What Made Artisan Partners Value Fund Sell Cisco Systems (CSCO)?

Artisan Partners, an investment management company, released its “Artisan Value Fund” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the fund outperformed the Russell 1000 Value Index. Its Investor Class fund ARTLX returned 14.04%, Advisor Class fund APDLX posted a return of 14.14%, and Institutional Class fund APHLX returned 14.10% in the quarter, compared to a 12.42% return for the benchmark index. Positive stock selection led to the outperformance of the fund in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2022.

Artisan Value Fund highlighted stocks like Cisco Systems, Inc. (NASDAQ:CSCO) in the Q4 2022 investor letter. Headquartered in San Jose, California, Cisco Systems, Inc. (NASDAQ:CSCO) is a technology company. On March 1, 2023, Cisco Systems, Inc. (NASDAQ:CSCO) stock closed at $48.34 per share. One-month return of Cisco Systems, Inc. (NASDAQ:CSCO) was -1.99%, and its shares lost 13.79% of their value over the last 52 weeks. Cisco Systems, Inc. (NASDAQ:CSCO) has a market capitalization of $197.992 billion.

Artisan Value Fund made the following comment about Cisco Systems, Inc. (NASDAQ:CSCO) in its Q4 2022 investor letter:

“We had one sale this quarter, exiting network equipment company Cisco Systems, Inc. (NASDAQ:CSCO). We chose to use the proceeds on more attractive value opportunities as Cisco’s growth has come in below what we had hoped for, and the company is increasingly looking at M&A to augment its growth rate.”

cisco, phone, voip, network, display, cord, corporate, media, business, illustrative, telephone, internet, cable, data, service, digital, word, editorial, technology, computer,

photostock77 / Shutterstock.com

Cisco Systems, Inc. (NASDAQ:CSCO) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 70 hedge fund portfolios held Cisco Systems, Inc. (NASDAQ:CSCO) at the end of the fourth quarter which was 68 in the previous quarter.

We discussed Cisco Systems, Inc. (NASDAQ:CSCO) in another article and shared the list of billionaire Ken Griffin’s top high-dividend stock picks. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.

Suggested Articles:

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