Frank Rimerman Advisors LLC Grows Position in Booking Holdings Inc. (NASDAQ:BKNG)

Frank Rimerman Advisors LLC lifted its position in Booking Holdings Inc. (NASDAQ:BKNG) by 64.9% in the fourth quarter, HoldingsChannel reports. The firm owned 437 shares of the business services provider’s stock after buying an additional 172 shares during the period. Frank Rimerman Advisors LLC’s holdings in Booking were worth $2,171,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Mogy Joel R Investment Counsel Inc. grew its holdings in shares of Booking by 16.4% in the fourth quarter. Mogy Joel R Investment Counsel Inc. now owns 1,876 shares of the business services provider’s stock valued at $9,321,000 after purchasing an additional 264 shares during the period. Nordea Investment Management AB grew its holdings in shares of Booking by 5.1% in the fourth quarter. Nordea Investment Management AB now owns 179,902 shares of the business services provider’s stock valued at $896,455,000 after purchasing an additional 8,735 shares during the period. Sequoia Financial Advisors LLC lifted its position in Booking by 20.3% in the fourth quarter. Sequoia Financial Advisors LLC now owns 905 shares of the business services provider’s stock valued at $4,495,000 after buying an additional 153 shares during the last quarter. Crossmark Global Holdings Inc. lifted its position in Booking by 6.7% in the fourth quarter. Crossmark Global Holdings Inc. now owns 5,869 shares of the business services provider’s stock valued at $29,160,000 after buying an additional 368 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its position in Booking by 5.3% in the third quarter. Principal Financial Group Inc. now owns 39,597 shares of the business services provider’s stock valued at $166,787,000 after buying an additional 2,010 shares during the last quarter. Hedge funds and other institutional investors own 92.42% of the company’s stock.

Booking Price Performance

BKNG opened at $4,465.48 on Friday. The stock’s 50 day simple moving average is $4,816.74 and its 200 day simple moving average is $4,671.52. Booking Holdings Inc. has a 1-year low of $3,180.00 and a 1-year high of $5,337.24. The stock has a market cap of $146.53 billion, a P/E ratio of 25.81, 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 EPS for the quarter, topping analysts’ consensus estimates of $35.82 by $5.73. The business had revenue of $5.47 billion during the quarter, compared to the consensus estimate of $5.18 billion. Booking had a negative return on equity of 159.34% and a net margin of 24.78%. Research analysts expect that Booking Holdings Inc. will post 209.92 EPS for the current fiscal year.

Booking Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 7th will be paid a $9.60 dividend. This is an increase from Booking’s previous quarterly dividend of $8.75. This represents a $38.40 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date is Friday, March 7th. Booking’s payout ratio is presently 22.19%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on BKNG shares. JPMorgan Chase & Co. upped their target price on shares of Booking from $5,575.00 to $5,750.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Barclays upped their target price on shares of Booking from $5,100.00 to $5,600.00 and gave the company an “overweight” rating in a research report on Friday, February 21st. Royal Bank of Canada increased their price target on shares of Booking from $5,250.00 to $5,900.00 and gave the stock an “outperform” rating in a research report on Friday, February 21st. Cfra raised shares of Booking from a “hold” rating to a “buy” rating in a research report on Tuesday, February 18th. Finally, Baird R W raised shares of Booking to a “strong-buy” rating in a research report on Wednesday, November 27th. Nine investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price 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.