Atlantic Union Bankshares Corp Increases Stake in Booking Holdings Inc.

Atlantic Union Bankshares Corp has raised its investment in Booking Holdings Inc. (NASDAQ:BKNG - Free Report) by 11.6% in the fourth quarter, according to the latest 13F filing with the Securities and Exchange Commission. Following the purchase of an additional 322 shares during this period, the fund now owns 3,098 shares of the travel services provider's stock.

Booking Holdings constitutes roughly 0.9% of Atlantic Union Bankshares Corp's total holdings, making it the 26th largest investment in their portfolio. The current value of Atlantic Union Bankshares Corp's stake in Booking is approximately $15,392,000 as per the latest details filed with the SEC.

Institutional Investment Activity

Many other hedge funds and institutional investors have also recently adjusted their positions in Booking. For instance, AEGON ASSET MANAGEMENT UK Plc acquired a new stake worth about $25,000, and New Wave Wealth Advisors LLC made a similar investment of $25,000. Promus Capital LLC also bought shares valued at around $35,000.

Some investors, like Valley National Advisers Inc., significantly increased their holdings in Booking by 600% during the fourth quarter. They now own 7 shares, which is valued at approximately $36,000 after acquiring an additional 6 shares. Additionally, Addison Advisors LLC expanded their investment by 80% during the third quarter, intending to benefit from positive market conditions.

At present, institutional investors and hedge funds collectively own 92.42% of Booking's stock, illustrating significant confidence in the company's future performance.

Current Market Performance

On Friday, NASDAQ:BKNG opened at $4,673.38. Booking Holdings has achieved a market capitalization of $153.36 billion and has a price-to-earnings ratio of 27.01, with a PEG ratio of 1.71 and a beta value of 1.40. The stock has seen a 1-year low of $3,180.00 and a high of $5,337.24, indicating robust trading activity and investor interest. The firm also noted a fifty-day moving average price of $4,872.56 and a 200-day moving average price of $4,649.79.

Recent Financial Results and Dividends

Booking reported its quarterly earnings on February 20th, with earnings per share standing at $41.55, surpassing the consensus estimate of $35.82 by $5.73. Additionally, the firm recorded a revenue of $5.47 billion, exceeding analyst expectations of $5.18 billion. Despite having a negative return on equity at 159.34%, the company maintained a net margin of 24.78%. Analysts project that Booking Holdings will report 209.92 earnings per share for this year.

In a recent announcement, Booking also declared a quarterly dividend to be paid on March 31st. Shareholders recorded as of March 7th will receive a dividend of $9.60, an increase from the previous amount of $8.75. This reflects an annualized dividend of $38.40, with a yield of 0.82%. The ex-dividend date will also be March 7th, and the current dividend payout ratio stands at 22.19%.

Analysts' Opinions and Price Targets

Market analysts have recently provided their assessments regarding Booking shares. Wells Fargo & Company increased their price target from $4,470.00 to $5,248.00 while maintaining a rating of "equal weight." Benchmark also raised their target from $5,000.00 to $5,900.00 with a "buy" rating. Cantor Fitzgerald adjusted their price objective to $5,540.00, reflecting a "neutral" rating.

StockNews.com shifted their rating for Booking from "hold" to "buy." Similarly, Cfra upgraded the stock’s rating from "hold" to "buy." Currently, nine analysts suggest holding the stock, while twenty-one recommend buying it, and two analysts suggest a strong buy. Per MarketBeat, Booking has an average rating of "Moderate Buy" with a consensus target price of $5,370.43.

About Booking Holdings Inc.

Booking Holdings Inc., previously known as The Priceline Group Inc., is a prominent provider of travel and restaurant online reservations and related services. Through its online platforms, including Booking.com, priceline.com, and agoda.com, the company connects consumers with service providers in the travel industry, offering a wide array of accommodations including hotels, vacation rentals, and other properties.

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