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Cisco Systems Inc (NAS:CSCO)
Shares Outstanding
5,156 Mil (As of Oct. 2014)

Shares outstanding are shares that have been authorized, issued, and purchased by investors and are held by them. Cisco Systems Inc's shares outstanding for the quarter that ended in Oct. 2014 was 5,156 Mil.

Cisco Systems Inc's quarterly shares outstanding declined from Jul. 2014 (5,191 Mil) to Oct. 2014 (5,156 Mil). It means Cisco Systems Inc bought back shares from Jul. 2014 to Oct. 2014 .

Cisco Systems Inc's annual shares outstanding declined from Jul. 2013 (5,380 Mil) to Jul. 2014 (5,281 Mil). It means Cisco Systems Inc bought back shares from Jul. 2013 to Jul. 2014 .


Definition

Shares outstanding are shares that have been authorized, issued, and purchased by investors and are held by them. They have voting rights and represent ownership in the corporation by the person that holds the shares. They should be distinguished from treasury shares, which are shares held by the corporation itself, having no exercisable rights.

Shares outstanding can be calculated as either basic or fully diluted. The fully diluted shares outstanding count includes diluting securities, such as options, warrants or convertibles.


Explanation

A company may buy back shares or issue shares in any fiscal period. If a company buys back shares, we should observe that the total number of shares decline. If the company issues new shares, the number of shares outstanding increases.

If a company buys back shares, we should also observe negative number for Net Issuance of Stock in its cash flow statement. If a company issues shares, we will observe positive number of Net Issuance of Stock.


Be Aware

Usually the presence of treasury shares and a history of buyback are good indicators that company has competitive advantage. But studies have shown that companies usually buy back at wrong time. Buying back shares below its intrinsic value increases value for remaining shareholders. Buying back overvalued shares destroys value for existing shareholders.


Related Terms

Net Issuance of Stock, Buy Back Rate


Historical Data

* All numbers are in millions except for per share data and ratio. All numbers are in their own currency.

Cisco Systems Inc Annual Data

Jul05Jul06Jul07Jul08Jul09Jul10Jul11Jul12Jul13Jul14
Shares Outstanding 6,6126,2726,2656,1635,8575,8485,5635,4045,3805,281

Cisco Systems Inc Quarterly Data

Jul12Oct12Jan13Apr13Jul13Oct13Jan14Apr14Jul14Oct14
Shares Outstanding 5,3625,3345,3575,3875,4375,4305,3275,1805,1915,156
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