5 Best Video Conferencing Stocks To Buy

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

Number of Hedge Fund Holders as of Q2, 2022: 63

Cisco Systems, Inc. (NASDAQ:CSCO) is a communications products manufacturer and designer that sells its products all over the world. Cisco Systems, Inc. (NASDAQ:CSCO) is a giant as far as free cash flows are concerned. The company generated $13 billion in free cash flow in its fiscal year 2022, which will help it carry out its main growth plan of acquiring businesses to expand its brand and market position. Additionally, the company’s balance sheet is a fortress because it has $19 billion in cash, which is a lot more than its $10 billion in debt.

Cisco Systems, Inc. (NASDAQ:CSCO) currently pays a quarterly dividend of $0.38 per share for a dividend yield of 3.68%, as of October 18. The company has been raising its dividends consistently for the past 11 years. 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 the preceding quarter worth $1.7 billion.

In its Q1 2022 investor letter, Carillon Towers 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.”