Marriott International, Inc. (NASDAQ:MAR) Shares Sold by Pitti Group Wealth Management LLC

Pitti Group Wealth Management LLC trimmed its holdings in Marriott International, Inc. (NASDAQ:MAR) by 22.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,827 shares of the company’s stock after selling 825 shares during the quarter. Pitti Group Wealth Management LLC’s holdings in Marriott International were worth $637,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. ORG Partners LLC lifted its holdings in Marriott International by 72.6% in the 4th quarter. ORG Partners LLC now owns 126 shares of the company’s stock valued at $29,000 after acquiring an additional 53 shares during the last quarter. Keener Financial Planning LLC acquired a new position in shares of Marriott International in the fourth quarter worth about $30,000. OFI Invest Asset Management acquired a new position in shares of Marriott International in the third quarter worth about $25,000. Anchor Investment Management LLC acquired a new position in shares of Marriott International in the fourth quarter worth about $31,000. Finally, Wetzel Investment Advisors Inc. acquired a new position in shares of Marriott International in the fourth quarter worth about $33,000. 70.70% of the stock is owned by institutional investors and hedge funds.

Marriott International Price Performance

Shares of Marriott International stock traded down $1.10 during midday trading on Friday, hitting $240.84. The company had a trading volume of 1,065,547 shares, compared to its average volume of 1,409,872. The business’s 50 day simple moving average is $248.36 and its two-hundred day simple moving average is $227.23. The stock has a market cap of $69.60 billion, a PE ratio of 23.63, a P/E/G ratio of 5.37 and a beta of 1.62. Marriott International, Inc. has a 1-year low of $162.77 and a 1-year high of $260.57.

Marriott International (NASDAQ:MAR) last announced its quarterly earnings data on Tuesday, February 13th. The company reported $3.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $1.45. The business had revenue of $6.10 billion for the quarter, compared to the consensus estimate of $6.20 billion. Marriott International had a net margin of 13.00% and a negative return on equity of 848.49%. Marriott International’s quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter last year, the company posted $1.96 earnings per share. On average, sell-side analysts expect that Marriott International, Inc. will post 9.46 EPS for the current fiscal year.

Marriott International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, February 22nd were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Wednesday, February 21st. This represents a $2.08 dividend on an annualized basis and a yield of 0.86%. Marriott International’s dividend payout ratio is currently 20.41%.

Insiders Place Their Bets

In other Marriott International news, insider Satyajit Anand sold 2,749 shares of Marriott International stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $251.93, for a total transaction of $692,555.57. Following the completion of the transaction, the insider now directly owns 24,478 shares of the company’s stock, valued at $6,166,742.54. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Marriott International news, insider Deborah Marriott Harrison sold 37,300 shares of Marriott International stock in a transaction on Friday, February 16th. The stock was sold at an average price of $241.46, for a total transaction of $9,006,458.00. Following the completion of the transaction, the insider now directly owns 9,100 shares of the company’s stock, valued at $2,197,286. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Satyajit Anand sold 2,749 shares of Marriott International stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $251.93, for a total value of $692,555.57. Following the completion of the transaction, the insider now directly owns 24,478 shares of the company’s stock, valued at $6,166,742.54. The disclosure for this sale can be found here. Insiders have sold 125,003 shares of company stock worth $30,435,493 over the last 90 days. Corporate insiders own 12.32% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on MAR shares. Truist Financial raised their target price on shares of Marriott International from $233.00 to $263.00 and gave the stock a “hold” rating in a report on Wednesday, February 14th. UBS Group increased their price target on shares of Marriott International from $210.00 to $259.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 28th. Argus increased their price target on shares of Marriott International from $270.00 to $280.00 and gave the stock a “buy” rating in a research report on Tuesday, March 19th. Mizuho reduced their price target on shares of Marriott International from $263.00 to $260.00 and set a “neutral” rating for the company in a research report on Tuesday, April 23rd. Finally, Barclays increased their price target on shares of Marriott International from $239.00 to $240.00 and gave the stock an “equal weight” rating in a research report on Friday, April 19th. Eleven research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $236.69.

About Marriott International

Marriott International, Inc engages in operating, franchising, and licensing hotel, residential, timeshare, and other lodging properties worldwide. It operates its properties under the JW Marriott, The Ritz-Carlton, The Luxury Collection, W Hotels, St. Regis, EDITION, Bvlgari, Marriott Hotels, Sheraton, Westin, Autograph Collection, Renaissance Hotels, Le Méridien, Delta Hotels by Marriott, Tribute Portfolio, Gaylord Hotels, Design Hotels, Marriott Executive Apartments, Apartments by Marriott Bonvoy, Courtyard by Marriott, Fairfield by Marriott, Residence Inn by Marriott, SpringHill Suites by Marriott, Four Points by Sheraton, TownePlace Suites by Marriott, Aloft Hotels, AC Hotels by Marriott, Moxy Hotels, Element Hotels, Protea Hotels by Marriott, and City Express by Marriott brand names, as well as operates residences, timeshares, and yachts.