Platinum Investment Management Ltd. Sells 800 Shares of Booking Holdings Inc. (NASDAQ:BKNG)

Platinum Investment Management Ltd. cut its stake in Booking Holdings Inc. (NASDAQ:BKNG - Free Report) by 80.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 200 shares of the business services provider's stock after selling 800 shares during the period. Platinum Investment Management Ltd.'s holdings in Booking were worth $994,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. AEGON ASSET MANAGEMENT UK Plc bought a new stake in shares of Booking in the fourth quarter valued at about $25,000. New Wave Wealth Advisors LLC acquired a new position in Booking in the 4th quarter valued at approximately $25,000. Valley National Advisers Inc. lifted its position in shares of Booking by 600.0% in the 4th quarter. Valley National Advisers Inc. now owns 7 shares of the business services provider's stock worth $36,000 after acquiring an additional 6 shares during the period. Promus Capital LLC acquired a new stake in shares of Booking during the 4th quarter worth approximately $35,000. Finally, Roxbury Financial LLC bought a new stake in shares of Booking during the fourth quarter valued at approximately $42,000. 92.42% of the stock is currently owned by institutional investors and hedge funds.

Booking Trading Up 0.6 %

Booking stock traded up $28.23 during mid-day trading on Friday, hitting $4,617.26. The stock had a trading volume of 574,374 shares, compared to its average volume of 232,613. The stock has a market capitalization of $151.52 billion, a PE ratio of 26.68, a P/E/G ratio of 1.71 and a beta of 1.40. Booking Holdings Inc. has a 12 month low of $3,180.00 and a 12 month high of $5,337.24. The stock has a 50-day simple moving average of $4,789.60 and a two-hundred day simple moving average of $4,700.90.

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Booking (NASDAQ:BKNG - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The business services provider reported $41.55 EPS for the quarter, topping the consensus estimate of $35.82 by $5.73. Booking had a net margin of 24.78% and a negative return on equity of 159.34%. The company had revenue of $5.47 billion during the quarter, compared to analysts' expectations of $5.18 billion. Sell-side analysts expect that Booking Holdings Inc. will post 209.92 earnings per share for the current fiscal year.

Booking Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be paid a $9.60 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $38.40 dividend on an annualized basis and a dividend yield of 0.83%. This is an increase from Booking's previous quarterly dividend of $8.75. Booking's dividend payout ratio is 22.19%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on BKNG shares. Bank of America lifted their price target on shares of Booking from $4,850.00 to $5,522.00 and gave the stock a "neutral" rating in a research note on Wednesday, December 18th. BMO Capital Markets lifted their target price on shares of Booking from $5,155.00 to $5,900.00 and gave the company an "outperform" rating in a research report on Friday, February 21st. Oppenheimer increased their price target on shares of Booking from $5,500.00 to $6,000.00 and gave the stock an "outperform" rating in a research report on Friday, December 6th. UBS Group raised their price target on shares of Booking from $5,560.00 to $5,960.00 and gave the stock a "buy" rating in a research note on Friday, February 21st. Finally, Piper Sandler reiterated a "neutral" rating and issued a $5,120.00 price objective (up from $4,900.00) on shares of Booking in a research note on Friday, February 21st. Eleven equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus 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.