CIBC Private Wealth Group LLC Lowers Stock Position in Booking Holdings Inc. (NASDAQ:BKNG)

CIBC Private Wealth Group LLC trimmed its stake in Booking Holdings Inc. (NASDAQ:BKNG) by 4.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 2,394 shares of the business services provider’s stock after selling 122 shares during the period. CIBC Private Wealth Group LLC’s holdings in Booking were worth $11,665,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the stock. AEGON ASSET MANAGEMENT UK Plc acquired a new position in Booking during the fourth quarter worth $25,000. New Wave Wealth Advisors LLC acquired a new position in Booking during the 4th quarter worth about $25,000. Summit Securities Group LLC purchased a new position in Booking during the 4th quarter valued at about $30,000. Promus Capital LLC acquired a new position in Booking in the 4th quarter valued at about $35,000. Finally, Valley National Advisers Inc. increased its stake in Booking by 600.0% during the fourth quarter. Valley National Advisers Inc. now owns 7 shares of the business services provider’s stock worth $36,000 after purchasing an additional 6 shares during the period. 92.42% of the stock is currently owned by institutional investors and hedge funds.

Booking Stock Down 0.6 %

NASDAQ BKNG opened at $4,606.91 on Tuesday. The business’s 50-day moving average price is $4,772.70 and its 200 day moving average price is $4,745.26. The firm has a market cap of $151.18 billion, a P/E ratio of 26.62, a P/E/G ratio of 1.71 and a beta of 1.40. Booking Holdings Inc. has a 52-week low of $3,180.00 and a 52-week high of $5,337.24.

Booking (NASDAQ:BKNG) last announced its earnings results on Thursday, February 20th. The business services provider reported $41.55 earnings per share for the quarter, beating the consensus estimate of $35.82 by $5.73. Booking had a negative return on equity of 159.34% and a net margin of 24.78%. The company had revenue of $5.47 billion for the quarter, compared to the consensus estimate of $5.18 billion. As a group, analysts anticipate that Booking Holdings Inc. will post 209.92 earnings per share for the current year.

Booking Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 7th were paid a $9.60 dividend. This represents a $38.40 annualized dividend and a dividend yield of 0.83%. The ex-dividend date of this dividend was Friday, March 7th. This is a boost from Booking’s previous quarterly dividend of $8.75. Booking’s dividend payout ratio (DPR) is 22.19%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on BKNG shares. JPMorgan Chase & Co. raised their price objective on shares of Booking from $5,575.00 to $5,750.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. B. Riley boosted their price target on shares of Booking from $5,700.00 to $6,000.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Cfra upgraded Booking from a “hold” rating to a “buy” rating in a research note on Tuesday, February 18th. Morgan Stanley boosted their target price on Booking from $4,600.00 to $5,000.00 and gave the stock an “equal weight” rating in a research note on Monday, January 13th. Finally, Erste Group Bank lowered Booking from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 17th. Ten investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $5,370.43.

Booking Profile

Booking Holdings Inc, formerly The Priceline Group Inc, is a provider of travel and restaurant online reservation and related services. The Company, through its online travel companies (OTCs), connects consumers wishing to make travel reservations with providers of travel services across the world. It offers consumers an array of accommodation reservations (including hotels, bed and breakfasts, hostels, apartments, vacation rentals and other properties) through its Booking.com, priceline.com and agoda.com brands.