Envestnet Asset Management Inc. Reduces Stake in Booking Holdings Inc. (NASDAQ:BKNG)

Envestnet Asset Management Inc. trimmed its position in shares of Booking Holdings Inc. (NASDAQ:BKNG) by 8.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 52,977 shares of the business services provider’s stock after selling 5,024 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.16% of Booking worth $263,210,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Proficio Capital Partners LLC raised its stake in Booking by 621,874.8% in the 4th quarter. Proficio Capital Partners LLC now owns 864,545 shares of the business services provider’s stock valued at $4,295,423,000 after purchasing an additional 864,406 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Booking by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 803,125 shares of the business services provider’s stock valued at $3,986,244,000 after buying an additional 6,009 shares in the last quarter. Norges Bank purchased a new stake in shares of Booking during the fourth quarter valued at approximately $1,958,352,000. Arrowstreet Capital Limited Partnership lifted its holdings in Booking by 51.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 280,629 shares of the business services provider’s stock worth $1,394,283,000 after buying an additional 95,308 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Booking by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 214,185 shares of the business services provider’s stock valued at $1,064,161,000 after purchasing an additional 4,258 shares in the last quarter. Institutional investors and hedge funds own 92.42% of the company’s stock.

Booking Trading Down 3.7 %

NASDAQ BKNG opened at $4,284.02 on Friday. The business has a fifty day simple moving average of $4,757.12 and a 200 day simple moving average of $4,755.12. Booking Holdings Inc. has a 12 month low of $3,180.00 and a 12 month high of $5,337.24. The firm has a market capitalization of $140.58 billion, a P/E ratio of 24.76, a PEG ratio of 1.71 and a beta of 1.40.

Booking (NASDAQ:BKNG) last posted its 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. The firm had revenue of $5.47 billion for the quarter, compared to analysts’ expectations of $5.18 billion. Booking had a net margin of 24.78% and a negative return on equity of 159.34%. As a group, sell-side analysts predict that Booking Holdings Inc. will post 209.92 EPS for the current fiscal year.

Booking Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 7th were given a $9.60 dividend. This is an increase from Booking’s previous quarterly dividend of $8.75. This represents a $38.40 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date of this dividend was Friday, March 7th. Booking’s dividend payout ratio (DPR) is currently 22.19%.

Analysts Set New Price Targets

Several analysts have issued reports on the company. StockNews.com upgraded Booking from a “hold” rating to a “buy” rating in a research note on Friday, March 28th. Citigroup boosted their target price on shares of Booking from $5,500.00 to $5,800.00 and gave the company a “buy” rating in a research note on Friday, February 21st. JPMorgan Chase & Co. increased their price target on Booking from $5,575.00 to $5,750.00 and gave the stock an “overweight” rating in a research note on Friday, February 21st. Bank of America raised their price objective on shares of Booking from $4,850.00 to $5,522.00 and gave the company a “neutral” rating in a research note on Wednesday, December 18th. Finally, UBS Group boosted 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 report on Friday, February 21st. Ten investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Booking currently has a consensus rating of “Moderate Buy” and an average price target of $5,374.90.

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.