abrdn plc Sells 13,850 Shares of Marriott International, Inc. (NASDAQ:MAR)

abrdn plc lowered its position in Marriott International, Inc. (NASDAQ:MAR) by 13.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 87,424 shares of the company’s stock after selling 13,850 shares during the quarter. abrdn plc’s holdings in Marriott International were worth $24,458,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also added to or reduced their stakes in the business. PointState Capital LP bought a new position in shares of Marriott International during the third quarter worth about $98,249,000. Canoe Financial LP bought a new position in Marriott International during the 3rd quarter worth approximately $77,331,000. International Assets Investment Management LLC boosted its stake in shares of Marriott International by 15,148.3% in the 3rd quarter. International Assets Investment Management LLC now owns 302,527 shares of the company’s stock valued at $75,208,000 after purchasing an additional 300,543 shares during the last quarter. Assenagon Asset Management S.A. increased its position in shares of Marriott International by 341.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 381,226 shares of the company’s stock worth $106,339,000 after buying an additional 294,898 shares during the period. Finally, Mizuho Securities USA LLC lifted its holdings in Marriott International by 629.7% in the third quarter. Mizuho Securities USA LLC now owns 134,973 shares of the company’s stock valued at $33,554,000 after buying an additional 116,477 shares during the period. 70.70% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

MAR has been the subject of a number of recent analyst reports. TD Cowen decreased their price target on Marriott International from $295.00 to $283.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. Stifel Nicolaus boosted their price target on Marriott International from $252.00 to $283.00 and gave the company a “hold” rating in a research note on Tuesday, November 26th. BMO Capital Markets raised their price objective on shares of Marriott International from $255.00 to $265.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 5th. Macquarie reissued a “neutral” rating and set a $245.00 target price on shares of Marriott International in a research note on Tuesday, November 5th. Finally, Evercore ISI raised shares of Marriott International from an “in-line” rating to an “outperform” rating and set a $330.00 price target for the company in a research note on Tuesday. Thirteen investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Marriott International currently has a consensus rating of “Hold” and an average price target of $276.35.

Insider Buying and Selling at Marriott International

In related news, insider William P. Brown sold 1,707 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $284.30, for a total value 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Anthony Capuano sold 8,332 shares of Marriott International stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $284.49, for a total value of $2,370,370.68. Following the completion of the transaction, the chief executive officer now owns 108,361 shares of the company’s stock, valued at approximately $30,827,620.89. This trade represents a 7.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,399 shares of company stock worth $3,529,238. Insiders own 10.07% of the company’s stock.

Marriott International Price Performance

NASDAQ MAR opened at $302.95 on Friday. Marriott International, Inc. has a 1 year low of $204.55 and a 1 year high of $304.13. The firm has a market cap of $84.19 billion, a price-to-earnings ratio of 31.69, a PEG ratio of 4.68 and a beta of 1.57. The company has a fifty day moving average price of $283.30 and a 200-day moving average price of $259.98.

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.