CCM Investment Advisers LLC Reduces Stock Position in Booking Holdings Inc. (NASDAQ:BKNG)

CCM Investment Advisers LLC decreased its holdings in shares of Booking Holdings Inc. (NASDAQ:BKNG - Free Report) by 5.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,454 shares of the business services provider's stock after selling 272 shares during the period. Booking comprises approximately 2.4% of CCM Investment Advisers LLC's investment portfolio, making the stock its 11th largest holding. CCM Investment Advisers LLC's holdings in Booking were worth $22,132,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Jamison Private Wealth Management Inc. acquired a new stake in shares of Booking in the third quarter valued at about $25,000. West Financial Advisors LLC purchased a new position in Booking in the 3rd quarter valued at about $29,000. Addison Advisors LLC boosted its holdings in Booking by 80.0% in the 3rd quarter. Addison Advisors LLC now owns 9 shares of the business services provider's stock worth $38,000 after buying an additional 4 shares during the last quarter. Fairscale Capital LLC purchased a new stake in Booking during the 2nd quarter worth approximately $41,000. Finally, Carmichael Hill & Associates Inc. raised its holdings in shares of Booking by 66.7% during the third quarter. Carmichael Hill & Associates Inc. now owns 10 shares of the business services provider's stock valued at $42,000 after acquiring an additional 4 shares during the last quarter. Institutional investors and hedge funds own 92.42% of the company's stock.

Booking Price Performance

Shares of NASDAQ BKNG traded down $132.87 during mid-day trading on Friday, hitting $4,739.55. The company had a trading volume of 306,220 shares, compared to its average volume of 229,629. The company has a market capitalization of $156.86 billion, a PE ratio of 32.16, a price-to-earnings-growth ratio of 2.11 and a beta of 1.41. The business's 50-day simple moving average is $5,060.23 and its 200 day simple moving average is $4,342.57. Booking Holdings Inc. has a 1-year low of $3,180.00 and a 1-year high of $5,337.24.

Booking Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 6th were given a $8.75 dividend. This represents a $35.00 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date was Friday, December 6th. Booking's dividend payout ratio is currently 23.75%.

Analyst Upgrades and Downgrades

Several analysts recently commented on BKNG shares. B. Riley boosted their price target on Booking from $4,650.00 to $5,100.00 and gave the stock a "buy" rating in a research report on Thursday, October 31st. JMP Securities reaffirmed a "market outperform" rating and set a $5,400.00 target price on shares of Booking in a report on Wednesday, December 11th. Benchmark reissued a "buy" rating and issued a $4,600.00 price target on shares of Booking in a research note on Tuesday, October 29th. Robert W. Baird started coverage on shares of Booking in a research note on Wednesday, November 27th. They set an "outperform" rating and a $5,850.00 price objective for the company. Finally, UBS Group raised their target price on shares of Booking from $5,050.00 to $5,550.00 and gave the stock a "buy" rating in a research note on Thursday, October 31st. Ten investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $4,972.75.

About Booking

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.