Billionaire Ken Griffin’s Top 5 High Dividend Stock Picks

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

Citadel Investment Group’s Stake Value: $223,259,001
Dividend Yield as of February 17: 3.08%

Cisco Systems, Inc. (NASDAQ:CSCO) is an American multinational digital communications company, based in California. In February, Loop Capital raised its price target on the stock to $66 with a Buy rating on the shares, appreciating the company’s recent quarterly earnings. The firm also highlighted the company’s ‘decade-high’ revenue growth.

Cisco Systems, Inc. (NASDAQ:CSCO) is one of the top high-dividend stock picks of billionaire Ken Griffin as the hedge fund owned over 4.6 million shares in the company, worth $223.2 million. The company represented 0.05% of Citadel’s 13F portfolio.

On February 15, Cisco Systems, Inc. (NASDAQ:CSCO) hiked its quarterly dividend by 1 cent to $0.39 per share. Through this increase, the company took its dividend growth streak to 12 years. As of February 17, the stock has a dividend yield of 3.08%.

Cisco Systems, Inc. (NASDAQ:CSCO) was a part of 68 hedge fund portfolios in Q3 2022, compared with 63 in the previous quarter, as per Insider Monkey’s database. The stakes owned by these hedge funds have a total value of over $2.78 billion.

Carillon Tower Advisers mentioned Cisco Systems, Inc. (NASDAQ:CSCO) in its Q1 2022 investor letter. Here is what the firm has to say:

“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.”