5 Best S&P 500 Dividend Stocks to Buy Right Now

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

Number of Hedge Fund Holders: 97

On June 12, Morgan Stanley raised its price recommendation on Cisco Systems, Inc. (NASDAQ:CSCO) to $130 from $120. It reiterated an Overweight rating on the shares. The firm said that growing inference workloads and increasing CPU intensity are driving a new wave of front-end infrastructure upgrades. Against that backdrop, Morgan Stanley views Cisco and Arista Networks (ANET) as its preferred ways to benefit from what it considers “an underappreciated front-end networking refresh cycle.”

Earlier, on June 8, BofA raised its price goal on Cisco to $150 from $135. It kept a Buy rating on the stock. The firm also increased price targets for Arista Networks and Extreme Networks (EXTR) following a series of networking-focused sessions held during its Global Technology Conference in San Francisco.

Cisco Systems, Inc. (NASDAQ:CSCO) develops and sells a broad range of technologies that support the internet. The company is integrating its product portfolio across networking, security, collaboration, applications, and cloud services.