AMF Tjanstepension 13F: Adds $20M to Cisco Systems (CSCO) Stake
Key Points
- AMF Tjanstepension increased its Cisco Systems, Inc. stake by 22.5% in a Form 13F filing on October 22, 2026, adding 189,002 shares to finish with 1,028,135 shares worth about $110.7 million.
- Cisco Systems, Inc. recently traded around $105.70, sitting below its 50-day moving average of $110.75 but above its 200-day moving average of $100.01.
- Four company insiders sold shares between September 8 and September 14, 2026, while analysts maintain a consensus buy rating with a mean price target of $136.16.
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AMF Tjanstepension boosted its stake in Cisco Systems, Inc. (NasdaqGS: CSCO) during the quarter, according to a Form 13F filing filed with the SEC on October 22, 2026. The filing shows the firm purchased an additional 189,002 shares, resulting in a 22.5% increase from its previous holding.
CSCO
Cisco Systems, Inc.
What Changed in AMF Tjanstepension's Cisco Systems Position
The fund grew its position from 839,133 shares up to 1,028,135 shares by the end of the period. Based on the data in the filing, that final block of shares was valued at approximately $110.7 million.
Cisco Systems, Inc. Stock Down 0.9%
Cisco shares recently traded around $105.70. The stock sits about 4.6% below its 50-day moving average of $110.75 and about 5.7% above its 200-day moving average of $100.01. Shares have traded in a 52-week range between $70.06 and $130.37, leaving the recent price about 18.9% below the 52-week high.
Recent Earnings
Cisco reported trailing twelve-month revenue of $63.3 billion alongside earnings of $3.31 per share. The company posted a net profit margin of 21.0% and a return on equity of 27.3%. Its revenue grew at a year-over-year rate of 17.6%. The company is scheduled to report its next round of earnings on November 12, 2026.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
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Forward outlook
11 analysts raised price targets.
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EPS & revenue
EPS met estimates. Revenue beat estimates by 2.7%.
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Profit surprise
EBITDA missed by 24 percent. Operating income missed by 58 percent.
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Pre-earnings setup
Expectations were about average.
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Analyst signal
1 upgrade, 11 target raises.
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Earnings quality
Gross margin down 1.9 points. Operating margin up 2.4 points. Positive free cash flow.
Earnings Call Summary
Cisco delivered record 15.8 billion dollar revenue in the quarter, up 10 percent year over year, with networking revenue surging 21 percent driven by AI infrastructure demand and campus switching upgrades. The company shipped its millionth Silicon One chip, unveiled its new 102.4 terabit G300 processor, and expects strong AI orders exceeding 5 billion dollars for the year, though security revenue declined 4 percent due to Splunk transition to cloud subscriptions. Strong product order growth of 18 percent, especially from hyperscalers up 65 percent, shows broad momentum despite gross margin compression from memory cost inflation.
Guidance Cisco guided for full-year revenue of about 61.5 billion dollars and earnings per share of 4.15 dollars, putting the company on track for its strongest year. The company also raised its AI infrastructure order target to over 5 billion dollars for fiscal 2026, expecting to recognize more than 3 billion dollars in AI revenue.
Fine but not compelling. Acceptable results that likely do not create a meaningful forward reset.
Dividend
The company pays an annual dividend rate of $1.68 per share, which gives it a dividend yield of 1.57%. That payout takes up 49.9% of the company's earnings based on its payout ratio.
Insider Buying and Selling at Cisco Systems, Inc.
Company insiders completed four separate sales of stock during September 2026. Nichlas A Fink sold 2,274 shares on September 8 at an average price of $109.36, totaling $248,685. Chief Financial Officer Mark Patterson sold 1,795 shares on September 11 at $108.87 per share for a total of $195,422. On September 14, Thimaya K Subaiya sold 312 shares at $110.18 for $34,376, and Oliver Tuszik sold 680 shares also at $110.18 for $74,922. None of these transactions were noted as being made under a pre-arranged Rule 10b5-1 trading plan.
Analysts Set New Price Targets
Wall Street firms adjusted their views on the stock across August and September 2026. On August 13, UBS maintained its buy rating and raised its price target from $132.00 to $138.00. The following day, HSBC downgraded the stock to a hold rating and cut its target from $137.00 to $120.00. Deutsche Bank initiated coverage on September 1 with a buy rating and a $135.00 price target. Piper Sandler maintained a neutral rating on September 22 while lowering its target from $132.00 to $125.00. Finally, Bernstein initiated coverage on September 30 with a market perform rating and a $110.00 price target. Overall, the stock holds a consensus buy rating from 25 analysts, with a mean price target of $136.16.
About Cisco Systems
Headquartered in San Jose, California, Cisco Systems designs and sells hardware, software, and services connected to internet infrastructure and networking security. The company serves enterprise customers across the Americas, Europe, the Middle East, Africa, and Asia. Its technology forms a core backbone for modern corporate networks and cloud connectivity.
Bottom Line
Investors are keeping an eye on Cisco ahead of its upcoming earnings release scheduled for November 12, 2026. The stock continues to trade below its average analyst price target while drawing steady institutional interest.
Related Filing Alerts
Source: AMF Tjanstepension's 13F filing on $CSCO (Oct 22, 2026). 13F filings show holdings as of the end of the reporting quarter and may not reflect the fund's current position. Written by software, not financial advice. How we make alerts