5 Communication Services Stocks that Pay Dividends

2. Cogent Communications Holdings, Inc. (NASDAQ: CCOI)

Number of Hedge Fund Holders: 18
Dividend Yield: 3.8%

Cogent Communications Holdings, Inc. (NASDAQ: CCOI) is a provider of high-speed internet access, private network, and data center colocation space services. The company operates mainly in North America, Europe, Asia, South America, Australia, and Africa, and ranks 2nd on our list of communication services stocks that pay dividends.

MoffettNathanson analyst Nick Del Deo this June raised his price target on shares of Cogent Communications Holdings, Inc. (NASDAQ: CCOI) from $70 to $84. The analyst also reiterating a Buy rating on the stock.

In the second quarter of 2021, Cogent Communications Holdings, Inc. (NASDAQ: CCOI) had an EPS of -$0.05, missing estimates by $0.27. The company’s revenue was $147.88 million, up 4.89% year over year and beating estimates by $1.09 million. Cogent Communications Holdings, Inc. (NASDAQ: CCOI) has gained 21.04% in the past 6 months and 21.87% year to date.

By the end of the first quarter of 2021, 18 hedge funds out of the 866 tracked by Insider Monkey held stakes in Cogent Communications Holdings, Inc. (NASDAQ: CCOI) worth roughly $319 million. This is compared to 23 hedge funds in the previous quarter with a total stake value of approximately $357 million.