5 Best Dividend Stocks on Robinhood

In this article, we discuss 5 best dividend stocks on Robinhood. If you want to read about some more dividend stocks on Robinhood, go directly to 10 Best Dividend Stocks on Robinhood.

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

Number of Hedge Fund Holders: 63  

Dividend Yield as of October 20: 3.63%     

Cisco Systems, Inc. (NASDAQ:CSCO) designs, manufactures, and sells Internet Protocol based networking products related to the communications and information technology industry. It is one of the best dividend stocks to invest in. On October 18, IT professional resourcing and project service provider, Experis, and Cisco Systems announced that they will work to train and upskill people around the globe with in-demand IT skills to help them secure employment. 

On August 31, investment advisory KGI Securities upgraded Cisco Systems, Inc. (NASDAQ:CSCO) to Outperform from Neutral with a $53 price target. Analyst Jackson Chiang issued the ratings update. 

At the end of the second quarter of 2022, 63 hedge funds in the database of Insider Monkey held stakes worth $1.9 billion in Cisco Systems, Inc. (NASDAQ:CSCO), compared to 66 in the previous quarter worth $1.7 billion.

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.”