Investors use many metrics to determine the real value of a company’s stock. One common evaluation is a stock’s share price and how that has performed over time. While other valuation metrics can be used, at this stage in the eight-year bull market there are many companies with share prices on their way to $1,000. A few even have hit the $1,000 mark.
24/7 Wall St. wanted to review 15 of the highest price stocks that trade on the New York Stock Exchange and the Nasdaq. What is interesting is that of the 15 highest priced stocks, almost all have market caps well over $1 billion. Some are very well-known companies, while others may only be familiar to those who work as competitors in the same industry.
We screened for the highest NYSE and Nasdaq share prices using data from FINVIZ, but no stocks with over-the-counter or pink sheet listings were considered for this review. We have included a brief description of each company included and how the stock’s performance has been so far in 2017. Also included are trading ranges and valuation, as well as the Thomson Reuters consensus analyst price target.
Some companies in this stage of the bull market just want to have a higher rather than a lower share price. It may be a sense of pride, or it could even be Warren Buffett envy. One effort to curb the impact of having such a high-priced stock is simply to create a new class of shares, a strategy that was used by Berkshire Hathaway.
Other companies try to avoid having high share prices so that retail investors might be more inclined to own their shares. To accomplish an instantly lower share price without changing any of the fundamentals of a company, the most common strategy is to announce a stock split. For instance, a theoretical four-for-one split of a $400 stock would magically turn 100 shares into 400 shares, while quadrupling the number of shares outstanding. Apple split its stock seven-for-one ahead of becoming a member of the Dow, and its shares now would be priced over $1,000 had it not done so.
Berkshire Hathaway
> Share price: $247,160.00
Berkshire Hathaway Inc. (NYSE: BRK-A) has stayed relatively flat in 2017, with the stock up only 1.2% year to date. As we all know, Warren Buffet is at the helm of this mega-corporation, and it is the most expensive stock on the market far and away. Berkshire Hathaway acts as a holding company for numerous businesses that deal in practically every field, with subsidiaries such as BNSF, Precision Castparts, Lubrizol, MidAmerican Energy, GEICO and on and on. Investors can also buy Berkshire Hathaway B shares for $165 or so. The A shares have traded in a 52-week range of $205,074.00 to $266,445.00, and the market cap is $406.3 billion. The consensus analyst price target is generally from too few analysts to be relied upon, but it was last seen at $282,350.00.
Seaboard
> Share price: $4,010.00
Seaboard Corp. (NYSE: SEB) shares are relatively flat on the year as well, up only 1.5%. Seaboard operates as a diverse agribusiness, from pork and turkeys to sugar and biofuels. The company also acts as a commodity trader and a marine shipper worldwide. The stock has traded in a 52-week range of $2,590.00 to $4,545.00, with a total market cap of $4.7 billion.
NVR
> Share price: $2,162.31
NVR Inc. (NYSE: NVR) has outperformed the broad markets year to date, with the stock up 29.6%. The company operates as a homebuilder in the United States. Its focus is in the Mid-Atlantic, North East, Mid East and South East markets, mostly for single-family homes, townhomes and condominiums under the brand names of Ryan Homes, NVHomes and Heartland Homes. Shares traded in a 52-week range of $1,478.04 to $2,191.75 and have a consensus price target of $2,106.67. The company also has a total addressable market cap of $8.1 billion.
Priceline
> Share price: $1,903.91
Priceline Group Inc. (NASDAQ: PCLN) shares have made solid gains in 2017 so far, up about 30% year to date. The company offers online travel, restaurant reservation and other related services through subsidiaries such as Booking.com and KAYAK, and the company has been one of the leaders in revolutionizing travel over the past two decades. Shares traded between $1,148.06 and $1,927.13 in the past year. The consensus price target is $1,953.61. Priceline has a total market cap of $93.6 billion.
Markel
> Share price: $963.48
Markel Corp. (NYSE: MKL) shares are up 6.5% year to date. The company markets and underwrites specialty insurance products in the United States and internationally, within its U.S. Insurance, International Insurance and Reinsurance segments. The consensus price target is $1,005.00, and the 52-week range is $811.05 to $992.00. The company has a total addressable market cap of $13.4 billion.
Alphabet
> Share price: $958.69
Alphabet Inc. (NASDAQ: GOOGL) is up on the year by roughly 21%. Alphabet, formerly known as Google, operates the largest online search engine, endless advertising operations, YouTube and so on, and it is now an amalgamation of too many offshoot businesses to count. It also is two stocks after a split, with investors usually choosing the A shares (GOOGL) rather than the C shares (GOOG). The A shares have traded in a 52-week range of $672.66 to $961.49, with a market cap of $655.0 billion. The consensus price target is $1,052.17.
24/7 Wall St.Amazon
> Share price: $949.04
Amazon.com Inc. (NASDAQ: AMZN) shares have risen 26.6% year to date. This company operates perhaps the largest e-commerce marketplaces in the world, in both the United States and internationally, and supreme leader Jeff Bezos has taken over in many e-commerce verticals and in cloud services under Amazon Web Services. The stock traded in a range of $671.41 to $954.40, and the consensus price target is $1,092.00. The market cap totaled $453.6 billion.
White Mountains
> Share price: $865.00
White Mountains Insurance Group Ltd. (NYSE: WTM) shares are up 3.6% so far in 2017. This company offers insurance services for companies and entities in multiple industries and sectors in the United States. The stock has a 52-week trading range of $790.00 to $948.94. White Mountains has a total market cap of $4.0 billion, but there is no real consensus analyst target price that can be relied upon.
Intuitive Surgical
> Share price: $840.79
Intuitive Surgical Inc. (NASDAQ: ISRG) saw its shares surge by over 32% just this year. This company designs, manufactures and markets da Vinci robotic surgical systems, as well as related instruments and accessories. Intuitive Surgical has a market cap of $31.0 billion and a consensus price target of $842.85. The 52-week range is $610.71 to $851.62.
AutoZone
> Share price: $709.98
AutoZone Inc. (NYSE: AZO) shares are actually down year to date by about 10%. The company operates a chain of automotive parts stores and is easily a top player in that field. The stock has a 52-week range of $680.00 to $819.54 and a consensus price target of $844.48. AutoZone has a total market cap of $20.2 billion.
Cable One
> Share price: $668.38
Cable One Inc. (NYSE: CABO) is positive on the year, up 7.8%. The company operates cable systems that provide data, video and voice services to residential and commercial customers. It is unknown in certain parts of the country because Cable One operates in just 19 Western, Midwestern and Southern states, but it counts just over 500,000 data customers. Cable One has a market cap of $3.8 billion. Shares have traded within a 52-week range of $471.24 to $689.40, and the consensus price target is $624.67.
Graham Holdings
> Share price: $592.85
Graham Holdings Co. (NYSE: GHC) shares are up nearly 16% year to date. This American news conglomerate is better known for formerly owning the Washington Post and Newsweek. Shares have traded in a 52-week range of $440.55 to $615.85 and have a consensus price target of $740.00. The total market cap is $3.3 billion.
Alleghany
> Share price: $587.97
Alleghany Corp. (NYSE: Y) was actually negative on the year as well, with the stock down 3.3% year to date. Alleghany operates as a property and casualty insurance company in the United States and internationally. Its stock has traded in a 52-week range of $510.17 to $667.19. It has a total addressable market cap of $9.1 billion.
Mettler-Toledo
> Share price: $542.59
Mettler-Toledo International Inc. (NYSE: MTD) has seen its shares to rise by roughly 30% so far in 2017. This company is the largest provider of weighing instruments for use in laboratory, industrial and food retailing applications. Shares have traded in a 52-week range of $343.61 to $566.49. The consensus analyst target is $520.01. Mettler-Toledo has a total market cap of $14 billion.
Chipotle
> Share price: $471.15
Chipotle Mexican Grill Inc. (NYSE: CMG) is positive year to date, with the stock up 25%. This company operates a chain of fast-casual Mexican restaurants that specialize in burritos, and it has had its fill of being in the news of late for reasons the company would like to be able to move beyond. Chipotle stock has traded hands between $352.96 and $497.48 in the past year and now has a consensus price target of $447.88. The company also has a market cap of $13.5 billion.
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