Apollon Wealth Management LLC Reduces Stock Position in Marriott International, Inc. (NASDAQ:MAR)

Apollon Wealth Management LLC trimmed its position in Marriott International, Inc. (NASDAQ:MAR) by 13.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,270 shares of the company’s stock after selling 785 shares during the quarter. Apollon Wealth Management LLC’s holdings in Marriott International were worth $1,310,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Quent Capital LLC raised its position in Marriott International by 7.9% during the first quarter. Quent Capital LLC now owns 644 shares of the company’s stock valued at $162,000 after buying an additional 47 shares during the period. Russell Investments Group Ltd. boosted its stake in shares of Marriott International by 81.2% during the 1st quarter. Russell Investments Group Ltd. now owns 70,594 shares of the company’s stock worth $17,816,000 after acquiring an additional 31,629 shares in the last quarter. Kingsview Wealth Management LLC boosted its stake in Marriott International by 41.0% during the 1st quarter. Kingsview Wealth Management LLC now owns 3,595 shares of the company’s stock valued at $907,000 after purchasing an additional 1,046 shares during the period. Blair William & Co. IL boosted its stake in Marriott International by 31.6% during the 1st quarter. Blair William & Co. IL now owns 26,690 shares of the company’s stock valued at $6,734,000 after purchasing an additional 6,410 shares during the period. Finally, GM Advisory Group LLC bought a new stake in shares of Marriott International in the 1st quarter worth approximately $218,000. 70.70% of the stock is currently owned by institutional investors.

Marriott International Stock Down 1.6 %

NASDAQ MAR opened at $282.02 on Friday. The company has a market capitalization of $78.37 billion, a price-to-earnings ratio of 29.50, a PEG ratio of 5.63 and a beta of 1.58. The stock has a fifty day simple moving average of $254.51 and a 200 day simple moving average of $241.18. Marriott International, Inc. has a twelve month low of $200.94 and a twelve month high of $289.04.

Marriott International (NASDAQ:MAR) last issued its quarterly earnings results on Monday, November 4th. The company reported $2.26 EPS for the quarter, missing analysts’ consensus estimates of $2.31 by ($0.05). The firm had revenue of $6.26 billion for the quarter, compared to the consensus estimate of $6.27 billion. Marriott International had a net margin of 11.18% and a negative return on equity of 177.91%. The business’s revenue was up 5.5% compared to the same quarter last year. During the same period last year, the company posted $2.11 EPS. Research analysts expect that Marriott International, Inc. will post 9.26 earnings per share for the current fiscal year.

Marriott International Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Thursday, November 21st will be given a $0.63 dividend. The ex-dividend date is Thursday, November 21st. This represents a $2.52 annualized dividend and a yield of 0.89%. Marriott International’s payout ratio is 26.36%.

Insider Activity at Marriott International

In other news, CAO Felitia Lee sold 916 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $276.48, for a total transaction of $253,255.68. Following the completion of the sale, the chief accounting officer now owns 5,609 shares in the company, valued at $1,550,776.32. This trade represents a 14.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Benjamin T. Breland sold 500 shares of Marriott International stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $274.49, for a total transaction of $137,245.00. Following the completion of the transaction, the executive vice president now owns 12,286 shares of the company’s stock, valued at $3,372,384.14. This represents a 3.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 12,108 shares of company stock valued at $3,434,439. 12.32% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. TD Cowen dropped their target price on Marriott International from $295.00 to $283.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. Evercore ISI raised their price target on Marriott International from $245.00 to $270.00 and gave the company an “in-line” rating in a report on Monday, October 21st. The Goldman Sachs Group assumed coverage on Marriott International in a research note on Wednesday, September 18th. They issued a “buy” rating and a $267.00 target price for the company. JPMorgan Chase & Co. lifted their target price on Marriott International from $235.00 to $255.00 and gave the company a “neutral” rating in a research note on Friday, July 19th. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on Marriott International from $222.00 to $216.00 and set a “hold” rating for the company in a research note on Thursday, August 1st. Thirteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $259.00.

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.