Investment Advisory Services Inc. TX ADV bought a new position in shares of Marriott International, Inc. (NASDAQ:MAR – Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 834 shares of the company’s stock, valued at approximately $228,000.
A number of other institutional investors and hedge funds have also recently modified their holdings of MAR. Brighton Jones LLC lifted its holdings in shares of Marriott International by 2.5% during the fourth quarter. Brighton Jones LLC now owns 8,887 shares of the company’s stock worth $2,479,000 after purchasing an additional 218 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Marriott International by 2.6% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 41,446 shares of the company’s stock worth $11,561,000 after purchasing an additional 1,041 shares during the period. AdvisorNet Financial Inc lifted its holdings in Marriott International by 23.0% in the first quarter. AdvisorNet Financial Inc now owns 750 shares of the company’s stock valued at $179,000 after acquiring an additional 140 shares during the period. GAMMA Investing LLC lifted its holdings in Marriott International by 23,923.3% in the first quarter. GAMMA Investing LLC now owns 731,989 shares of the company’s stock valued at $174,360,000 after acquiring an additional 728,942 shares during the period. Finally, Parallel Advisors LLC lifted its holdings in Marriott International by 2.9% in the first quarter. Parallel Advisors LLC now owns 2,798 shares of the company’s stock valued at $667,000 after acquiring an additional 79 shares during the period. Institutional investors and hedge funds own 70.70% of the company’s stock.
Marriott International Stock Performance
Shares of MAR opened at $264.21 on Monday. Marriott International, Inc. has a one year low of $205.40 and a one year high of $307.52. The stock has a market capitalization of $71.72 billion, a price-to-earnings ratio of 29.79, a PEG ratio of 2.61 and a beta of 1.38. The stock has a 50 day moving average price of $266.25 and a 200 day moving average price of $257.71.
Marriott International Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Thursday, August 21st will be given a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Thursday, August 21st. Marriott International’s payout ratio is presently 30.21%.
Marriott International announced that its Board of Directors has approved a stock buyback program on Thursday, August 7th that permits the company to buyback 25,000,000 shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.
Wall Street Analysts Forecast Growth
MAR has been the subject of a number of analyst reports. Truist Financial boosted their price target on Marriott International from $273.00 to $278.00 and gave the company a “hold” rating in a report on Wednesday, September 3rd. Robert W. Baird boosted their price target on Marriott International from $285.00 to $287.00 and gave the company a “neutral” rating in a report on Wednesday, August 20th. BMO Capital Markets decreased their price target on Marriott International from $285.00 to $280.00 and set a “market perform” rating for the company in a report on Wednesday, August 6th. Finally, JPMorgan Chase & Co. assumed coverage on Marriott International in a research report on Monday, June 23rd. They issued a “neutral” rating and a $284.00 price objective for the company. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and twelve have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $281.26.
Read Our Latest Analysis on MAR
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, City Express by Marriott, and St.
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