Is Cisco (CSCO) A Worthy Stock Investment?

Miller Howard Investments, an investment management firm, published its third-quarter 2021 investor letter – a copy of which can be downloaded here. A quarterly return of 3.5% (yield) was recorded by the fund for the third quarter of 2021, compared to the 1.5% for the S&P 500 for the same period. You can take a look at the fund’s top 5 holdings to have an idea about their best picks for 2021.

Miller Howard Investments, in its Q3 2021 investor letter, mentioned Cisco Systems, Inc. (NASDAQ: CSCO) and discussed its stance on the firm. Cisco Systems, Inc. is a San Jose, California-based networking hardware company with a $267.9 billion market capitalization. CSCO delivered a 41.97% return since the beginning of the year, while its 12-month returns are up by 42.32%. The stock closed at $63.53 per share on December 29, 2021.

Here is what Miller Howard Investments has to say about Cisco Systems, Inc.  in its Q3 2021 investor letter:

“Technology remains important in our portfolios, although the sector weights have come down over the past year. We now hold Cisco (CSCO), all of which have strong growth prospects, yet attractive valuations in our view. Unlike many younger tech companies, we believe our holdings should significantly benefit from an upturn in the economy.”

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Based on our calculations, Cisco Systems, Inc. (NASDAQ: CSCO) was not able to clinch a spot in our list of the 30 Most Popular Stocks Among Hedge Funds. CSCO was in 63 hedge fund portfolios at the end of the third quarter of 2021, compared to 60 funds in the previous quarter. Cisco Systems, Inc. (NASDAQ: CSCO) delivered a 14.43% return in the past 3 months.

Just this month, we published an article that involved CSCO in the 5 Tech Stocks to Buy According to Former VP Al Gore. You can find more than 100 investor letters from hedge funds and prominent investors on our hedge fund investor letters 2021 Q3 page.

Disclosure: None. This article is originally published at Insider Monkey.