E Portfolio Hi-Lites: March 2021

F5 Networks (FFIV) reported fiscal first quarter revenues increased nearly 10% to $624.6 million with EPS declining 13% to $1.41. During the quarter, F5 generated $132.7 million in free cash flow, up 9% from last year. F5 Networks announced the acquisition of privately held Volterra for approximately $440 million in cash. In connection with the transaction, F5 raised its long-term revenue outlook. The company also initiated a $500 million accelerated share repurchase in fiscal year 2021. F5’s stock whirled up an 18% gain during the past three months. Hold.

Oracle (ORCL) reported second quarter revenue rose 2% to $9.8 billion with EPS up 16% to $.80. Free cash flow increased 10% during the first half of fiscal 2021 with the company paying dividends of $1.4 billion and repurchasing $9 billion of its stock. Over the last three months, Oracle’s stock is up 16%. Hold.

T. Rowe Price (TROW) reported 2020 revenue rose 11% to $5.7 billion with EPS up 15% to $9.98. Ending assets under management increased 22% during 2020 to $1.47 trillion. T. Rowe Price recently increased its dividend 20%, marking the 35th consecutive year since the firm's initial public offering that the company has increased its dividend. T. Rowe Price’s stock has tripled over the last decade. Hold.

Biogen (BIIB) reported 2020 revenues declined 6.5% to $13.4 billion with EPS declining 21% to $24.80. Biogen generated a healthy 37% return on shareholders’ equity in 2020. Biogen repurchased about 22.4 million shares of its shares during 2020 for $6.7 billion, or $298.17 per average share. Biogen’s stock rose 12% during the past three months as the company awaits news on whether its Alzheimer’s drug will be approved by regulators around the globe. Hold.

General Dynamics (GD) reported 2020 revenue declined 4% to $37.9 billion with earnings down 9% to $3.2 billion. Return on shareholders’ equity for the year was a sturdy 20.2%. Free cash flow increased a strong 45% for the year to $2.9 billion with the company paying $1.2 billion in dividends and repurchasing $587 million of its stock. Orders remained strong across the company. Backlog grew 10% in the fourth quarter to a record high $89.5 billion due to key awards across business segments. General Dynamics’ stock bounced 10% higher in the last three months. Buy.

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