In this piece, we will take a look at five stocks that might be splitting soon. If you want to learn more about stock splits, and some recent news, then read 11 Stocks That May Be Splitting Soon.
5. Arista Networks, Inc. (NYSE:ANET)
Latest Market Capitalization: $84.96 billion
Split Officially Announced? No
Arista Networks, Inc. (NYSE:ANET) is a cloud computing company headquartered in America’s semiconductor valley, Santa Clara, California. The shares are up by 110% over the past year, and the stock has only split once in its history. This split was a four for one split in 2021.
During Q3 2023, 59 out of the 910 hedge funds tracked by Insider Monkey had invested in Arista Networks, Inc. (NYSE:ANET). Steve Cohen’s Point72 Asset Management was the firm’s biggest hedge fund investor due to its $314 million stake.
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Follow Arista Networks Inc. (NYSE:ANET)
4. Palo Alto Networks, Inc. (NASDAQ:PANW)
Latest Market Capitalization: $108 billion
Split Officially Announced? No
Palo Alto Networks, Inc. (NASDAQ:PANW) is another technology company. Headquartered in Santa Clara, California, it provides customers with the ability to fortify their networks against threats. The shares are rated Strong Buy on average but the average analyst share price target of $325.31 is lower than the current market price.
For their third quarter of 2023 shareholdings, 79 out of the 910 hedge funds surveyed by Insider Monkey had held a stake in the firm. Palo Alto Networks, Inc. (NASDAQ:PANW)’s largest stakeholder among these is Ken Griffin’s Citadel Investment Group as it owns $563 million worth of shares.
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Follow Palo Alto Networks Inc (NYSE:PANW)
3. Booking Holdings Inc. (NASDAQ:BKNG)
Latest Market Capitalization: $124 billion
Split Officially Announced? No
Booking Holdings Inc. (NASDAQ:BKNG) is a travel services company that enables customers to plan their trips online. Like some other stocks on our list, Booking Holdings Inc. (NASDAQ:BKNG) has yet to undergo a stock split in its history, and a $3,561 share price does provide an incentive for one.
Insider Monkey scoured through 910 hedge fund portfolios for 2023’s September quarter and discovered 81 Booking Holdings Inc. (NASDAQ:BKNG) shareholders. Ken Fisher’s Fisher Asset Management owned the biggest stake which was worth $1.1 billion.
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Follow Booking Holdings Inc. (NASDAQ:BKNG)
2. Walmart Inc. (NYSE:WMT)
Latest Market Capitalization: $456 billion
Split Officially Announced? Yes
Walmart Inc. (NYSE:WMT) is the biggest brick and mortar retailer in the world. It announced a stock split in February 2024 that will see one Walmart Inc. (NYSE:WMT) share split into three. The split came despite Walmart Inc. (NYSE:WMT) ‘s relatively affordable $169 share price tag, showing that a low share price does not mean a split might not happen.
For their third quarter of 2023 shareholdings, 80 out of the 910 hedge funds profiled by Insider Monkey were the firm’s investors. Walmart Inc. (NYSE:WMT)’s largest stakeholder in our database is Ken Fisher’s Fisher Asset Management as it owns $1.4 billion worth of shares.
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Follow Walmart Inc. (NYSE:WMT)
1. Broadcom Inc. (NASDAQ:AVGO)
Latest Market Capitalization: $573 billion
Split Officially Announced? No
Broadcom Inc. (NASDAQ:AVGO) is a semiconductor company that designs and sells connectivity chips. The surge in interest around A.I. has sent its shares soaring to $1,224 per share, implying that perhaps management might do a split particularly as the stock is up by 103% over the past year.
87 out of the 910 hedge funds covered by Insider Monkey’s Q3 2023 research had bought and owned Broadcom Inc. (NASDAQ:AVGO)’s shares. Ken Fisher’s Fisher Asset Management owned the biggest stake which came through its $1.7 billion investment.
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Follow Broadcom Inc. (NASDAQ:AVGO)
Disclosure: None. You can also take a look at Cathie Wood’s Latest Stock Picks: 11 Biggest Positions and 13 Worst Rated Fast Food Restaurants in America According to Reddit.
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