Tocqueville Asset Management L.P. Reduces Holdings in Booking Holdings Inc.

Tocqueville Asset Management L.P. has decreased its holdings in Booking Holdings Inc. (NASDAQ:BKNG) by 2.2% during the fourth quarter, as reported in its latest filing with the Securities and Exchange Commission (SEC). Following the sale of 206 shares, the institutional investor now owns a total of 9,204 shares of the travel services provider.

The value of Tocqueville Asset Management L.P.'s investment in Booking was estimated at approximately $45,729,000 at the conclusion of the fourth quarter.

Other Institutional Changes

In addition to Tocqueville, other large investors have also made changes to their positions in Booking. Garner Asset Management Corp increased its stake by 0.8% in the third quarter, now holding 258 shares worth about $1,087,000 after acquiring an additional 2 shares. Similarly, Optimist Retirement Group LLC increased its investment by 2.2%, now owning 91 shares valued at $383,000 after purchasing 2 more shares in the same quarter.

Raymond James Trust N.A. has raised its stake by 0.5%, bringing its total to 662 shares valued at approximately $2,788,000 after the addition of 3 shares. Nicolet Advisory Services LLC also boosted its holdings by 1.3%, resulting in ownership of 241 shares valued at $989,000 after acquiring another 3 shares. Lastly, Crewe Advisors LLC has increased its stake by 1.9%, now owning 160 shares worth roughly $674,000 after a purchase of 3 shares.

As a whole, institutional investors own 92.42% of the stock in Booking Holdings Inc.

Analyst Recommendations

Several Wall Street analysts have provided insights on Booking's stock. DA Davidson raised its price target from $5,005.00 to $5,800.00, with a designated "buy" rating. JPMorgan Chase & Co. also increased their target from $5,575.00 to $5,750.00, rating the stock as "overweight." Mizuho has set a price target of $6,000.00 after lifting it from $5,400.00 while giving the stock an "outperform" rating. Robert W. Baird initiated coverage of Booking, granting it an "outperform" rating and setting a price target of $5,850.00.

Overall, analysts provide a mixed assessment of the stock. Currently, nine analysts suggest holding it, twenty-one recommend buying, and two offer a strong buy rating. Based on MarketBeat data, Booking Holdings Inc. holds an average rating of "Moderate Buy" with an average price target of $5,370.43.

Stock Performance Overview

As of Monday, Booking's stock opened at $4,465.48. The company has a market capitalization of $146.53 billion, a P/E ratio of 25.81, a PEG ratio of 1.71, and a beta value of 1.40. Over the past year, the stock has fluctuated between a low of $3,180.00 and a high of $5,337.24. The current 50-day moving average stands at $4,816.74, and the 200-day moving average is at $4,682.53.

Recent Earnings and Dividend Increase

Booking recently published its quarterly earnings on February 20th. The results showed earnings per share (EPS) of $41.55, surpassing analysts' expectations of $35.82 by $5.73. The company reported quarterly revenues of $5.47 billion, which also exceeded the $5.18 billion anticipated by analysts.

Following its strong performance, Booking announced a quarterly dividend of $9.60, set to be distributed on March 31st. Investors with record on March 7th will receive this dividend. The total annual dividend will be $38.40, translating to a yield of 0.86%. This is an increase from the previous quarterly dividend of $8.75 and reflects a payout ratio of 22.19%.

Company Overview

Booking Holdings Inc, formerly known as The Priceline Group Inc, specializes in online reservation services for travel and restaurants. The company connects consumers looking to make travel arrangements with service providers worldwide. Its brands include Booking.com, priceline.com, and agoda.com, offering a wide range of accommodation options such as hotels, vacation rentals, and more.

Conclusion

With significant institutional ownership and an optimistic outlook from analysts, Booking Holdings Inc. appears to maintain a strong position in the market. Investors should continue to monitor the company's performance and changes in holdings from major stakeholders.

Tocqueville, Booking, Investing