Assetmark Inc. Buys 3,980 Shares of Booking Holdings Inc. (NASDAQ:BKNG)

Assetmark Inc. increased its stake in Booking Holdings Inc. (NASDAQ:BKNG) by 380.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,027 shares of the business services provider’s stock after purchasing an additional 3,980 shares during the period. Assetmark Inc.’s holdings in Booking were worth $24,975,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of BKNG. Chicago Partners Investment Group LLC bought a new position in shares of Booking in the third quarter worth approximately $315,000. Janney Montgomery Scott LLC grew its position in Booking by 6.3% during the third quarter. Janney Montgomery Scott LLC now owns 2,357 shares of the business services provider’s stock valued at $9,928,000 after acquiring an additional 139 shares during the last quarter. QRG Capital Management Inc. grew its position in Booking by 2.3% during the third quarter. QRG Capital Management Inc. now owns 744 shares of the business services provider’s stock valued at $3,134,000 after acquiring an additional 17 shares during the last quarter. Pittenger & Anderson Inc. grew its position in Booking by 88.6% during the third quarter. Pittenger & Anderson Inc. now owns 628 shares of the business services provider’s stock valued at $2,645,000 after acquiring an additional 295 shares during the last quarter. Finally, HF Advisory Group LLC grew its position in Booking by 11.2% during the third quarter. HF Advisory Group LLC now owns 900 shares of the business services provider’s stock valued at $3,791,000 after acquiring an additional 91 shares during the last quarter. 92.42% of the stock is currently owned by institutional investors.

Booking Trading Up 0.4 %

Shares of BKNG stock opened at $4,917.46 on Thursday. Booking Holdings Inc. has a 12 month low of $3,180.00 and a 12 month high of $5,337.24. The stock has a market cap of $161.37 billion, a PE ratio of 28.42, a price-to-earnings-growth ratio of 1.71 and a beta of 1.39. The company’s fifty day moving average price is $4,887.85 and its 200-day moving average price is $4,642.68.

Booking (NASDAQ:BKNG) last announced its earnings results on Thursday, February 20th. The business services provider reported $41.55 EPS for the quarter, beating analysts’ consensus estimates of $35.82 by $5.73. Booking had a net margin of 24.78% and a negative return on equity of 159.34%. The firm had revenue of $5.47 billion for the quarter, compared to analysts’ expectations of $5.18 billion. On average, sell-side analysts forecast that Booking Holdings Inc. will post 209.92 earnings per share for the current fiscal year.

Booking Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 7th will be given a $9.60 dividend. This represents a $38.40 annualized dividend and a dividend yield of 0.78%. The ex-dividend date is Friday, March 7th. This is a positive change from Booking’s previous quarterly dividend of $8.75. Booking’s payout ratio is currently 22.19%.

Wall Street Analyst Weigh In

A number of research analysts have commented on BKNG shares. Benchmark increased their price target on shares of Booking from $5,000.00 to $5,900.00 and gave the company a “buy” rating in a research report on Friday, February 21st. JMP Securities reiterated a “market outperform” rating and set a $5,400.00 price target on shares of Booking in a research report on Wednesday, December 11th. Mizuho increased their price target on shares of Booking from $5,400.00 to $6,000.00 and gave the company an “outperform” rating in a research report on Thursday, December 19th. Piper Sandler reissued a “neutral” rating and set a $5,120.00 price objective (up previously from $4,900.00) on shares of Booking in a research note on Friday, February 21st. Finally, JPMorgan Chase & Co. increased their price objective on Booking from $5,575.00 to $5,750.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Nine research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Booking has an average rating of “Moderate Buy” and a consensus target price of $5,370.43.

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.