State of Alaska Department of Revenue Increases Position in Marriott International, Inc. (NASDAQ:MAR)

State of Alaska Department of Revenue lifted its stake in shares of Marriott International, Inc. (NASDAQ:MAR) by 2.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,814 shares of the company’s stock after purchasing an additional 515 shares during the period. State of Alaska Department of Revenue’s holdings in Marriott International were worth $6,387,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Norges Bank purchased a new position in Marriott International during the fourth quarter worth about $580,922,000. Wellington Management Group LLP raised its position in shares of Marriott International by 50.8% during the 4th quarter. Wellington Management Group LLP now owns 4,661,101 shares of the company’s stock valued at $1,300,168,000 after buying an additional 1,570,144 shares during the period. GAMMA Investing LLC lifted its holdings in Marriott International by 23,923.3% in the first quarter. GAMMA Investing LLC now owns 731,989 shares of the company’s stock valued at $174,360,000 after acquiring an additional 728,942 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Marriott International during the fourth quarter worth $165,162,000. Finally, Invesco Ltd. raised its position in Marriott International by 17.4% in the fourth quarter. Invesco Ltd. now owns 3,469,070 shares of the company’s stock valued at $967,662,000 after purchasing an additional 512,963 shares during the period. 70.70% of the stock is currently owned by hedge funds and other institutional investors.

Marriott International Stock Up 0.5%

NASDAQ MAR opened at $257.53 on Friday. Marriott International, Inc. has a 52 week low of $204.55 and a 52 week high of $307.52. The firm has a 50 day moving average of $252.19 and a two-hundred day moving average of $264.04. The stock has a market capitalization of $70.54 billion, a PE ratio of 29.33, a price-to-earnings-growth ratio of 3.18 and a beta of 1.42.

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

Marriott International Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, May 23rd will be paid a $0.67 dividend. This is a positive change from Marriott International’s previous quarterly dividend of $0.63. This represents a $2.68 annualized dividend and a yield of 1.04%. The ex-dividend date is Friday, May 23rd. Marriott International’s dividend payout ratio is currently 30.52%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. The Goldman Sachs Group reissued a “neutral” rating and set a $245.00 price objective (down from $313.00) on shares of Marriott International in a research report on Monday, April 14th. Barclays dropped their price target on shares of Marriott International from $283.00 to $236.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 22nd. BMO Capital Markets lifted their target price on shares of Marriott International from $250.00 to $265.00 and gave the company a “market perform” rating in a report on Wednesday, May 7th. Dbs Bank upgraded Marriott International from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 14th. Finally, Stifel Nicolaus dropped their price objective on Marriott International from $295.00 to $240.00 and set a “hold” rating for the company in a research note on Wednesday, April 16th. Thirteen research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $275.15.

Insider Transactions at Marriott International

In other news, CEO Anthony Capuano sold 12,000 shares of the stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $263.90, for a total value of $3,166,800.00. Following the completion of the sale, the chief executive officer now directly owns 124,067 shares of the company’s stock, valued at approximately $32,741,281.30. This represents a 8.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Benjamin T. Breland sold 1,000 shares of Marriott International stock in a transaction on 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 directly owns 20,724 shares in the company, valued at $5,599,832.04. The trade was a 4.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 10.68% of the company’s stock.

Marriott International Company Profile

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.