The Mathematics of Investing
Reading the Wall Street Journal Stock Tables
All data taken from the Tuesday, February 16, 1999, edition of the Wall Street Journal. The information below is based on the Wall Street Journal Stock Table
Notes. Note that Monday, February 15, was a holiday, so the latest trading day, mentioned below, refers to Friday, February 12, and the previous trading day to Thursday, February 11.
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52 Weeks |
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Yld |
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Vol |
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Net |
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Hi |
Lo |
Stock |
Sym |
Div |
% |
P/E |
100s |
Hi |
Lo |
Close |
Chg |
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199 1/4 |
95 7/8 |
IBM |
IBM |
.88 |
.5 |
26 |
58331 |
176 1/4 |
171 3/16 |
172 3/4 |
–5 3/4 |
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| Highest price of the stock during the preceding 52 weeks including the current week, excluding the latest trading day. |
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52 Weeks |
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Yld |
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Vol |
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Net |
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Hi |
Lo |
Stock |
Sym |
Div |
% |
P/E |
100s |
Hi |
Lo |
Close |
Chg |
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199 1/4 |
95 7/8 |
IBM |
IBM |
.88 |
.5 |
26 |
58331 |
176 1/4 |
171 3/16 |
172 3/4 |
–5 3/4 |
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| Lowest price of the stock during the preceding 52 weeks including the current week, excluding the latest trading day. |
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52 Weeks |
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Yld |
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Vol |
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Net |
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Hi |
Lo |
Stock |
Sym |
Div |
% |
P/E |
100s |
Hi |
Lo |
Close |
Chg |
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199 1/4 |
95 7/8 |
IBM |
IBM |
.88 |
.5 |
26 |
58331 |
176 1/4 |
171 3/16 |
172 3/4 |
–5 3/4 |
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| The company name, not always in alphabetical order. |
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52 Weeks |
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Yld |
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Vol |
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Net |
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Hi |
Lo |
Stock |
Sym |
Div |
% |
P/E |
100s |
Hi |
Lo |
Close |
Chg |
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199 1/4 |
95 7/8 |
IBM |
IBM |
.88 |
.5 |
26 |
58331 |
176 1/4 |
171 3/16 |
172 3/4 |
–5 3/4 |
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| Company stock ticker symbol. Usually symbols with three or fewer letters are traded on the NYSE, and those with four or five on the NASDAQ. |
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52 Weeks |
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Yld |
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Vol |
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Net |
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Hi |
Lo |
Stock |
Sym |
Div |
% |
P/E |
100s |
Hi |
Lo |
Close |
Chg |
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199 1/4 |
95 7/8 |
IBM |
IBM |
.88 |
.5 |
26 |
58331 |
176 1/4 |
171 3/16 |
172 3/4 |
–5 3/4 |
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| The latest annual cash dividend per share. |
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52 Weeks |
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Yld |
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Vol |
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Net |
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Hi |
Lo |
Stock |
Sym |
Div |
% |
P/E |
100s |
Hi |
Lo |
Close |
Chg |
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199 1/4 |
95 7/8 |
IBM |
IBM |
.88 |
.5 |
26 |
58331 |
176 1/4 |
171 3/16 |
172 3/4 |
–5 3/4 |
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The dividend expressed as a percentage of the closing price
(.88 ÷ 172 3/4 × 100 = .51, rounded to one decimal place, .5). |
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52 Weeks |
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Yld |
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Vol |
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Net |
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Hi |
Lo |
Stock |
Sym |
Div |
% |
P/E |
100s |
Hi |
Lo |
Close |
Chg |
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199 1/4 |
95 7/8 |
IBM |
IBM |
.88 |
.5 |
26 |
58331 |
176 1/4 |
171 3/16 |
172 3/4 |
–5 3/4 |
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| The Price to Earnings Ratio obtained by dividing the closing price by the earnings per share. Thus, the earnings per share were 172 3/4 ÷ 26 = 6.64. (In fact, IBM's earnings per share for 1998 were 6.59, and 172 3/4 ÷ 6.59 = 26.2.) There are various ways to interpret a P/E ratio of 26. One way is: for every $1 the company earns it costs the stock owner $26. |
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52 Weeks |
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Yld |
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Vol |
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Net |
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Hi |
Lo |
Stock |
Sym |
Div |
% |
P/E |
100s |
Hi |
Lo |
Close |
Chg |
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199 1/4 |
95 7/8 |
IBM |
IBM |
.88 |
.5 |
26 |
58331 |
176 1/4 |
171 3/16 |
172 3/4 |
–5 3/4 |
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| Number of shares traded (daily and unofficial) in 100s. Thus, 5,833,100 IBM shares were traded on the latest trading day. |
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52 Weeks |
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Yld |
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Vol |
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Net |
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Hi |
Lo |
Stock |
Sym |
Div |
% |
P/E |
100s |
Hi |
Lo |
Close |
Chg |
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199 1/4 |
95 7/8 |
IBM |
IBM |
.88 |
.5 |
26 |
58331 |
176 1/4 |
171 3/16 |
172 3/4 |
–5 3/4 |
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| Stock's highest price on the latest trading day. |
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52 Weeks |
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Yld |
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Vol |
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Net |
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Hi |
Lo |
Stock |
Sym |
Div |
% |
P/E |
100s |
Hi |
Lo |
Close |
Chg |
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199 1/4 |
95 7/8 |
IBM |
IBM |
.88 |
.5 |
26 |
58331 |
176 1/4 |
171 3/16 |
172 3/4 |
–5 3/4 |
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| Stock's lowest price on the latest trading day. |
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52 Weeks |
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Yld |
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Vol |
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Net |
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Hi |
Lo |
Stock |
Sym |
Div |
% |
P/E |
100s |
Hi |
Lo |
Close |
Chg |
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199 1/4 |
95 7/8 |
IBM |
IBM |
.88 |
.5 |
26 |
58331 |
176 1/4 |
171 3/16 |
172 3/4 |
–5 3/4 |
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| Stock's closing (that is, last) price on the latest trading day. |
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52 Weeks |
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Yld |
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Vol |
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Net |
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Hi |
Lo |
Stock |
Sym |
Div |
% |
P/E |
100s |
Hi |
Lo |
Close |
Chg |
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199 1/4 |
95 7/8 |
IBM |
IBM |
.88 |
.5 |
26 |
58331 |
176 1/4 |
171 3/16 |
172 3/4 |
–5 3/4 |
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| The change in the closing price of the stock of the latest trading day from the closing price of the previous trading day. Thus, the previous trading day's closing price was 178 1/2. |
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52 Weeks |
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Yld |
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Vol |
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Net |
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Hi |
Lo |
Stock |
Sym |
Div |
% |
P/E |
100s |
Hi |
Lo |
Close |
Chg |
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89 15/16 |
45 5/8 |
AMR |
AMR |
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... |
714318 |
55 1/4 |
54 1/16 |
55 1/8 |
–5/16 |
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| Stock split in past 52 weeks. (From this you cannot tell whether the split was 2 for 1, 3 for 1,...). The high-low price is adjusted from the old stock. For example, if, prior to a 2 for 1 split, the high price was 100, then after the split the high price is 50. Notice, AMR paid no dividends and had no earnings. |
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52 Weeks |
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Yld |
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Vol |
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Net |
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Hi |
Lo |
Stock |
Sym |
Div |
% |
P/E |
100s |
Hi |
Lo |
Close |
Chg |
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26 11/16 |
12 3/8 |
PepBoys |
PBY |
.26 |
1.4 |
dd |
5622 |
18 5/8 |
17 15/16 |
18 9/16 |
+1 1/16 |
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The dd under P/E means a loss in the most recent four quarters. The bold facing indicates that the price has changed by 5% or more. (1 1/16 ÷ 17 1/2 × 100 = 6.07%).
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52 Weeks |
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Yld |
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Vol |
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Net |
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Hi |
Lo |
Stock |
Sym |
Div |
% |
P/E |
100s |
Hi |
Lo |
Close |
Chg |
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73 1/8 |
45 1/16 |
AnheuserB |
BUD |
1.12 |
1.6 |
28 |
9953 |
73 1/4 |
71 9/16 |
71 7/8 |
–15/16 |
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| A new 52 week high. Did this occur on the latest trading day or on the previous trading day? |
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52 Weeks |
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Yld |
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Vol |
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Net |
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Hi |
Lo |
Stock |
Sym |
Div |
% |
P/E |
100s |
Hi |
Lo |
Close |
Chg |
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61 3/4 |
31 5/8 |
 DelphiFnl |
DFG |
stk |
... |
12 |
3653 |
48 7/8 |
42 5/16 |
47 7/8 |
+5 3/8 |
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| The indicates that a free annual report is available from The Wall Street Journal. The stk under Div indicates that the company does not pay dividends but paid in stock. The underlining indicates a large change in volume compared to that stock's average volume. |
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Look at the following stock.
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52 Weeks |
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Yld |
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Vol |
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Net |
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Hi |
Lo |
Stock |
Sym |
Div |
% |
P/E |
100s |
Hi |
Lo |
Close |
Chg |
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61 3/16 |
40 13/16 |
CampblSoup |
CPB |
.90f |
2.2 |
28 |
10997 |
41 7/8 |
40 |
40 1/4 |
–1 3/16 |
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Now answer the following questions.
- Confirm that the percentage yield of 2.2 is accurate.
- Someone claims that the volume of trades was average. True or false?
- How can you tell, without doing any calculations, that the change in price is less than 5%?
- Now do some calculations to confirm that the change in price is less than 5%.
- Two people use the internet to look up the earnings per share ratio of Campbell Soups. He finds $3, she $1.50. Which one is most likely correct?
- Someone claims that Campbell Soups have lowered their dividend. True or false?
- Someone claims that she bought Campbell's shares about six months ago for nearly $100, so this table is wrong. Why does she think the table is wrong? Could the table be right?
- What will the 52-week low be after the next trading day (Tuesday, February 16)?
The information contained on this site is not intended to be construed as investment, legal, or accounting advice.
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