J.Safra Asset Management Corp has reduced its holdings in Booking Holdings Inc. (NASDAQ: BKNG) by 51.4% during the second quarter of 2023. According to its latest 13F filing with the Securities and Exchange Commission, the asset management firm now owns just 17 shares of the travel services provider after selling 18 shares in the quarter. As of the recent filing, J.Safra’s investment in Booking is valued at approximately $97,000.
Several other institutional investors have made significant adjustments to their positions in Booking Holdings. Pacer Advisors Inc. dramatically increased its stake by 1,411.9% in the first quarter, now holding 112,201 shares worth around $516.9 million after acquiring an additional 104,780 shares. Similarly, AQR Capital Management LLC raised its stake by 79.4%, taking ownership of 154,206 shares valued at $695.3 million. Other notable increases include TD Asset Management Inc., which boosted its stake by 182.2%, and Mitsubishi UFJ Asset Management Co. Ltd., which increased its holdings by 27.8%.
The trend among institutional investors reflects a growing confidence in Booking Holdings, with approximately 92.42% of the company’s stock now held by institutional investors and hedge funds.
Current Stock Performance and Dividend Announcements
As of October 6, 2023, Booking Holdings’ stock opened at $5,280.14. The company maintains a fifty-day moving average price of $5,484.50 and a two-hundred-day moving average of $5,329.08. Booking Holdings boasts a market capitalization of $171.13 billion, a price-to-earnings ratio of 36.72, and a beta of 1.35. The stock has fluctuated within a fifty-two week range from a low of $4,096.23 to a high of $5,839.41.
In addition to stock performance, Booking Holdings recently declared a quarterly dividend of $9.60 per share, which was paid on September 30, 2023. Investors of record as of September 5, 2023 received this dividend, which translates to an annualized dividend of $38.40 and a dividend yield of 0.7%. The company’s current dividend payout ratio stands at 26.71%.
Analyst Ratings and Insider Transactions
Recent evaluations from analysts indicate a range of perspectives on Booking Holdings. Wells Fargo & Company has raised its price target from $5,418.00 to $5,443.00, maintaining an “equal weight” rating. HSBC Global Research upgraded its rating to “strong buy,” while Evercore ISI set a new price target of $6,250.00, labeling the stock as “outperform.” Additionally, BTIG Research reiterated a “buy” rating with a target price of $6,250.00.
Currently, three investment analysts have rated Booking Holdings as a “Strong Buy,” nineteen have assigned a “Buy” rating, and eleven have given it a “Hold” rating. The consensus among analysts, based on data from MarketBeat.com, reflects an average rating of “Moderate Buy” with a target price of approximately $5,808.81.
In related news, insider transactions have also been noteworthy. Director Larry Quinlan sold 64 shares at an average price of $5,511.80 on September 15, 2023, resulting in a total transaction value of $352,755.20. Following this sale, Quinlan retains 131 shares valued at approximately $722,045.80, representing a 32.82% decrease in his position.
Director Vanessa Ames Wittman also sold 15 shares on the same date for a total of $82,500.00, leaving her with 747 shares valued at around $4,108,500.
Insider selling activity has totaled 2,169 shares worth approximately $11.9 million over the past ninety days, with insiders holding 0.16% of the company’s stock.
Booking Holdings Inc., formerly known as The Priceline Group Inc., specializes in online travel and restaurant reservation services, connecting consumers with travel service providers worldwide.
