During the third quarter, Cullen Frost Bankers Inc. trimmed its Booking Holdings position by 2.0%, selling 153 shares and ending the period with 7,390 shares worth $39.9 million. Several other institutions also adjusted stakes: Vontobel Holding Ltd. added 11,829 shares (up 18.6%) to hold 75,534 shares valued at $437.3 million, Panagora Asset Management Inc. increased its stake by 67.3% to 30,210 shares ($174.9 million), and Y Intercept Hong Kong Ltd boosted its holdings by 15.6% to 511 shares ($3.0 million). Overall, hedge funds and other institutional investors control 92.42% of the company’s shares.

In the quarter ended October 28, Booking delivered $99.50 in earnings per share, surpassing the consensus estimate of $95.56 by 4.1%. Revenue rose 12.7% year-over-year to $9.01 billion, beating analysts’ $8.71 billion forecast. Net margin stood at 19.37%, while return on equity was negative 134.86% due to prior share repurchases and intangible assets. The company’s trailing-twelve-month P/E ratio is 33.1, its PEG ratio is 1.11 and beta is 1.23.

Booking paid a quarterly dividend of $9.60 on December 31 to shareholders of record as of December 5, representing an annualized payout of $38.40 and a yield of 0.8%. The dividend payout ratio is 24.96%, underscoring a disciplined capital return policy supported by strong free cash flow generation.

CEO Glenn D. Fogel sold 953 shares at an average price of $5,181.34 for proceeds of $4.94 million, reducing his holdings by 4.63%. Director Vanessa Ames Wittman sold 15 shares at $5,191.15, trimming her stake by 2.14%. Insiders have sold 3,324 shares totaling $17.19 million in the past 90 days, collectively owning 0.16% of the stock. On Wall Street, one analyst rates the shares a Strong Buy, 27 have Buy ratings and nine have Hold ratings, with a consensus price target of $6,209.94.