We present an analysis of 43 years (1972 to 2015) of spectroscopic observations of the Seyfert 1 galaxy NGC 5548. This includes 12 years of new unpublished observations (2003 to 2015). We compiled about 1600 H$\beta$ spectra and analyzed the long term spectral variations of the 5100\AA\ continuum and the H$\beta$ line. Our analysis is based on standard procedures like the Lomb-Scargle method that is known to be rather limited to such heterogeneous data sets, as well as a new method developed specifically for this project that is more robust and reveals a $\sim$5700 day periodicity in the continuum light curve, the H$\beta$ light curve and the radial velocity curve of the red wing of the H$\beta$ line. The data are consistent with orbital motion inside the broad emission line region of the source. We discuss several possible mechanisms that can explain this periodicity, including orbiting dusty and dust-free clouds, a binary black hole system, tidal disruption events and the effect of an orbiting star periodically passing through an accretion disc.
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