Empower Advisory Group LLC Reduces Position in Booking Holdings Inc. (NASDAQ:BKNG)

Key Points

• Empower Advisory Group LLC has reduced its stake in Booking Holdings Inc. by 3.5%, now holding shares valued at $23.86 million.
• Booking reported earnings of $55.40 per share, surpassing estimates by $5.08, with quarterly revenue reaching $6.80 billion, a 16% increase year-over-year.
• The company announced a quarterly dividend of $9.60 per share, with an ex-dividend date of September 5th, reflecting a 0.7% dividend yield.

Empower Advisory Group LLC lessened its stake in shares of Booking Holdings Inc. (NASDAQ:BKNG - Free Report) by 3.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,180 shares of the business services provider's stock after selling 186 shares during the quarter. Empower Advisory Group LLC's holdings in Booking were worth $23,862,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. GAMMA Investing LLC grew its stake in Booking by 521,609.7% in the first quarter. GAMMA Investing LLC now owns 2,363,345 shares of the business services provider's stock valued at $10,887,718,000 after purchasing an additional 2,362,892 shares during the last quarter. Pacer Advisors Inc. lifted its position in shares of Booking by 1,411.9% during the first quarter. Pacer Advisors Inc. now owns 112,201 shares of the business services provider's stock valued at $516,900,000 after buying an additional 104,780 shares during the last quarter. TD Asset Management Inc boosted its holdings in shares of Booking by 182.2% in the 1st quarter. TD Asset Management Inc now owns 104,643 shares of the business services provider's stock valued at $482,081,000 after buying an additional 67,562 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Booking by 18.8% in the 4th quarter. Northern Trust Corp now owns 368,628 shares of the business services provider's stock valued at $1,831,499,000 after buying an additional 58,357 shares in the last quarter. Finally, Winslow Capital Management LLC grew its position in shares of Booking by 132.7% in the 4th quarter. Winslow Capital Management LLC now owns 88,754 shares of the business services provider's stock worth $440,967,000 after buying an additional 50,605 shares during the last quarter. Institutional investors own 92.42% of the company's stock.

Booking Price Performance

NASDAQ BKNG traded down $26.19 during trading hours on Friday, reaching $5,405.91. The company's stock had a trading volume of 186,426 shares, compared to its average volume of 199,192. The firm has a market capitalization of $175.21 billion, a price-to-earnings ratio of 37.60, a P/E/G ratio of 1.57 and a beta of 1.41. The company's 50-day moving average is $5,569.71 and its two-hundred day moving average is $5,095.71. Booking Holdings Inc. has a 1-year low of $3,394.85 and a 1-year high of $5,839.41.

Booking (NASDAQ:BKNG - Get Free Report) last announced its earnings results on Tuesday, July 29th. The business services provider reported $55.40 earnings per share for the quarter, topping the consensus estimate of $50.32 by $5.08. Booking had a negative return on equity of 134.19% and a net margin of 19.23%. The business had revenue of $6.80 billion during the quarter, compared to the consensus estimate of $6.54 billion. During the same period in the prior year, the company posted $41.90 EPS. The business's quarterly revenue was up 16.0% on a year-over-year basis. Equities analysts forecast that Booking Holdings Inc. will post 209.92 EPS for the current fiscal year.

Booking Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Friday, September 5th will be issued a $9.60 dividend. This represents a $38.40 annualized dividend and a yield of 0.7%. The ex-dividend date is Friday, September 5th. Booking's payout ratio is presently 26.71%.

Wall Street Analyst Weigh In

A number of research firms recently commented on BKNG. Wall Street Zen raised shares of Booking from a "hold" rating to a "buy" rating in a research report on Wednesday, April 30th. Robert W. Baird upped their price target on Booking from $5,550.00 to $5,700.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 30th. Cantor Fitzgerald reissued a "neutral" rating on shares of Booking in a research report on Wednesday, July 30th. Barclays upped their target price on Booking from $5,700.00 to $6,000.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. Finally, DA Davidson increased their price target on Booking from $5,750.00 to $6,500.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. Ten analysts have rated the stock with a hold rating, twenty have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $5,781.04.

Insider Transactions at Booking

In other news, CEO Glenn D. Fogel sold 1,013 shares of Booking stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $5,695.00, for a total value of $5,769,035.00. Following the sale, the chief executive officer directly owned 26,633 shares of the company's stock, valued at $151,674,935. The trade was a 3.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In the last 90 days, insiders sold 3,039 shares of company stock valued at $16,963,769. Insiders own 0.16% of the company's stock.

Booking Company 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.