5 Best Dividend Leaders to Buy According to Hedge Funds

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

Number of Hedge Fund Holders: 68

Dividend Yield as of February 3: 3.10%

Cisco Systems, Inc. (NASDAQ:CSCO) is a California-based designs, manufactures, and sells networking products based on Internet Protocol technology, along with related products in the communications and IT sector. On January 17, Piper Sandler analyst James Fish raised the firm’s price target on Cisco Systems, Inc. (NASDAQ:CSCO) to $49 from $47 and kept a Neutral rating on the shares.  Ahead of the Q4 earnings, the analyst has made changes to his estimates and valuations for the cloud automation software industry.

Cisco Systems, Inc. (NASDAQ:CSCO) is one of the best dividend leaders to monitor. According to Insider Monkey’s Q3 data, 68 hedge funds were bullish on Cisco Systems, Inc. (NASDAQ:CSCO), compared to 63 funds in the prior quarter. John Overdeck and David Siegel’s Two Sigma Advisors is the biggest 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.”