Marietta Wealth Management LLC Sells 150 Shares of Marriott International, Inc. (NASDAQ:MAR)

Marietta Wealth Management LLC trimmed its holdings in shares of Marriott International, Inc. (NASDAQ:MAR) by 0.8% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 18,765 shares of the company’s stock after selling 150 shares during the period. Marietta Wealth Management LLC’s holdings in Marriott International were worth $4,470,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MAR. Hopwood Financial Services Inc. purchased a new position in Marriott International during the fourth quarter worth about $25,000. Bernard Wealth Management Corp. purchased a new position in Marriott International during the fourth quarter worth about $25,000. Bell Investment Advisors Inc grew its position in Marriott International by 112.2% during the fourth quarter. Bell Investment Advisors Inc now owns 104 shares of the company’s stock worth $29,000 after buying an additional 55 shares in the last quarter. Kapitalo Investimentos Ltda purchased a new position in Marriott International during the fourth quarter worth about $34,000. Finally, Sound Income Strategies LLC grew its position in Marriott International by 46.7% during the first quarter. Sound Income Strategies LLC now owns 157 shares of the company’s stock worth $37,000 after buying an additional 50 shares in the last quarter. 70.70% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Anthony Capuano sold 12,000 shares of the firm’s stock in a transaction 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 owns 124,067 shares of the company’s stock, valued at $32,741,281.30. This trade represents a 8.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Benjamin T. Breland sold 1,000 shares of the firm’s stock in a transaction on Monday, May 12th. The stock was sold at an average price of $270.21, for a total value of $270,210.00. Following the completion of the sale, the executive vice president now directly owns 20,724 shares of the company’s stock, valued at $5,599,832.04. The trade was a 4.60% decrease in their position. The disclosure for this sale can be found here. 10.68% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on MAR. Dbs Bank upgraded Marriott International from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 14th. UBS Group cut their price objective on Marriott International from $302.00 to $299.00 and set a “neutral” rating for the company in a report on Wednesday, May 21st. Truist Financial cut their price objective on Marriott International from $300.00 to $273.00 and set a “hold” rating for the company in a report on Friday, May 30th. BMO Capital Markets upped their price objective on Marriott International from $250.00 to $265.00 and gave the stock a “market perform” rating in a report on Wednesday, May 7th. Finally, Melius Research upgraded Marriott International to a “strong-buy” rating in a report on Monday, April 21st. Thirteen research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $275.15.

Marriott International Trading Up 1.0%

NASDAQ MAR opened at $260.19 on Friday. Marriott International, Inc. has a 1-year low of $204.55 and a 1-year high of $307.52. The stock has a 50-day moving average of $252.89 and a 200-day moving average of $263.87. The firm has a market cap of $71.27 billion, a PE ratio of 29.63, a price-to-earnings-growth ratio of 3.18 and a beta of 1.42.

Marriott International (NASDAQ:MAR) last released its earnings results on Tuesday, May 6th. The company reported $2.32 earnings per share for the quarter, beating analysts’ consensus estimates of $2.25 by $0.07. Marriott International had a negative return on equity of 100.64% and a net margin of 9.75%. The company had revenue of $6.26 billion during the quarter, compared to analyst estimates of $6.19 billion. During the same quarter in the previous year, the company posted $2.13 EPS. Marriott International’s revenue for the quarter was up 4.8% on a year-over-year basis. As a group, 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 declared a quarterly dividend, which will be paid on Monday, June 30th. Investors 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. The ex-dividend date is Friday, May 23rd. This represents a $2.68 dividend on an annualized basis and a yield of 1.03%. Marriott International’s dividend payout ratio (DPR) is presently 30.52%.

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.