Marriott International, Inc. (NASDAQ:MAR) Shares Acquired by Global Assets Advisory LLC

Global Assets Advisory LLC grew its position in shares of Marriott International, Inc. (NASDAQ:MAR) by 162.2% during the 1st quarter, Holdings Channel reports. The firm owned 2,268 shares of the company’s stock after purchasing an additional 1,403 shares during the period. Global Assets Advisory LLC’s holdings in Marriott International were worth $516,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Straightline Group LLC acquired a new position in Marriott International in the fourth quarter worth approximately $495,000. NewEdge Wealth LLC grew its position in Marriott International by 34.4% in the fourth quarter. NewEdge Wealth LLC now owns 4,345 shares of the company’s stock worth $1,212,000 after buying an additional 1,112 shares during the last quarter. Markel Group Inc. grew its holdings in shares of Marriott International by 30.6% in the 4th quarter. Markel Group Inc. now owns 47,000 shares of the company’s stock worth $13,110,000 after acquiring an additional 11,000 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Marriott International by 2.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,477,619 shares of the company’s stock worth $412,167,000 after acquiring an additional 32,288 shares during the last quarter. Finally, JPL Wealth Management LLC acquired a new position in shares of Marriott International in the 4th quarter worth $463,000. 70.70% of the stock is currently owned by institutional investors and hedge funds.

Marriott International Stock Down 1.0%

MAR stock opened at $265.99 on Thursday. The company has a market capitalization of $72.85 billion, a price-to-earnings ratio of 30.29, a P/E/G ratio of 3.32 and a beta of 1.42. Marriott International, Inc. has a 12 month low of $204.55 and a 12 month high of $307.52. The firm has a 50 day moving average of $255.57 and a two-hundred day moving average of $263.34.

Marriott International (NASDAQ:MAR) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $2.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.25 by $0.07. The firm had revenue of $6.26 billion during the quarter, compared to analysts’ expectations of $6.19 billion. Marriott International had a net margin of 9.75% and a negative return on equity of 100.64%. Marriott International’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same period in the prior year, the company posted $2.13 earnings per share. On average, research analysts expect that Marriott International, Inc. will post 10.1 EPS for the current fiscal year.

Marriott International Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, May 23rd will be given a dividend of $0.67 per share. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $2.68 dividend on an annualized basis and a yield of 1.01%. This is a boost from Marriott International’s previous quarterly dividend of $0.63. Marriott International’s dividend payout ratio is presently 30.52%.

Insiders Place Their Bets

In other Marriott International news, EVP Benjamin T. Breland sold 1,000 shares of the company’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $270.21, for a total transaction of $270,210.00. Following the completion of the sale, the executive vice president now directly owns 20,724 shares in the company, valued at $5,599,832.04. This represents a 4.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Rajeev Menon sold 2,500 shares of the stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $268.28, for a total value of $670,700.00. Following the sale, the insider now owns 5,706 shares of the company’s stock, valued at approximately $1,530,805.68. The trade was a 30.47% decrease in their position. The disclosure for this sale can be found here. Insiders sold 15,500 shares of company stock valued at $4,107,710 over the last 90 days. 10.68% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on MAR. Stifel Nicolaus dropped their price target on Marriott International from $295.00 to $240.00 and set a “hold” rating on the stock in a research note on Wednesday, April 16th. Robert W. Baird lifted their target price on shares of Marriott International from $250.00 to $265.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 7th. JPMorgan Chase & Co. initiated coverage on shares of Marriott International in a research report on Monday. They set a “neutral” rating and a $284.00 price objective on the stock. Truist Financial lowered their price objective on shares of Marriott International from $300.00 to $273.00 and set a “hold” rating on the stock in a research report on Friday, May 30th. Finally, Melius Research upgraded Marriott International to a “strong-buy” rating in a report on Monday, April 21st. Thirteen investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Marriott International presently has an average rating of “Moderate Buy” and a consensus price target of $275.90.

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.