Ascent Group LLC Reduces Stock Holdings in Marriott International, Inc. (NASDAQ:MAR)

Ascent Group LLC reduced its stake in Marriott International, Inc. (NASDAQ:MAR) by 11.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,997 shares of the company’s stock after selling 249 shares during the period. Ascent Group LLC’s holdings in Marriott International were worth $557,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of MAR. Straightline Group LLC purchased a new stake in Marriott International in the 4th quarter valued at about $495,000. NewEdge Wealth LLC grew its holdings in Marriott International by 34.4% in the 4th quarter. NewEdge Wealth LLC now owns 4,345 shares of the company’s stock valued at $1,212,000 after buying an additional 1,112 shares during the period. Markel Group Inc. grew its holdings in Marriott International by 30.6% in the 4th quarter. Markel Group Inc. now owns 47,000 shares of the company’s stock valued at $13,110,000 after buying an additional 11,000 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in 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 valued at $412,167,000 after buying an additional 32,288 shares during the period. Finally, JPL Wealth Management LLC purchased a new stake in Marriott International in the 4th quarter valued at about $463,000. 70.70% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently issued reports on MAR shares. BMO Capital Markets boosted their target price on Marriott International from $250.00 to $265.00 and gave the stock a “market perform” rating in a report on Wednesday, May 7th. The Goldman Sachs Group reissued a “neutral” rating and set a $245.00 price target (down from $313.00) on shares of Marriott International in a research report on Monday, April 14th. Truist Financial reduced their price target on Marriott International from $308.00 to $300.00 and set a “hold” rating on the stock in a research report on Friday, March 21st. Dbs Bank raised Marriott International from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 14th. Finally, Susquehanna boosted their price target on Marriott International from $255.00 to $285.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 12th. Thirteen analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Marriott International currently has a consensus rating of “Moderate Buy” and a consensus target price of $276.50.

Marriott International Price Performance

MAR opened at $266.10 on Wednesday. The stock has a market capitalization of $72.88 billion, a PE ratio of 31.98, a P/E/G ratio of 3.42 and a beta of 1.39. The firm’s fifty day moving average price is $241.92 and its 200 day moving average price is $266.55. Marriott International, Inc. has a 12-month low of $204.55 and a 12-month high of $307.52.

Marriott International (NASDAQ:MAR) last issued its earnings results on Tuesday, May 6th. The company reported $2.32 earnings per share for the quarter, topping analysts’ consensus estimates of $2.25 by $0.07. The company had revenue of $6.26 billion for the quarter, compared to analysts’ expectations of $6.19 billion. Marriott International had a net margin of 9.46% and a negative return on equity of 116.67%. The firm’s revenue was up 4.8% compared to the same quarter last year. During the same period in the prior year, the company earned $2.13 earnings per share. On average, equities research analysts forecast that Marriott International, Inc. will post 10.1 earnings per share for the current fiscal year.

Marriott International Increases Dividend

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

Insiders Place Their Bets

In other 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 transaction, the executive vice president now owns 20,724 shares in the company, valued at approximately $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 accessible through the SEC website. 10.68% of the stock is owned by corporate insiders.

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.