12 Best Large Cap Stocks To Buy Now

5. Booking Holdings Inc. (NASDAQ:BKNG)

Market Capitalization as of September 13: $131.67 billion

Number of Hedge Fund Holders: 96

Booking Holdings Inc. (NASDAQ:BKNG) is a travel technology company that owns and operates several travel fare aggregators. Its platform includes well-known brands such as Booking.com, Priceline, Agoda, Kayak, and OpenTable, helping travelers find and book hotels, flights, rental cars, vacation packages, and other travel-related services. It has a rather extensive user base that enables it to implement AI solutions such as Trip Planner and Penny, enhancing customer service.

In the second quarter of 2024, the stock was held by 96 hedge funds. The largest shareholder is Fisher Asset Management, with a position worth $1.6 billion.

The company generated $5.86 billion in Q2, a 7.27%% increase year-over-year. Merchant revenues experienced growth, offset by agency revenues, due to the ongoing transition from agency to merchant revenues at Booking.com. Advertising revenues also rose, driven by increased advertising income at Booking.com and growth at OpenTable. The earnings per share were $41.90.

Innovations such as GenAI-assisted trip planners and enhanced mobile applications have streamlined the booking process and enriched user experiences. The company has also diversified revenue streams through advancements in flights, ground transportation, and restaurant reservations via OpenTable.

Booking Holdings Inc. (NASDAQ:BKNG) is well-positioned for continued growth as more and more tourists (particularly Millennials and Gen Z) are shifting preferences to make their travels convenient through online platforms, like the one this company provides. Its adaptability to the changing market and the expansion of its diverse service offerings is what makes it a popular large-cap stock to look into.

Wedgewood Partners stated the following regarding Booking Holdings Inc. (NASDAQ:BKNG) in its Q2 2024 investor letter:

“Booking Holdings Inc. (NASDAQ:BKNG) contributed to performance as travel spending across the U.S. and Europe remains quite healthy, whereas the Company took share in alternative accommodations, and looks set to expand margins after a few years of reinvestment. The Company has also been aggressively reducing its share count at reasonably attractive valuation multiples. Booking should be able to compound earnings at an attractive, double-digit rate for the next few years given these various initiatives.”