NewEdge Advisors LLC raised its position in shares of Marriott International, Inc. (NASDAQ:MAR – Free Report) by 3.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 43,948 shares of the company’s stock after acquiring an additional 1,543 shares during the period. NewEdge Advisors LLC’s holdings in Marriott International were worth $14,374,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in the company. Glenmede Trust Co. NA grew its stake in shares of Marriott International by 0.9% in the first quarter. Glenmede Trust Co. NA now owns 18,553 shares of the company’s stock valued at $6,068,000 after acquiring an additional 159 shares in the last quarter. Verus Capital Partners LLC grew its position in shares of Marriott International by 9.4% during the 1st quarter. Verus Capital Partners LLC now owns 1,568 shares of the company’s stock worth $513,000 after purchasing an additional 135 shares in the last quarter. Groupe la Francaise acquired a new stake in shares of Marriott International in the first quarter valued at approximately $784,000. SOA Wealth Advisors LLC. boosted its stake in shares of Marriott International by 5.6% in the first quarter. SOA Wealth Advisors LLC. now owns 847 shares of the company’s stock valued at $277,000 after buying an additional 45 shares during the period. Finally, Paragon Private Wealth Management LLC grew its position in Marriott International by 4.4% during the first quarter. Paragon Private Wealth Management LLC now owns 743 shares of the company’s stock worth $243,000 after buying an additional 31 shares in the last quarter. 70.70% of the stock is owned by institutional investors and hedge funds.
Marriott International Trading Down 1.6%
Shares of Marriott International stock opened at $353.91 on Friday. The firm’s 50 day moving average is $377.05 and its 200 day moving average is $355.24. The firm has a market capitalization of $92.29 billion, a PE ratio of 36.67, a price-to-earnings-growth ratio of 2.75 and a beta of 1.10. Marriott International, Inc. has a 1 year low of $256.49 and a 1 year high of $410.98.
Marriott International Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Thursday, August 20th will be issued a $0.73 dividend. This represents a $2.92 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Thursday, August 20th. Marriott International’s dividend payout ratio is presently 30.26%.
Insider Activity at Marriott International
In other news, EVP Peggy Roe sold 3,000 shares of the business’s stock in a transaction dated 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 sale, the executive vice president directly owned 19,827 shares in the company, valued at approximately $7,168,650.12. The trade was a 13.14% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 11.43% of the company’s stock.
Analyst Upgrades and Downgrades
MAR has been the subject of a number of recent analyst reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Marriott International in a research report on Monday, May 11th. Susquehanna boosted their price target on Marriott International from $280.00 to $385.00 and gave the company a “neutral” rating in a research note on Thursday, April 23rd. Barclays reduced their price objective on shares of Marriott International from $379.00 to $348.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 4th. JPMorgan Chase & Co. upped their price target on shares of Marriott International from $387.00 to $400.00 and gave the stock a “neutral” rating in a report on Tuesday, July 21st. Finally, Stifel Nicolaus lifted their price objective on shares of Marriott International from $352.00 to $365.00 and gave the company a “hold” rating in a research note on Friday, July 17th. Nine analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, Marriott International presently has an average rating of “Moderate Buy” and an average price target of $386.65.
View Our Latest Research Report on MAR
About Marriott International
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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