Cisco’s outstanding shares (CSCO) currently stand at 4.23 billion, up from 7.04 billion at the end of September. In 2021, Cisco plans to return at least 50% of its free cash flow to shareholders in the form of $ 6 billion in dividends and $ 6 billion to $ 10 billion in share buybacks.
The company has $ 10 billion remaining on its authorized buyouts, while an additional $ 6 billion is spent on research and development. However, Cisco’s revenue growth is sluggish, so one has to question the value of these expenses.
Dan Weiskopf is co-portfolio manager of the Amplify Transformational Data Sharing ETF and a member of the investment committee of Toroso Investments, an exchange-traded fund asset.
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