Summit Financial LLC Purchases 87 Shares of Booking Holdings Inc. (NASDAQ:BKNG)

Summit Financial LLC lifted its holdings in Booking Holdings Inc. (NASDAQ:BKNG) by 29.0% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 387 shares of the business services provider’s stock after purchasing an additional 87 shares during the period. Summit Financial LLC’s holdings in Booking were worth $1,923,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in BKNG. AEGON ASSET MANAGEMENT UK Plc purchased a new position in shares of Booking during the 4th quarter valued at about $25,000. New Wave Wealth Advisors LLC purchased a new position in Booking during the fourth quarter valued at approximately $25,000. Summit Securities Group LLC bought a new position in shares of Booking in the fourth quarter worth approximately $30,000. Promus Capital LLC purchased a new stake in shares of Booking in the fourth quarter worth $35,000. Finally, Valley National Advisers Inc. raised its position in shares of Booking by 600.0% during the 4th quarter. Valley National Advisers Inc. now owns 7 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 6 shares during the period. Hedge funds and other institutional investors own 92.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on BKNG. Wedbush upped their target price on shares of Booking from $5,000.00 to $5,500.00 and gave the stock an “outperform” rating in a report on Monday, January 6th. Oppenheimer upped their price objective on Booking from $5,500.00 to $6,000.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Piper Sandler reissued a “neutral” rating and set a $5,120.00 target price (up previously from $4,900.00) on shares of Booking in a research note on Friday, February 21st. UBS Group upped their price target on Booking from $5,560.00 to $5,960.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Finally, Bank of America lifted 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 report on Wednesday, December 18th. Ten equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $5,370.43.

Booking Price Performance

Shares of NASDAQ BKNG opened at $4,685.75 on Wednesday. Booking Holdings Inc. has a 1 year low of $3,180.00 and a 1 year high of $5,337.24. The firm has a 50-day simple moving average of $4,772.68 and a two-hundred day simple moving average of $4,750.56. The company has a market cap of $153.76 billion, a P/E ratio of 27.08, a PEG ratio of 1.71 and a beta of 1.40.

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

Booking Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 7th were issued a $9.60 dividend. The ex-dividend date of this dividend was Friday, March 7th. This is a boost from Booking’s previous quarterly dividend of $8.75. This represents a $38.40 dividend on an annualized basis and a dividend yield of 0.82%. Booking’s dividend payout ratio is presently 22.19%.

Booking 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.