Value Investor Joel Greenblatt’s Top 5 Dividend Picks

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

Gotham Asset Management’s Stake Value: $16.8 million
Dividend Yield as of February 15: 3.20%

Cisco Systems, Inc. (NASDAQ:CSCO) is an American multinational digital communications and software company, headquartered in California. The company is one of the top dividend stocks of value investor Joel Greenblatt as his hedge fund owned CSCO stakes worth nearly $16.8 million in Q4 2022. The company made up 0.47% of Gotham Asset Management’s portfolio.

Cisco Systems, Inc. (NASDAQ:CSCO) currently offers a quarterly dividend of $0.38 per share and has a dividend yield of 3.20%, as of February 15. In 2022, the company raised its payout for the 11th consecutive year.

In February, Evercore ISI added Cisco Systems, Inc. (NASDAQ:CSCO) to its “Tactical Outperform” list as the firm sees an upside potential in the company’s performance. The firm maintained an Outperform rating with a $58 price target on the stock.

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. Among these hedge funds, Two Sigma Advisors was the company’s leading stakeholder.

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.”