MassMutual Reduces Cisco Stake by 5.4% in Q3 2024

MassMutual Private Wealth & Trust FSB reduced its stake in Cisco Systems, Inc. (NASDAQ: CSCO) by 5.4% during the third quarter of 2024. The institutional investor sold 27,611 shares, bringing its total holdings to 483,007 shares. Cisco now represents approximately 1.3% of MassMutual's portfolio, making it the 17th largest holding. The value of these holdings was $52,088,000 at the end of the quarter.

Other institutional investors have made adjustments to their Cisco holdings as well. Cozad Asset Management Inc. increased its stake by 0.3% in the first quarter, while Dogwood Wealth Management LLC boosted its holdings by 3.9% in the second quarter. August Group Capital Ltd raised its position by 2.0%, Financial Insights Inc. grew its stake by 1.5%, and CPA Asset Management Group LLC increased its holdings by 1.8% in the second quarter. Institutional investors collectively own 73.33% of Cisco's stock.

Insider activity at Cisco has also been notable. EVP Thimaya K. Subaiya sold 312 shares on September 14, 2024, at an average price of $110.18, totaling $34,376.16. EVP Deborah L. Stahlkopf sold 6,487 shares on August 14, 2024, at an average price of $111.53, totaling $723,495.11. Insiders sold 44,869 shares worth $5,005,620 in the last 90 days, with insiders owning 0.01% of the company's stock.

Analysts have mixed views on Cisco. Zacks Research upgraded the stock to “strong buy,” while Bernstein initiated coverage with a “market perform” rating. Piper Sandler lowered its price target to $125, citing cautious fiscal 2027 AI revenue outlook. The company has a consensus “Moderate Buy” rating and a consensus price target of $128.52. Cisco's stock opened at $112.20 on October 21, 2024, with a market capitalization of $442.36 billion.