International Assets Investment Management LLC Trims Stake in Marriott International, Inc. (NASDAQ:MAR)

International Assets Investment Management LLC reduced its position in shares of Marriott International, Inc. (NASDAQ:MAR) by 99.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,179 shares of the company’s stock after selling 301,348 shares during the period. International Assets Investment Management LLC’s holdings in Marriott International were worth $324,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in MAR. Jensen Investment Management Inc. bought a new stake in Marriott International in the third quarter worth $793,000. BayBridge Capital Group LLC bought a new stake in Marriott International in the third quarter worth $1,254,000. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Marriott International by 0.5% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 566,548 shares of the company’s stock valued at $140,844,000 after acquiring an additional 2,723 shares during the last quarter. Oddo BHF Asset Management Sas bought a new position in shares of Marriott International during the third quarter valued at about $2,721,000. Finally, Kinsale Capital Group Inc. bought a new position in shares of Marriott International during the third quarter valued at about $3,769,000. 70.70% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MAR has been the subject of several recent analyst reports. Barclays upped their price objective on shares of Marriott International from $249.00 to $286.00 and gave the company an “equal weight” rating in a research note on Friday, December 13th. Bank of America upped their price objective on shares of Marriott International from $275.00 to $300.00 and gave the company a “buy” rating in a research note on Monday, October 21st. JPMorgan Chase & Co. upped their price objective on shares of Marriott International from $251.00 to $269.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. Mizuho boosted their price target on shares of Marriott International from $233.00 to $246.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Finally, Truist Financial boosted their price target on shares of Marriott International from $254.00 to $277.00 and gave the company a “hold” rating in a research report on Wednesday, December 4th. Fourteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $269.65.

Marriott International Stock Down 1.0 %

NASDAQ:MAR opened at $270.76 on Monday. The company’s 50 day moving average price is $281.99 and its 200-day moving average price is $254.90. Marriott International, Inc. has a 52 week low of $204.55 and a 52 week high of $295.45. The stock has a market cap of $75.24 billion, a price-to-earnings ratio of 28.32, a PEG ratio of 5.47 and a beta of 1.57.

Marriott International (NASDAQ:MAR) last posted 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). Marriott International had a net margin of 11.18% and a negative return on equity of 177.91%. The firm had revenue of $6.26 billion for the quarter, compared to analysts’ expectations of $6.27 billion. During the same quarter in the previous year, the company earned $2.11 EPS. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Marriott International, Inc. will post 9.26 earnings per share for the current year.

Marriott International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Thursday, November 21st were given a dividend of $0.63 per share. The ex-dividend date of this dividend was Thursday, November 21st. This represents a $2.52 dividend on an annualized basis and a yield of 0.93%. Marriott International’s dividend payout ratio (DPR) is 26.36%.

Insider Activity at Marriott International

In related news, insider William P. Brown sold 1,707 shares of the firm’s stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $284.30, for a total transaction of $485,300.10. Following the completion of the transaction, the insider now directly owns 23,077 shares of the company’s stock, valued at approximately $6,560,791.10. This trade represents a 6.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Felitia Lee sold 916 shares of Marriott International stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $276.48, for a total transaction of $253,255.68. Following the completion of the transaction, the chief accounting officer now directly owns 5,609 shares of the company’s stock, valued at $1,550,776.32. The trade was a 14.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 13,815 shares of company stock worth $3,919,739 over the last quarter. Company insiders own 12.32% of the company’s stock.

Marriott International 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.