Booking Holdings Inc. $BKNG Stock Position Trimmed by Bank Pictet & Cie Europe AG

Bank Pictet & Cie Europe AG decreased its holdings in shares of Booking Holdings Inc. (NASDAQ:BKNG) by 6.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 76,549 shares of the business services provider’s stock after selling 5,076 shares during the quarter. Bank Pictet & Cie Europe AG’s holdings in Booking were worth $12,471,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Allworth Financial LP boosted its stake in Booking by 1,615.6% during the 2nd quarter. Allworth Financial LP now owns 13,931 shares of the business services provider’s stock valued at $2,483,000 after purchasing an additional 13,119 shares during the last quarter. B. Metzler seel. Sohn & Co. AG purchased a new stake in shares of Booking in the second quarter worth approximately $11,687,000. MBM Wealth Consultants LLC raised its stake in shares of Booking by 2,860.8% in the second quarter. MBM Wealth Consultants LLC now owns 12,554 shares of the business services provider’s stock worth $2,238,000 after purchasing an additional 12,130 shares during the last quarter. Envestnet Portfolio Solutions Inc. raised its stake in shares of Booking by 2,549.7% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 88,949 shares of the business services provider’s stock worth $16,077,000 after purchasing an additional 85,592 shares during the last quarter. Finally, Merit Financial Group LLC lifted its holdings in shares of Booking by 1,663.9% in the second quarter. Merit Financial Group LLC now owns 28,698 shares of the business services provider’s stock valued at $5,115,000 after purchasing an additional 27,071 shares in the last quarter. 92.42% of the stock is owned by institutional investors.

Booking Trading Up 0.5%

Shares of BKNG traded up $0.79 on Tuesday, reaching $163.39. 3,130,926 shares of the company’s stock traded hands, compared to its average volume of 8,128,051. The stock’s 50 day simple moving average is $181.07 and its two-hundred day simple moving average is $177.57. The stock has a market cap of $122.77 billion, a PE ratio of 18.07, a PEG ratio of 1.01 and a beta of 1.13. Booking Holdings Inc. has a 52-week low of $150.14 and a 52-week high of $220.81.

Booking (NASDAQ:BKNG) last posted its quarterly earnings data on Monday, August 3rd. The business services provider reported $2.54 earnings per share for the quarter, topping the consensus estimate of $2.43 by $0.11. The business had revenue of $7.35 billion for the quarter, compared to analysts’ expectations of $7.19 billion. Booking had a negative return on equity of 102.96% and a net margin of 25.53%. The business’s revenue was up 8.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $55.40 earnings per share. Analysts forecast that Booking Holdings Inc. will post 10.48 earnings per share for the current year.

Booking Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Friday, September 11th were 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 was Friday, September 11th. Booking’s payout ratio is presently 18.58%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on BKNG. Bank of America reaffirmed a “buy” rating and set a $234.00 target price on shares of Booking in a research report on Wednesday, August 5th. Argus increased their price target on Booking from $210.00 to $245.00 and gave the company a “buy” rating in a research report on Monday, August 10th. Evercore restated an “outperform” rating and set a $270.00 price objective on shares of Booking in a research note on Monday, August 24th. Wedbush lifted their price objective on shares of Booking from $211.00 to $247.00 and gave the stock an “outperform” rating in a report on Wednesday, August 5th. Finally, Citigroup reiterated a “market perform” rating on shares of Booking in a research note on Thursday, September 24th. Three analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Booking presently has an average rating of “Moderate Buy” and an average price target of $233.71.

Insider Activity at Booking

In related news, CFO Ewout L. Steenbergen sold 20,000 shares of the business’s stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $211.03, for a total value of $4,220,600.00. Following the transaction, the chief financial officer directly owned 59,794 shares of the company’s stock, valued at approximately $12,618,327.82. The trade was a 25.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Paulo Pisano sold 1,500 shares of the business’s stock in a transaction dated Thursday, October 15th. The stock was sold at an average price of $163.06, for a total transaction of $244,590.00. Following the completion of the transaction, the insider directly owned 70,400 shares in the company, valued at $11,479,424. This trade represents a 2.09% 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. Over the last ninety days, insiders sold 84,550 shares of company stock worth $17,426,864. 0.17% of the stock is owned by company insiders.

Booking Profile

Booking Holdings Inc is a global online travel and restaurant-reservation company that connects consumers with travel providers through digital platforms and mobile applications. Its services include accommodations, flights, rental cars, cruises, vacation packages, restaurant reservations and other travel-related offerings.

The company operates a portfolio of well-known brands, including Booking.com, Priceline, Agoda, KAYAK, OpenTable, Rentalcars.com and Kayak-associated travel services.