Avidian Wealth Enterprises LLC Buys 8,911 Shares of Booking Holdings Inc. $BKNG

Key Points

• Avidian Wealth Enterprises increased its Booking Holdings stake by 2,644.2% in the second quarter, acquiring 8,911 additional shares and ending with a position valued at approximately $1.65 million. Institutional investors collectively own 92.42% of BKNG.
• Booking reported quarterly earnings of $2.54 per share, exceeding estimates of $2.43, while revenue reached $7.35 billion, up 8.1% year over year and above expectations.
• Analysts maintain a generally positive outlook, with Booking receiving a “Moderate Buy” consensus rating and an average price target of $235.72 versus a reported share price of $212.06. The company also declared a quarterly dividend of $0.42 per share, yielding 0.8%.

Avidian Wealth Enterprises LLC grew its stake in Booking Holdings Inc. (NASDAQ:BKNG - Free Report) by 2,644.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,248 shares of the business services provider's stock after acquiring an additional 8,911 shares during the quarter. Avidian Wealth Enterprises LLC's holdings in Booking were worth $1,648,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. D.A. Davidson & CO. lifted its position in Booking by 2,277.6% during the second quarter. D.A. Davidson & CO. now owns 4,779 shares of the business services provider's stock valued at $852,000 after acquiring an additional 4,578 shares during the last quarter. Columbia Bank grew its holdings in Booking by 2,841.2% in the second quarter. Columbia Bank now owns 2,000 shares of the business services provider's stock worth $356,000 after purchasing an additional 1,932 shares during the last quarter. Benjamin Edwards Inc. increased its position in shares of Booking by 2,956.0% during the second quarter. Benjamin Edwards Inc. now owns 22,064 shares of the business services provider's stock worth $3,933,000 after purchasing an additional 21,342 shares in the last quarter. XML Financial LLC increased its position in shares of Booking by 2,530.5% during the second quarter. XML Financial LLC now owns 4,577 shares of the business services provider's stock worth $816,000 after purchasing an additional 4,403 shares in the last quarter. Finally, Penobscot Investment Management Company Inc. lifted its holdings in shares of Booking by 2,968.3% during the 2nd quarter. Penobscot Investment Management Company Inc. now owns 15,096 shares of the business services provider's stock valued at $2,691,000 after purchasing an additional 14,604 shares during the last quarter. 92.42% of the stock is owned by institutional investors.

Booking Trading Down 0.6%

Shares of NASDAQ:BKNG opened at $212.06 on Friday. Booking Holdings Inc. has a twelve month low of $150.14 and a twelve month high of $231.80. The company's 50 day moving average is $184.00 and its 200 day moving average is $176.84. The company has a market cap of $159.34 billion, a PE ratio of 23.47, a price-to-earnings-growth ratio of 1.28 and a beta of 1.07.

Booking (NASDAQ:BKNG - Get Free Report) last announced its quarterly earnings data on Monday, August 3rd. The business services provider reported $2.54 EPS for the quarter, beating the consensus estimate of $2.43 by $0.11. The business had revenue of $7.35 billion during the quarter, compared to analysts' expectations of $7.19 billion. Booking had a net margin of 25.53% and a negative return on equity of 102.96%. The business's quarterly revenue was up 8.1% compared to the same quarter last year. During the same period in the previous year, the business posted $55.40 EPS. Equities research analysts predict that Booking Holdings Inc. will post 10.47 earnings per share for the current fiscal year.

Booking Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Friday, September 11th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Friday, September 11th. Booking's dividend payout ratio (DPR) is currently 18.58%.

Insider Buying and Selling

In other Booking news, Director Robert J. Mylod, Jr. sold 5,000 shares of Booking stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $200.00, for a total transaction of $1,000,000.00. Following the completion of the transaction, the director owned 16,000 shares in the company, valued at approximately $3,200,000. This trade represents a 23.81% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Peter J. Millones sold 62,500 shares of the business's stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $163.67, for a total value of $10,229,375.00. Following the completion of the transaction, the vice president directly owned 425,075 shares of the company's stock, valued at approximately $69,572,025.25. This trade represents a 12.82% decrease in their position. 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 90 days, insiders have sold 89,625 shares of company stock worth $15,872,675. Corporate insiders own 0.17% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on BKNG shares. Gordon Haskett raised their price objective on Booking from $217.00 to $220.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. UBS Group upped their target price on Booking from $266.00 to $274.00 and gave the company a "buy" rating in a research report on Wednesday, August 5th. Mizuho set a $240.00 price target on Booking in a research note on Wednesday, August 5th. Evercore set a $245.00 price target on Booking in a report on Wednesday, April 29th. Finally, Cantor Fitzgerald boosted their price target on Booking from $175.00 to $220.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Booking currently has an average rating of "Moderate Buy" and an average price target of $235.72.

About Booking

Booking Holdings Inc is a global online travel company that operates a portfolio of consumer brands and technology platforms that facilitate the search for and booking of travel services. The company's businesses focus on accommodations, transportation and related travel services through consumer-facing websites and apps as well as partner distribution channels. Booking Holdings was originally founded as Priceline in the late 1990s and adopted the Booking Holdings name in 2018; it is headquartered in Norwalk, Connecticut.

Its core offerings include online reservations for hotels, vacation rentals and other lodging; flight and car rental search and booking; and ancillary services that support travel planning and on-property experiences.

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