American Economic Planning Group Inc. ADV acquired a new stake in Marriott International Inc (NASDAQ:MAR) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 2,170 shares of the company’s stock, valued at approximately $204,000.
A number of other hedge funds have also modified their holdings of the company. Israel Discount Bank of New York GFN bought a new position in shares of Marriott International during the fourth quarter valued at $116,000. High Point Bank & Trust Co. boosted its position in Marriott International by 11.5% in the fourth quarter. High Point Bank & Trust Co. now owns 1,450 shares of the company’s stock worth $120,000 after buying an additional 149 shares during the last quarter. Glassman Wealth Services boosted its position in Marriott International by 0.3% in the fourth quarter. Glassman Wealth Services now owns 1,570 shares of the company’s stock worth $130,000 after buying an additional 5 shares during the last quarter. First Bank & Trust acquired a new position in Marriott International during the fourth quarter worth approximately $134,000. Finally, Quadrant Capital Group LLC boosted its position in Marriott International by 4.3% in the first quarter. Quadrant Capital Group LLC now owns 1,825 shares of the company’s stock worth $166,000 after buying an additional 75 shares during the last quarter. 64.62% of the stock is currently owned by institutional investors and hedge funds.
Marriott International Inc (NASDAQ:MAR) traded down 0.31% during midday trading on Friday, hitting $92.48. 1,410,929 shares of the stock were exchanged. Marriott International Inc has a 1-year low of $60.87 and a 1-year high of $95.42. The firm’s 50-day moving average price is $90.45 and its 200 day moving average price is $82.03. The firm has a market capitalization of $35.47 billion, a P/E ratio of 35.03 and a beta of 1.22.
Marriott International (NASDAQ:MAR) last posted its quarterly earnings data on Wednesday, February 15th. The company reported $0.85 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.83 by $0.02. The firm had revenue of $5.46 billion for the quarter, compared to analysts’ expectations of $4.67 billion. Marriott International had a net margin of 4.82% and a negative return on equity of 76.10%. Analysts expect that Marriott International Inc will post $3.94 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 31st. Stockholders of record on Friday, February 24th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.29%. The ex-dividend date was Wednesday, February 22nd. Marriott International’s dividend payout ratio (DPR) is currently 42.25%.
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A number of equities analysts recently commented on MAR shares. Canaccord Genuity reiterated a “buy” rating and set a $94.00 price target on shares of Marriott International in a report on Wednesday, January 4th. Vetr upgraded Marriott International from a “hold” rating to a “buy” rating and set a $87.41 price target for the company in a report on Tuesday, January 3rd. Royal Bank of Canada reiterated a “buy” rating and set a $90.00 price target on shares of Marriott International in a report on Tuesday, January 3rd. Instinet raised their price objective on shares of Marriott International from $98.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, February 21st. Finally, Goldman Sachs Group Inc downgraded shares of Marriott International from a “conviction-buy” rating to a “buy” rating and set a $105.00 price objective for the company. in a research report on Tuesday, April 11th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have assigned a buy rating to the stock. Marriott International currently has a consensus rating of “Hold” and an average target price of $89.91.
In other news, insider J W. Marriott, Jr. sold 35,059 shares of the firm’s stock in a transaction on Thursday, March 23rd. The shares were sold at an average price of $93.42, for a total transaction of $3,275,211.78. Following the sale, the insider now owns 275,083 shares in the company, valued at approximately $25,698,253.86. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Debra L. Lee sold 2,020 shares of the firm’s stock in a transaction on Tuesday, February 28th. The shares were sold at an average price of $87.37, for a total transaction of $176,487.40. Following the sale, the director now owns 640 shares in the company, valued at approximately $55,916.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 155,128 shares of company stock worth $13,875,938. Corporate insiders own 17.07% of the company’s stock.
About Marriott International
Marriott International, Inc (Marriott International) is a lodging company. Marriott International operates in three business segments: North American Full-Service, North American Limited-Service and International. Its North American Full-Service segment includes its Luxury and Premium brands (JW Marriott, Marriott Hotels, Sheraton, Westin, Renaissance Hotels, Le Meridien, Autograph Collection Hotels, Delta Hotels, Gaylord Hotels, and Tribute Portfolio) located in the United States and Canada.
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