Fisher Asset Management Increases Stake in Booking Holdings

Fisher Asset Management LLC has raised its stake in Booking Holdings Inc. (NASDAQ:BKNG) by 0.2% during the fourth quarter, as reported in a recent filing with the Securities and Exchange Commission (SEC). After acquiring an additional 717 shares, the institutional investor now owns 419,459 shares of the online travel service company, which are valued at approximately $2.08 billion. This accounts for about 1.27% of Booking's total outstanding shares.

Other institutional investors and hedge funds have also been active in the market, adjusting their positions in Booking. Notably, Proficio Capital Partners LLC increased its holdings by an astonishing 621,874.8% in the fourth quarter, now owning 864,545 shares worth around $4.3 billion following the acquisition of an additional 864,406 shares. Similarly, Icon Wealth Advisors LLC saw a dramatic increase of 342,723.5% in its holdings during the third quarter, bringing its total to 233,120 shares valued at approximately $981.9 million.

Empirical Asset Management LLC initiated a new investment in Booking during the fourth quarter, adding a position worth about $207.1 million. Bryn Mawr Capital Management LLC also increased its stake significantly by 3,940.8%, acquiring an additional 37,477 shares to reach a total of 38,428 shares valued at $190.9 million. In another move, Harvard Management Co. Inc. opened a new position worth around $155.4 million during the third quarter. Currently, institutional investors own 92.42% of Booking's shares.

Booking Holdings’ Stock Overview

On Friday, Booking Holdings shares opened at $5,016.01, with a market capitalization of $164.60 billion. The company’s price-to-earnings (P/E) ratio stands at 28.99, and it has a beta of 1.39. Over the past year, Booking's share price has fluctuated between a low of $3,180.00 and a high of $5,337.24. The firm recorded a fifty-day moving average of $4,898.79 and a two-hundred day moving average of $4,607.88.

Recent Earnings and Dividend Announcement

Booking recently reported its quarterly earnings on February 20th, where it exceeded the analysts' expectations. The company recorded earnings per share of $41.55, which was above the anticipated $35.82, marking a significant positive variance. The net margin for Booking stood at 24.78%, though it reported a negative return on equity of 159.34%. The revenue for this quarter reached approximately $5.47 billion, surpassing the expectations of $5.18 billion.

Additionally, Booking announced a quarterly dividend of $9.60 per share, to be paid on March 31st to shareholders on record as of March 7th. This increase from the previous dividend of $8.75 translates to an annualized dividend yield of 0.77%, with a dividend payout ratio of 22.19%.

Analyst Ratings

Recent reviews from financial analysts regarding Booking's stock reflect a generally positive outlook. Truist Financial revised their price target for Booking from $4,100.00 to $4,700.00, while issuing a "hold" rating. Cfra upgraded the stock from "hold" to "buy," and JPMorgan Chase & Co. increased their price target from $5,575.00 to $5,750.00, also rating it as "overweight." UBS Group raised their target from $5,560.00 to $5,960.00 with a "buy" recommendation. The Goldman Sachs Group also increased its target from $3,940.00 to $4,510.00, maintaining a "neutral" rating. Overall, the consensus among analysts gives Booking a moderate buy rating with an average price target of $5,370.43.

Company Profile

Booking Holdings Inc., formerly known as The Priceline Group Inc., is a leading provider of online reservation and associated services in travel and dining. Through its various brands including Booking.com, Priceline.com, and Agoda.com, the company connects travelers with various service providers worldwide, offering a wide range of accommodations such as hotels, hostels, vacation rentals, and more.

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