Sumitomo Life Insurance Co. Trims Position in Booking Holdings Inc. $BKNG

Sumitomo Life Insurance Co. lessened its stake in shares of Booking Holdings Inc. (NASDAQ:BKNG) by 3.9% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,122 shares of the business services provider’s stock after selling 45 shares during the period. Sumitomo Life Insurance Co.’s holdings in Booking were worth $6,496,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of BKNG. Wealth Preservation Advisors LLC purchased a new position in shares of Booking during the 1st quarter worth $28,000. Atwood & Palmer Inc. purchased a new position in shares of Booking during the 2nd quarter worth $29,000. Keystone Global Partners LLC purchased a new position in shares of Booking during the 1st quarter worth $32,000. O Brien Wealth Partners LLC purchased a new position in shares of Booking during the 2nd quarter worth $35,000. Finally, First PREMIER Bank raised its holdings in Booking by 100.0% in the 2nd quarter. First PREMIER Bank now owns 6 shares of the business services provider’s stock valued at $35,000 after buying an additional 3 shares during the period. Hedge funds and other institutional investors own 92.42% of the company’s stock.

Insider Buying and Selling at Booking

In other news, Director Vanessa Ames Wittman sold 15 shares of the business’s stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $5,291.98, for a total transaction of $79,379.70. Following the completion of the transaction, the director directly owned 732 shares of the company’s stock, valued at approximately $3,873,729.36. The trade was a 2.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Larry Quinlan sold 64 shares of the business’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $5,511.80, for a total value of $352,755.20. Following the transaction, the director directly owned 131 shares of the company’s stock, valued at approximately $722,045.80. This represents a 32.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 3,197 shares of company stock valued at $17,260,963 in the last three months. 0.16% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently issued reports on BKNG shares. Morgan Stanley set a $6,150.00 price objective on shares of Booking in a report on Wednesday. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Booking from $6,723.00 to $6,790.00 and gave the company a “buy” rating in a report on Tuesday, October 21st. Gordon Haskett reduced their price objective on shares of Booking from $5,680.00 to $5,620.00 and set a “hold” rating on the stock in a report on Wednesday. Robert W. Baird set a $6,325.00 price objective on shares of Booking in a report on Wednesday. Finally, Wells Fargo & Company boosted their price objective on shares of Booking from $5,443.00 to $5,523.00 and gave the company an “equal weight” rating in a report on Wednesday. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and ten have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $6,121.23.

Booking Price Performance

NASDAQ BKNG opened at $5,077.74 on Friday. The company has a market cap of $164.57 billion, a P/E ratio of 33.00, a P/E/G ratio of 1.57 and a beta of 1.35. The stock has a 50-day moving average of $5,381.21 and a two-hundred day moving average of $5,393.18. Booking Holdings Inc. has a 1-year low of $4,096.23 and a 1-year high of $5,839.41.

Booking (NASDAQ:BKNG) last released its earnings results on Tuesday, October 28th. The business services provider reported $99.50 earnings per share for the quarter, beating the consensus estimate of $95.56 by $3.94. The company had revenue of $9.01 billion during the quarter, compared to the consensus estimate of $8.71 billion. Booking had a negative return on equity of 134.86% and a net margin of 19.37%.Booking’s revenue was up 12.7% compared to the same quarter last year. During the same period in the previous year, the company posted $83.39 EPS. Booking has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. On average, analysts anticipate that Booking Holdings Inc. will post 209.92 EPS for the current fiscal year.

Booking Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Friday, December 5th will be given a $9.60 dividend. This represents a $38.40 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Friday, December 5th. Booking’s payout ratio is currently 24.96%.

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.