After the last earnings release, Cisco shares fell about 3.76%.

The majority of analysts believe Cisco continues to offer a buying opportunity, with 23 of the 42 analysts covering the company giving a buy recommendation. Fifteen are taking a more cautious approach, and rate it a hold. As of the last update I have, four analysts recommend selling some or all holdings. New investors from a year ago are happy, and analysts rating this company a buy have called it correctly. The shares have moved higher 11% over the last 52 weeks, compared to a 20.3% return for SPDR S&P 500 ETF (SPY). Analysts are calling for a price target of $23.84.

Cisco is one of my four technology dividend kings. The list of royalty includes Microsoft (MSFT), Intel (INTC) and AT&T (T). I love buying these dividend winners on dips. I'm especially bullish with Microsoft and have been for over a year, compared to my bearish outlook for Amazon (AMZN).

If you intend to buy-and-hold beyond a year, the recent decline from the $26 highs offers an attractive entry. Cisco pays an annual dividend of 76 cents for an effective yield of about 3.3%.

The company began paying a quarterly dividend in 2011 at 6 cents per share. Since that time, the rate has rocketed higher to almost three times as much. Few large companies, if any, have increased as fast.

I consider short sellers the smart money on Wall Street. They never sleep, and they are perpetually seeking out any market inefficiency or business flaws to exploit. They're not finding an opportunity with Cisco and only 1.5% of the shares are shorted. That's about as convincing as an investor will find.

I like Cisco, and I especially like the low forward earnings multiple as a long-term holding.

CSCO Revenue (Quarterly) Chart

At the time of publication, Weinstein had no positions in securities mentioned.

Follow @RobertWeinstein

This article represents the opinion of a contributor and not necessarily that of TheStreet or its editorial staff.

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