The expected share price for ABB India (NSE:ABB) has been raised. The new anticipated price is 3,661.11/share, which represents a 10.30% increase compared to the previous estimate of 3,319.19 dated April 23, 2023. Several analysts provided targets, and the average can be used to assess the potential future share price. According to the latest estimates, the range is between 1,735.18 and 4,515.00/share. The average price target is lower than the current closing price of 3,718.90/share by 1.55%.
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Fund Sentiment
Institutions and funds must regularly report positions held in companies like ABB India. According to the latest filings, 91 institutions or funds reported ownership, which is 89.58% higher than the previous quarter, representing an increase of 43 owners. The average portfolio weight of all funds invested in ABB is 0.09%. Total shares owned by institutions increased significantly in the last three months from 2,384K shares to 3,911K shares, an increase of 63.80%.
What are Other Shareholders Doing?
The company’s largest shareholder, Vanguard Emerging Markets Stock Index Fund Investor Shares (VEIEX), holds 751K shares, which represents 0.35% of the company. Its prior filing reported that it owned only 742K shares, so it has increased its ownership by 1.23%. The fund decreased its ABB portfolio allocation by 21.50% in the most recent quarter. Another major shareholder, Vanguard Total International Stock Index Fund Investor Shares, owns 700K shares, representing 0.33% of the company. The company’s prior filing showed that it owned 707K shares, representing a decrease of 1.03%. The fund decreased its ABB portfolio allocation by 20.33% in the most recent quarter. Other shareholders include iShares Core MSCI Emerging Markets ETF (547K shares, 0.26% ownership of ABB) and iShares MSCI India ETF (280K shares, 0.13% ownership of ABB).
This Fintel story was originally featured at Fintel.
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