Intech Investment Management LLC Decreases Holdings in Booking Holdings Inc. (NASDAQ:BKNG)

Intech Investment Management LLC reduced its stake in Booking Holdings Inc. (NASDAQ:BKNG) by 56.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 3,226 shares of the business services provider’s stock after selling 4,205 shares during the period. Intech Investment Management LLC’s holdings in Booking were worth $16,028,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. AEGON ASSET MANAGEMENT UK Plc purchased a new position in Booking in the 4th quarter worth approximately $25,000. New Wave Wealth Advisors LLC bought a new stake in shares of Booking in the 4th quarter worth approximately $25,000. Valley National Advisers Inc. grew its position in shares of Booking by 600.0% in the 4th quarter. Valley National Advisers Inc. now owns 7 shares of the business services provider’s stock worth $36,000 after buying an additional 6 shares during the last quarter. Promus Capital LLC bought a new stake in shares of Booking in the 4th quarter worth approximately $35,000. Finally, Roxbury Financial LLC bought a new stake in shares of Booking during the fourth quarter valued at approximately $42,000. 92.42% of the stock is owned by hedge funds and other institutional investors.

Booking Stock Up 2.2 %

Booking stock opened at $4,563.39 on Tuesday. The stock has a market capitalization of $149.75 billion, a PE ratio of 26.37, a price-to-earnings-growth ratio of 1.71 and a beta of 1.40. Booking Holdings Inc. has a twelve month low of $3,180.00 and a twelve month high of $5,337.24. The company has a 50 day moving average of $4,809.82 and a 200-day moving average of $4,687.26.

Booking (NASDAQ:BKNG) last announced 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 business had revenue of $5.47 billion during 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%. Equities analysts anticipate that Booking Holdings Inc. will post 209.92 EPS for the current fiscal year.

Booking Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 7th will be given a dividend of $9.60 per share. This represents a $38.40 dividend on an annualized basis and a yield of 0.84%. This is a positive change from Booking’s previous quarterly dividend of $8.75. The ex-dividend date of this dividend is Friday, March 7th. Booking’s dividend payout ratio (DPR) is currently 22.19%.

Analysts Set New Price Targets

A number of brokerages have issued reports on BKNG. BMO Capital Markets lifted their price objective on Booking from $5,155.00 to $5,900.00 and gave the company an “outperform” rating in a research note on Friday, February 21st. Bank of America boosted their price target on Booking from $4,850.00 to $5,522.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 18th. Robert W. Baird initiated coverage on Booking in a research note on Wednesday, November 27th. They issued an “outperform” rating and a $5,850.00 price target for the company. B. Riley upped their price objective on Booking from $5,700.00 to $6,000.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Finally, Citigroup boosted their price target on Booking from $5,500.00 to $5,800.00 and gave the company a “buy” rating in a report on Friday, February 21st. Nine research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $5,370.43.

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.