Dougherty & Associates LLC bought a new stake in Marriott International, Inc. (NASDAQ:MAR – Free Report) during the 4th quarter, Holdings Channel reports. The institutional investor bought 6,845 shares of the company’s stock, valued at approximately $2,124,000. Marriott International makes up about 1.9% of Dougherty & Associates LLC’s investment portfolio, making the stock its 17th biggest position.
Several other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Marriott International by 1.1% in the third quarter. Vanguard Group Inc. now owns 20,774,015 shares of the company’s stock valued at $5,410,384,000 after buying an additional 230,820 shares during the last quarter. Wellington Management Group LLP increased its holdings in Marriott International by 21.7% in the third quarter. Wellington Management Group LLP now owns 9,175,377 shares of the company’s stock valued at $2,389,635,000 after buying an additional 1,637,119 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Marriott International by 7.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 4,921,767 shares of the company’s stock valued at $1,281,825,000 after buying an additional 330,952 shares during the last quarter. Legal & General Group Plc increased its holdings in Marriott International by 9.3% in the third quarter. Legal & General Group Plc now owns 1,465,420 shares of the company’s stock valued at $381,654,000 after buying an additional 124,759 shares during the last quarter. Finally, Fayez Sarofim & Co increased its holdings in Marriott International by 0.5% in the third quarter. Fayez Sarofim & Co now owns 971,981 shares of the company’s stock valued at $256,359,000 after buying an additional 4,534 shares during the last quarter. Hedge funds and other institutional investors own 70.70% of the company’s stock.
Marriott International Stock Performance
MAR stock opened at $353.17 on Monday. The company’s 50 day moving average is $343.48 and its two-hundred day moving average is $323.38. The stock has a market cap of $93.13 billion, a P/E ratio of 37.06, a PEG ratio of 2.81 and a beta of 1.11. Marriott International, Inc. has a twelve month low of $253.55 and a twelve month high of $380.00.
Marriott International Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Friday, May 22nd will be issued a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Friday, May 22nd. This is a positive change from Marriott International’s previous quarterly dividend of $0.67. Marriott International’s dividend payout ratio is presently 30.64%.
Wall Street Analyst Weigh In
A number of analysts have weighed in on MAR shares. Jefferies Financial Group raised their price objective on shares of Marriott International from $357.00 to $415.00 and gave the stock a “buy” rating in a report on Wednesday, February 11th. Evercore raised their price objective on shares of Marriott International from $320.00 to $350.00 and gave the stock an “outperform” rating in a report on Thursday, January 22nd. Wells Fargo & Company raised their price objective on shares of Marriott International to $446.00 and gave the stock an “overweight” rating in a report on Thursday, May 7th. Truist Financial raised their price objective on shares of Marriott International from $283.00 to $350.00 and gave the stock a “hold” rating in a report on Wednesday, February 11th. Finally, Mizuho raised their price objective on shares of Marriott International from $343.00 to $384.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Eight analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Marriott International currently has an average rating of “Moderate Buy” and a consensus target price of $376.13.
Read Our Latest Research Report on Marriott International
Insiders Place Their Bets
In other news, insider Rajeev Menon sold 6,333 shares of Marriott International stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $356.61, for a total value of $2,258,411.13. Following the transaction, the insider directly owned 9,492 shares of the company’s stock, valued at $3,384,942.12. The trade was a 40.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Anthony Capuano sold 63,000 shares of Marriott International stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $359.22, for a total transaction of $22,630,860.00. Following the completion of the transaction, the chief executive officer directly owned 113,617 shares in the company, valued at $40,813,498.74. The trade was a 35.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 93,028 shares of company stock worth $33,377,271. Corporate insiders own 11.43% of the company’s stock.
Marriott International Profile
Marriott International is a global lodging company that develops, manages and franchises a broad portfolio of hotels and related lodging facilities. Its core activities include hotel and resort management, franchise operations, property development and the provision of centralized services such as reservations, marketing and loyalty program management. The company’s brand architecture spans market segments from luxury and premium to select-service and extended-stay, enabling it to serve a wide range of business and leisure travelers as well as corporate and group customers.
The company traces its roots to the hospitality business founded by J.
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