Booking Holdings Inc. (NASDAQ:BKNG) Stake Cut by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC reduced its stake in shares of Booking Holdings Inc. (NASDAQ:BKNG - Free Report) by 11.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,129 shares of the business services provider's stock after selling 4,849 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.11% of Booking worth $173,977,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Kingswood Wealth Advisors LLC grew its stake in Booking by 27.3% during the 1st quarter. Kingswood Wealth Advisors LLC now owns 182 shares of the business services provider's stock worth $844,000 after buying an additional 39 shares during the last quarter. Point72 Europe London LLP bought a new position in Booking during the 4th quarter worth $15,054,000. Sequoia Financial Advisors LLC grew its stake in Booking by 20.3% during the 4th quarter. Sequoia Financial Advisors LLC now owns 905 shares of the business services provider's stock worth $4,495,000 after buying an additional 153 shares during the last quarter. Catalyst Funds Management Pty Ltd bought a new position in Booking during the 4th quarter worth $994,000. Finally, Quadrant Capital Group LLC grew its stake in Booking by 1.4% during the 4th quarter. Quadrant Capital Group LLC now owns 210 shares of the business services provider's stock worth $1,043,000 after buying an additional 3 shares during the last quarter. 92.42% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on BKNG shares. UBS Group lowered their price objective on Booking from $5,960.00 to $5,557.00 and set a "buy" rating for the company in a research note on Monday, April 28th. Morgan Stanley decreased their price target on Booking from $5,000.00 to $4,800.00 and set an "equal weight" rating for the company in a research note on Thursday, April 17th. Royal Bank Of Canada reissued an "outperform" rating and issued a $5,900.00 price target on shares of Booking in a research note on Wednesday, April 30th. Wall Street Zen raised Booking from a "hold" rating to a "buy" rating in a research note on Wednesday, April 30th. Finally, Erste Group Bank cut Booking from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 17th. Ten analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $5,388.37.

Booking Stock Up 1.7%

Shares of NASDAQ BKNG traded up $97.13 during mid-day trading on Friday, hitting $5,693.13. 297,425 shares of the company traded hands, compared to its average volume of 248,126. Booking Holdings Inc. has a 1 year low of $3,180.00 and a 1 year high of $5,711.48. The stock has a market capitalization of $185.25 billion, a price-to-earnings ratio of 35.42, a PEG ratio of 1.77 and a beta of 1.41. The business has a 50 day moving average of $5,274.77 and a two-hundred day moving average of $4,954.74.

Booking (NASDAQ:BKNG - Get Free Report) last announced its earnings results on Tuesday, April 29th. The business services provider reported $24.81 EPS for the quarter, beating the consensus estimate of $17.57 by $7.24. The business had revenue of $4.76 billion during the quarter, compared to the consensus estimate of $4.58 billion. Booking had a negative return on equity of 143.67% and a net margin of 22.58%. Booking's revenue was up 7.9% compared to the same quarter last year. During the same period in the prior year, the business posted $20.39 earnings per share. As a group, research analysts anticipate that Booking Holdings Inc. will post 209.92 EPS for the current year.

Booking Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 6th will be given a $9.60 dividend. The ex-dividend date of this dividend is Friday, June 6th. This represents a $38.40 annualized dividend and a dividend yield of 0.67%. Booking's dividend payout ratio (DPR) is presently 23.89%.

Insider Transactions at Booking

In related news, CEO Glenn D. Fogel sold 1,013 shares of the stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $5,356.07, for a total value of $5,425,698.91. Following the completion of the sale, the chief executive officer now directly owns 27,646 shares of the company's stock, valued at approximately $148,073,911.22. This represents a 3.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.16% of the stock is currently owned by insiders.

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.