5 Best Dividend Stocks According To Jim Cramer

In this article, we will take a look at the 5 best dividend stocks according to Jim Cramer. To see more such companies, go directly to 10 Best Dividend Stocks According To Jim Cramer.

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

Number of Hedge Fund Holders: 55

Jim Cramer recently said in a program that Cisco Systems, Inc. (NASDAQ:CSCO) is a Buy. He said that Cisco Systems, Inc. (NASDAQ:CSCO) was recently getting Sell ratings after the company bought Splunk since Splunk was the biggest competitor of Datadog. Cramer however said these concerns were unfounded. Cramer was referring to an overall skepticism in the industry around Cisco Systems, Inc. (NASDAQ:CSCO)’s deal to buy Splunk. For example, Needham analyst Alex Henderson said in a note that the acquisition of Splunk will not solve Cisco Systems, Inc. (NASDAQ:CSCO)’s problems. The analyst thinks Cisco Systems, Inc. (NASDAQ:CSCO) has a “poor” track record handling synergies in the past.

Cisco Systems, Inc. (NASDAQ:CSCO) stock has a dividend yield of 3%.

A total of 55 hedge funds out of the 910 funds tracked by Insider Monkey had stakes in Cisco Systems, Inc. (NASDAQ:CSCO). The most significant stake in Cisco Systems, Inc. (NASDAQ:CSCO) was owned by Cliff Asness’s AQR Capital Management which owns a $568 million stake in the company.

ClearBridge Large Cap Value Strategy made the following comment about Cisco Systems, Inc. (NASDAQ:CSCO) in its Q2 2023 investor letter:

“Cisco Systems, Inc. (NASDAQ:CSCO), which provides IT and networking services in the form of network security, software development and cloud computing, traded down as enterprise customers showed signs of tightening their IT spending budgets and news of cybersecurity concerns, even while it beat expectations and raised its full-year guidance. Concerns over increased competition and share loss in its core verticals led us to exit our position during the quarter as we made several moves to add to existing higher-conviction holdings or initiate new positions that we find more compelling in the long term.”