $0.38 per share quarterly dividend, in line with previous. The dividend is payable on January 25, to shareholders of record on January 5. It is one of the premier communication stocks to invest in. 

On December 13, investment advisory Morgan Stanley raised the price target on Cisco Systems, Inc. (NASDAQ:CSCO) to $52 from $48 and kept an Equal Weight rating on the shares. Analyst Meta Marshall issued the ratings update. 

According to Insider Monkey’s data, 68 hedge funds were long Cisco Systems, Inc. (NASDAQ:CSCO) at the end of Q3 2022, compared to 63 funds in the prior quarter. John Overdeck and David Siegel’s Two Sigma Advisors is the largest stakeholder of the company, with 9.70 million shares worth $388 million. 

In its Q1 2022 investor letter, Carillon Tower Advisers, an asset management firm, highlighted a few stocks and Cisco Systems, Inc. (NASDAQ:CSCO) was one of them. Here is what the fund said:

“Cisco Systems (NASDAQ:CSCO) traded lower as investors weighed how supply chain concerns would impact sales growth. The company has been upgrading its switching and routing offerings, which should lead to strong demand as on-site locations upgrade infrastructure.”