Norges Bank Takes Position in Booking Holdings Inc. (NASDAQ:BKNG)

Norges Bank bought a new stake in Booking Holdings Inc. (NASDAQ:BKNG) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 394,160 shares of the business services provider’s stock, valued at approximately $1,958,352,000.

A number of other institutional investors have also modified their holdings of BKNG. Proficio Capital Partners LLC grew its stake in shares of Booking by 621,874.8% during the fourth quarter. Proficio Capital Partners LLC now owns 864,545 shares of the business services provider’s stock worth $4,295,423,000 after purchasing an additional 864,406 shares in the last quarter. Geode Capital Management LLC raised its stake in Booking by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 797,116 shares of the business services provider’s stock valued at $3,350,605,000 after acquiring an additional 11,211 shares during the last quarter. Janus Henderson Group PLC raised its position in Booking by 0.5% during the 3rd quarter. Janus Henderson Group PLC now owns 492,274 shares of the business services provider’s stock worth $2,073,508,000 after buying an additional 2,321 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Booking by 4.1% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 296,599 shares of the business services provider’s stock valued at $1,249,311,000 after buying an additional 11,649 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of 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 acquiring an additional 4,258 shares during the period. 92.42% of the stock is owned by institutional investors and hedge funds.

Booking Price Performance

Shares of BKNG stock opened at $4,764.16 on Thursday. The company has a fifty day moving average price of $4,787.19 and a two-hundred day moving average price of $4,721.46. Booking Holdings Inc. has a one year low of $3,180.00 and a one year high of $5,337.24. The stock has a market cap of $156.34 billion, a P/E ratio of 27.53, a P/E/G ratio of 1.71 and a beta of 1.40.

Booking (NASDAQ:BKNG) last posted its quarterly earnings results on Thursday, February 20th. The business services provider reported $41.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $35.82 by $5.73. The business had revenue of $5.47 billion for the quarter, compared to analyst estimates of $5.18 billion. Booking had a net margin of 24.78% and a negative return on equity of 159.34%. As a group, equities research analysts anticipate that Booking Holdings Inc. will post 209.92 EPS for the current fiscal year.

Booking Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be given a dividend of $9.60 per share. The ex-dividend date is Friday, March 7th. This represents a $38.40 dividend on an annualized basis and a yield of 0.81%. This is a boost from Booking’s previous quarterly dividend of $8.75. Booking’s dividend payout ratio is 22.19%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. BMO Capital Markets raised their price objective on shares of Booking from $5,155.00 to $5,900.00 and gave the stock an “outperform” rating in a research note on Friday, February 21st. Wedbush increased their price objective on shares of Booking from $5,000.00 to $5,500.00 and gave the company an “outperform” rating in a research report on Monday, January 6th. Piper Sandler reiterated a “neutral” rating and issued a $5,120.00 price target (up from $4,900.00) on shares of Booking in a report on Friday, February 21st. JPMorgan Chase & Co. raised their price target on shares of Booking from $5,575.00 to $5,750.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Finally, Morgan Stanley increased their target price on shares of Booking from $4,600.00 to $5,000.00 and gave the company an “equal weight” rating in a research report on Monday, January 13th. Eleven research analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Booking has an average rating of “Moderate Buy” and an average price target of $5,370.43.

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.