TIAA Trust National Association Sells 414 Shares of Booking Holdings Inc. (NASDAQ:BKNG)

TIAA Trust National Association trimmed its stake in Booking Holdings Inc. (NASDAQ:BKNG) by 9.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,073 shares of the business services provider’s stock after selling 414 shares during the period. TIAA Trust National Association’s holdings in Booking were worth $16,135,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. ICA Group Wealth Management LLC bought a new position in shares of Booking in the 4th quarter worth $25,000. Grove Bank & Trust grew its stake in Booking by 133.3% during the 2nd quarter. Grove Bank & Trust now owns 7 shares of the business services provider’s stock worth $28,000 after buying an additional 4 shares during the last quarter. POM Investment Strategies LLC purchased a new position in Booking during the 2nd quarter worth $28,000. Kings Path Partners LLC purchased a new position in Booking during the 2nd quarter worth $28,000. Finally, Financial Connections Group Inc. purchased a new position in Booking during the 2nd quarter worth $31,000. 92.42% of the stock is owned by institutional investors.

Booking Price Performance

Shares of NASDAQ:BKNG opened at $3,813.78 on Wednesday. The stock has a market cap of $129.39 billion, a P/E ratio of 28.60, a P/E/G ratio of 1.19 and a beta of 1.38. The firm has a fifty day moving average price of $3,786.51 and a 200 day moving average price of $3,698.42. Booking Holdings Inc. has a 1-year low of $2,733.04 and a 1-year high of $4,144.32.

Booking (NASDAQ:BKNG) last issued its quarterly earnings results on Thursday, August 1st. The business services provider reported $41.90 earnings per share for the quarter, topping analysts’ consensus estimates of $39.22 by $2.68. The firm had revenue of $5.86 billion during the quarter, compared to analysts’ expectations of $5.77 billion. Booking had a net margin of 22.46% and a negative return on equity of 200.87%. Booking’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $37.62 EPS. Sell-side analysts expect that Booking Holdings Inc. will post 177.09 EPS for the current fiscal year.

Booking Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 6th will be given a dividend of $8.75 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $35.00 dividend on an annualized basis and a yield of 0.92%. Booking’s payout ratio is currently 26.25%.

Wall Street Analyst Weigh In

BKNG has been the topic of several research analyst reports. Argus boosted their target price on Booking from $4,200.00 to $4,342.00 and gave the stock a “buy” rating in a research note on Tuesday, June 4th. Tigress Financial boosted their price target on Booking from $4,285.00 to $4,580.00 and gave the company a “strong-buy” rating in a research note on Tuesday, July 9th. Morgan Stanley boosted their price target on Booking from $3,700.00 to $4,000.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 23rd. HSBC boosted their price target on Booking from $4,220.00 to $4,230.00 and gave the company a “buy” rating in a research note on Tuesday, May 7th. Finally, JPMorgan Chase & Co. dropped their price target on Booking from $4,025.00 to $3,860.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Eight research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $4,068.32.

Insiders Place Their Bets

In other Booking news, CEO Glenn D. Fogel sold 750 shares of the company’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $4,067.65, for a total transaction of $3,050,737.50. Following the completion of the transaction, the chief executive officer now owns 24,721 shares in the company, valued at approximately $100,556,375.65. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Paulo Pisano sold 100 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $3,887.61, for a total value of $388,761.00. Following the completion of the transaction, the insider now owns 3,787 shares in the company, valued at approximately $14,722,379.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Glenn D. Fogel sold 750 shares of the stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $4,067.65, for a total transaction of $3,050,737.50. Following the completion of the transaction, the chief executive officer now owns 24,721 shares of the company’s stock, valued at approximately $100,556,375.65. The disclosure for this sale can be found here. 0.12% of the stock is owned by insiders.

Booking Company 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.