Welch & Forbes LLC Sells 6,444 Shares of Booking Holdings Inc. $BKNG

Welch & Forbes LLC lessened its stake in shares of Booking Holdings Inc. (NASDAQ:BKNG) by 2.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 263,420 shares of the business services provider’s stock after selling 6,444 shares during the period. Welch & Forbes LLC’s holdings in Booking were worth $42,914,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of BKNG. BlackRock Inc. acquired a new position in shares of Booking during the 2nd quarter worth approximately $11,646,302,000. State Street Corp raised its stake in shares of Booking by 2,674.6% during the 2nd quarter. State Street Corp now owns 39,420,711 shares of the business services provider’s stock worth $7,026,348,000 after purchasing an additional 37,999,915 shares in the last quarter. Deutsche Bank AG acquired a new stake in shares of Booking in the 2nd quarter valued at approximately $1,691,186,000. Bank of New York Mellon Corp acquired a new stake in shares of Booking in the 2nd quarter valued at approximately $1,370,455,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Booking by 2,525.5% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,101,866 shares of the business services provider’s stock valued at $1,087,597,000 after buying an additional 5,869,459 shares during the last quarter. 92.42% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Booking

In related news, Director Robert J. Mylod, Jr. sold 1,000 shares of the company’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $200.00, for a total value of $200,000.00. Following the transaction, the director owned 14,000 shares in the company, valued at approximately $2,800,000. This represents a 6.67% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Vanessa Wittman sold 375 shares of the stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $211.00, for a total transaction of $79,125.00. Following the completion of the transaction, the director directly owned 16,133 shares in the company, valued at approximately $3,404,063. This represents a 2.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 77,425 shares of company stock worth $16,004,164 in the last quarter. 0.17% of the stock is owned by corporate insiders.

Booking Trading Up 1.8%

BKNG stock opened at $163.49 on Tuesday. Booking Holdings Inc. has a 1-year low of $146.28 and a 1-year high of $220.81. The business’s 50 day simple moving average is $165.65 and its 200 day simple moving average is $175.92. The firm has a market capitalization of $121.59 billion, a PE ratio of 17.64, a PEG ratio of 1.07 and a beta of 1.17.

Booking (NASDAQ:BKNG) last announced its quarterly earnings results on Tuesday, November 3rd. The business services provider reported $4.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.49 by $0.17. Booking had a negative return on equity of 89.54% and a net margin of 25.52%. The business had revenue of $9.79 billion during the quarter, compared to the consensus estimate of $9.55 billion. During the same quarter last year, the firm posted $99.50 EPS. The company’s quarterly revenue was down 1.2% on a year-over-year basis. As a group, sell-side analysts predict that Booking Holdings Inc. will post 10.24 EPS for the current fiscal year.

Booking Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Friday, December 11th will be paid a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Friday, December 11th. Booking’s dividend payout ratio (DPR) is currently 18.12%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. lowered their target price on shares of Booking from $248.00 to $205.00 and set an “overweight” rating on the stock in a report on Wednesday, November 4th. Barclays dropped their price target on shares of Booking from $210.00 to $170.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 4th. Argus increased their price target on shares of Booking from $210.00 to $245.00 and gave the company a “buy” rating in a research note on Monday, August 10th. BMO Capital Markets reissued an “outperform” rating and issued a $245.00 price objective on shares of Booking in a research report on Wednesday, November 4th. Finally, Piper Sandler restated a “neutral” rating and set a $200.00 price objective (down from $215.00) on shares of Booking in a research note on Wednesday, November 4th. Two analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $222.35.

Booking Company Profile

Booking Holdings Inc is an online travel company that connects travelers with accommodations and other travel services. Through its digital platforms, customers can search for and book hotels, vacation rentals, flights, rental cars, attractions and other travel experiences.

The company operates a portfolio of consumer brands, including Booking.com, Priceline, Agoda, KAYAK, Rentalcars.com and OpenTable. Its services span accommodation reservations, travel search and comparison, car rentals, and restaurant reservations.

Booking Holdings traces its history to Priceline, which was founded in 1997.