OneAscent Wealth Management LLC Reduces Stake in Booking Holdings Inc.

During the fourth quarter, OneAscent Wealth Management LLC significantly reduced its investment in Booking Holdings Inc. (NASDAQ:BKNG) by 65.8%, as per the latest filing with the Securities and Exchange Commission (SEC). After selling 125 shares during the quarter, the firm now holds 65 shares of the travel and services provider, with a total value of $323,000 at the end of the quarter.

Changes in Institutional Investors

Other institutional investors have also made adjustments to their positions in Booking. D.A. Davidson & Co. increased its stake by 13.0% during the third quarter, now owning 208 shares valued at $876,000 after acquiring 24 additional shares. CreativeOne Wealth LLC also entered the scene by purchasing a new stake worth approximately $666,000. Furthermore, Fiduciary Trust Co. raised its holdings by 16.6%, now owning 1,482 shares valued at $6,244,000 after an addition of 211 shares. Icon Wealth Advisors LLC upped its investment by 22.1%, owning 83 shares worth $350,000 following a purchase of 15 shares. Lastly, Infusive Asset Management Inc. boosted its stake by an impressive 75.9%, now holding 1,196 shares valued at $5,038,000 after buying 516 shares. Collectively, institutional investors and hedge funds now control approximately 92.42% of Booking's stock.

Analyst Activity

Several analysts have recently commented on Booking Holdings. On February 21st, JPMorgan Chase & Co. raised their price target from $5,575.00 to $5,750.00, with an "overweight" rating assigned to the stock. Similarly, Cfra upgraded its recommendation from "hold" to "buy" on February 18th. Piper Sandler maintained a "neutral" rating while increasing their price target from $4,900.00 to $5,120.00 in a February 21st report. Citigroup moved their price objective from $5,500.00 to $5,800.00 and rated the stock as a "buy." Additionally, Cantor Fitzgerald raised their target price from $4,900.00 to $5,540.00. The general consensus among analysts shows ten hold ratings, twenty buy ratings, and two strong buy ratings, leading to an average target price set at $5,370.43, indicating a "Moderate Buy" sentiment.

Current Stock Performance

As of the latest trading session, Booking’s stock opened at $4,634.24, with a market capitalization of $152.07 billion. The stock has a 50-day simple moving average of $4,779.09 and a 200-day simple moving average of $4,727.45. Over the past twelve months, Booking has seen its stock reach a low of $3,180.00 and a high of $5,337.24.

Financial Highlights

On February 20th, Booking released its quarterly earnings report, showing an earnings per share (EPS) of $41.55, surpassing analysts' expectations which estimated a $35.82 EPS. The company also reported revenue of $5.47 billion, exceeding the projections of $5.18 billion. Analysts predict that for the current fiscal year, Booking Holdings Inc. will deliver an EPS of around 209.92.

Dividend Announcement

Recently, Booking announced a quarterly dividend of $9.60 per share, which will be paid on March 31st to stockholders recorded on March 7th. This marks an increase from the previous quarterly dividend of $8.75. The ex-dividend date is set for March 7th, representing an annualized dividend yield of 0.83% and a payout ratio of 22.19%.

Company Overview

Booking Holdings Inc., formerly known as The Priceline Group Inc., operates as a provider of online reservation services for travel and dining. It connects customers looking to make travel arrangements with service providers globally through its Booking.com, priceline.com, and agoda.com platforms, offering a diverse range of accommodation options such as hotels, bed and breakfasts, hostels, apartments, and vacation rentals.

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