Tocqueville Asset Management L.P. Sells 206 Shares of Booking Holdings Inc. (NASDAQ:BKNG)

Tocqueville Asset Management L.P. has reduced its holdings in Booking Holdings Inc. (NASDAQ:BKNG) by 2.2% during the fourth quarter, based on the latest report filed with the Securities and Exchange Commission (SEC). After selling 206 shares, the institutional investor now owns 9,204 shares of the travel services company's stock, valued at approximately $45.7 million at the end of the quarter.

Changes in Institutional Ownership

Other large institutional investors have also modified their positions in Booking Holdings recently. During the third quarter, Garner Asset Management Corp increased its stake in Booking by 0.8%, raising its ownership to 258 shares valued at about $1.1 million after purchasing two additional shares. Similarly, Optimist Retirement Group LLC lifted its stake by 2.2%, owning 91 shares worth $383,000 after acquiring two more shares in the last quarter.

Other firms, like Raymond James Trust N.A. and Nicolet Advisory Services LLC, have also increased their stakes modestly by 0.5% and 1.3%, respectively. Crewe Advisors LLC saw an increase of 1.9%, owning 160 shares valued at roughly $674,000 after buying three more shares. Notably, institutional investors collectively own 92.42% of Booking's stock.

Analyst Ratings and Price Targets

Analysts have shown optimism regarding Booking's stock. DA Davidson recently raised its price target for shares from $5,005 to $5,800, assigning a "buy" rating to the company. Likewise, JPMorgan Chase & Co. lifted its price target from $5,575 to $5,750, rating the stock as "overweight." Mizuho also increased its price target from $5,400 to $6,000, rating it as "outperform." With varied opinions, nine analysts rated the stock as a hold, while twenty-one gave it a buy rating, and two analysts issued a strong buy recommendation. According to MarketBeat, the average rating for Booking is "Moderate Buy" with an average price target of approximately $5,370.43.

Stock Price Performance Overview

As of Monday, Booking's stock opened at $4,465.48, contributing to a market capitalization of $146.53 billion. The company's price-to-earnings (P/E) ratio stands at 25.81, while its price-to-earnings growth (PEG) ratio is 1.71, with a beta of 1.40. Over the past year, Booking shares have fluctuated between a low of $3,180.00 and a high of $5,337.24. The 50-day moving average price is reported at $4,816.74, whereas the 200-day moving average price sits at $4,682.53.

Earnings Report and Dividend Declaration

On February 20, Booking Holdings released its latest quarterly earnings report, showing earnings of $41.55 per share, which exceeded the consensus estimate of $35.82 by $5.73. Additionally, the company reported revenue of $5.47 billion, surpassing analysts' predictions of $5.18 billion. The company's net margin reached 24.78% with a negative return on equity of 159.34%. Analysts predict that Booking Holdings will report an earnings per share (EPS) of 209.92 for the current year.

Furthermore, Booking announced a quarterly dividend of $9.60, to be distributed on March 31 to shareholders on record as of March 7. This marks an increase from the previous dividend of $8.75, translating to a $38.40 annualized dividend yield of 0.86%. The payout ratio now stands at 22.19%.

Company Profile

Booking Holdings Inc., previously known as The Priceline Group Inc., is a leading provider of online reservation services for travel and restaurants. Through its various online travel companies, it connects consumers with providers of travel services worldwide, offering a wide range of accommodation options via websites such as Booking.com, priceline.com, and agoda.com.

Conclusion

As institutional investors adjust their positions and analysts express positive views, Booking Holdings Inc. continues to attract attention in the stock market. The recent developments, earnings performance, and dividend announcements highlight the company's active role in the travel and reservation industry.

Tocqueville, Booking, Investors