In this article, we discuss the 5 best stocks for retirement. If you want to read our detailed analysis of retirement stocks and go directly and see Retirement Stock Portfolio: 10 Safe Tech Stocks To Consider.
5. Cisco Systems, Inc. (NASDAQ:CSCO)
Number of Hedge Fund Holders: 60
Cisco Systems, Inc. (NASDAQ:CSCO) ranks fifth on our list of the best stocks for retirement. An American multinational technology company reported solid fiscal Q4 results, with EPS beating the market estimates by $0.01 at $0.84. Cisco Systems, Inc. (NASDAQ:CSCO) reported revenue of $13.13 billion, showcasing an 8.1% year-over-year growth.
Since the beginning of the year, Cisco Systems, Inc. (NASDAQ:CSCO) delivered a 26.9% return to shareholders, while the stock gained 39.9% in the past year. Over the years, the stock has generated profitable results, soaring by 84.9% in the past five years. Cisco Systems, Inc. (NASDAQ:CSCO) pays an annual dividend of $1.48 per share, yielding 2.65%. The company has increased its dividend by 26.55% in the past three years, with its dividend payout ratio of 51.2%.
In September, Fahad Najam of MKM Partners raised the firm’s price target on Cisco Systems, Inc. (NASDAQ:CSCO) to $69, while keeping a Buy rating on the shares. As of Q2, 60 hedge funds are reported having stakes in the company, up from 59 in the previous quarter. The total value of these stakes is over $4.2 billion.
“Also in IT, we added Cisco Systems, which provides IT and networking services in the form of network security, software development and cloud computing. Cisco continues to derive over 50% of its sales from on-premise deployments of its products of enterprise and small and midsize customers, while recurring revenues from software are becoming a larger part of the mix. Return-to-office enterprise spending should offer upside to its core campus business. Cisco was an early technology leader in sustainability over two decades ago, through its Internet-connecting capabilities which supported live concerts in partnership with the United Nations Development Program to raise awareness and funds to fight poverty. Cisco has very strong environmental standards (including driving lower energy consumption in IT departments through new product innovations and a longstanding goal to reduce emissions and reliance on non-renewable energy sources). Its data privacy and supply chain management policies are best in class.”