Trajan Wealth LLC Boosts Stock Position in Booking Holdings Inc. (NASDAQ:BKNG)

Key Points

• Trajan Wealth LLC increased its investment in Booking Holdings Inc. by 1.7% during the first quarter, holding 6,709 shares valued at approximately $30.9 million.
• Booking reported earnings of $55.40 per share for the last quarter, exceeding expectations, with revenues of $6.80 billion, marking a 16% year-over-year increase.
• The company announced a quarterly dividend of $9.60 per share, representing an annual yield of 0.7%, with the payment set for September 30th.

Trajan Wealth LLC boosted its holdings in Booking Holdings Inc. (NASDAQ:BKNG - Free Report) by 1.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,709 shares of the business services provider's stock after buying an additional 112 shares during the quarter. Booking makes up about 1.7% of Trajan Wealth LLC's holdings, making the stock its 14th largest position. Trajan Wealth LLC's holdings in Booking were worth $30,907,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Kapitalo Investimentos Ltda purchased a new position in Booking in the fourth quarter valued at $40,000. Alpine Bank Wealth Management purchased a new position in shares of Booking during the first quarter worth about $41,000. North Capital Inc. purchased a new position in shares of Booking during the first quarter worth about $46,000. Mechanics Financial Corp purchased a new position in shares of Booking during the first quarter worth about $46,000. Finally, Minot DeBlois Advisors LLC purchased a new position in shares of Booking during the fourth quarter worth about $50,000. Hedge funds and other institutional investors own 92.42% of the company's stock.

Booking Trading Down 0.8%

BKNG stock opened at $5,364.25 on Tuesday. The firm has a 50 day moving average of $5,566.21 and a 200-day moving average of $5,105.18. Booking Holdings Inc. has a 12-month low of $3,399.27 and a 12-month high of $5,839.41. The company has a market cap of $173.86 billion, a price-to-earnings ratio of 37.31, a PEG ratio of 1.56 and a beta of 1.41.

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

Booking Announces Dividend

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

Insider Activity

In related 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 transaction of $5,769,035.00. Following the completion of the transaction, the chief executive officer directly owned 26,633 shares in the company, valued at $151,674,935. The trade was a 3.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last three months, insiders sold 3,039 shares of company stock worth $16,963,769. Insiders own 0.16% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on BKNG. Wedbush reaffirmed a "neutral" rating and set a $5,900.00 price objective on shares of Booking in a report on Wednesday, July 30th. B. Riley reaffirmed a "buy" rating and set a $6,700.00 price objective (up previously from $6,100.00) on shares of Booking in a report on Wednesday, July 30th. Piper Sandler reaffirmed a "neutral" rating and set a $5,750.00 price objective (up previously from $5,077.00) on shares of Booking in a report on Wednesday, July 30th. JPMorgan Chase & Co. raised their price objective on Booking from $5,360.00 to $6,000.00 and gave the stock an "overweight" rating in a report on Wednesday, June 4th. Finally, Citigroup raised their price objective on Booking from $5,560.00 to $6,500.00 and gave the stock a "buy" rating in a report on Wednesday, July 30th. Ten equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat.com, Booking presently has a consensus rating of "Moderate Buy" and a consensus price target of $5,781.04.

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.

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