Cidel Asset Management Inc. raised its stake in Marriott International, Inc. (NASDAQ:MAR – Free Report) by 7.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 86,003 shares of the company’s stock after buying an additional 6,234 shares during the quarter. Marriott International comprises approximately 1.5% of Cidel Asset Management Inc.’s investment portfolio, making the stock its 19th biggest holding. Cidel Asset Management Inc.’s holdings in Marriott International were worth $28,129,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in the stock. Frederick Financial Consultants LLC lifted its position in Marriott International by 0.8% in the 4th quarter. Frederick Financial Consultants LLC now owns 3,531 shares of the company’s stock valued at $1,095,000 after acquiring an additional 28 shares in the last quarter. Transamerica Financial Advisors LLC raised its stake in shares of Marriott International by 34.8% in the 4th quarter. Transamerica Financial Advisors LLC now owns 120 shares of the company’s stock valued at $37,000 after purchasing an additional 31 shares during the period. Optimize Financial Inc lifted its holdings in shares of Marriott International by 1.4% in the fourth quarter. Optimize Financial Inc now owns 2,284 shares of the company’s stock valued at $709,000 after purchasing an additional 32 shares in the last quarter. Bridges Investment Management Inc. boosted its position in shares of Marriott International by 1.0% during the fourth quarter. Bridges Investment Management Inc. now owns 3,277 shares of the company’s stock worth $1,017,000 after buying an additional 32 shares during the period. Finally, Riversedge Advisors LLC grew its holdings in shares of Marriott International by 3.0% during the fourth quarter. Riversedge Advisors LLC now owns 1,149 shares of the company’s stock worth $357,000 after buying an additional 33 shares in the last quarter. Institutional investors own 70.70% of the company’s stock.
Marriott International Trading Up 0.7%
NASDAQ:MAR opened at $386.83 on Wednesday. The firm has a fifty day simple moving average of $373.04 and a 200 day simple moving average of $341.71. Marriott International, Inc. has a 1-year low of $253.76 and a 1-year high of $410.98. The stock has a market capitalization of $102.00 billion, a PE ratio of 40.59, a P/E/G ratio of 3.06 and a beta of 1.10.
Marriott International Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Friday, May 22nd will be issued a dividend of $0.73 per share. The ex-dividend date is Friday, May 22nd. This is an increase from Marriott International’s previous quarterly dividend of $0.67. This represents a $2.92 dividend on an annualized basis and a yield of 0.8%. Marriott International’s dividend payout ratio is 30.64%.
Wall Street Analyst Weigh In
MAR has been the topic of a number of recent research reports. Barclays lifted their target price on Marriott International from $372.00 to $376.00 and gave the company an “equal weight” rating in a research report on Thursday, May 7th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Marriott International in a research note on Monday, May 11th. Truist Financial lifted their price objective on shares of Marriott International from $350.00 to $356.00 and gave the company a “hold” rating in a report on Tuesday, May 26th. Morgan Stanley increased their target price on shares of Marriott International from $350.00 to $353.00 and gave the stock an “overweight” rating in a report on Tuesday, May 12th. Finally, Susquehanna boosted their price target on shares of Marriott International from $280.00 to $385.00 and gave the stock a “neutral” rating in a research report on Thursday, April 23rd. Eight investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $384.73.
Check Out Our Latest Research Report on MAR
Insider Buying and Selling
In other Marriott International news, EVP Peggy Roe sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $361.56, for a total transaction of $1,084,680.00. Following the transaction, the executive vice president owned 19,827 shares of the company’s stock, valued at $7,168,650.12. The trade was a 13.14% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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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