Marriott International (MAR) Shares Bought by Lincoln National Corp
Lincoln National Corp boosted its position in Marriott International (NASDAQ:MAR) by 0.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 19,835 shares of the company’s stock after buying an additional 70 shares during the period. Lincoln National Corp’s holdings in Marriott International were worth $1,990,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Sumitomo Mitsui Trust Holdings Inc. increased its stake in Marriott International by 2.9% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 950,310 shares of the company’s stock worth $95,326,000 after buying an additional 26,729 shares during the period. TrimTabs Asset Management LLC increased its stake in Marriott International by 55.4% in the second quarter. TrimTabs Asset Management LLC now owns 2,427 shares of the company’s stock worth $243,000 after buying an additional 865 shares during the period. Boston Private Wealth LLC increased its stake in Marriott International by 5.9% in the second quarter. Boston Private Wealth LLC now owns 3,611 shares of the company’s stock worth $362,000 after buying an additional 200 shares during the period. State Board of Administration of Florida Retirement System increased its stake in Marriott International by 0.4% in the second quarter. State Board of Administration of Florida Retirement System now owns 464,419 shares of the company’s stock worth $46,586,000 after buying an additional 2,054 shares during the period. Finally, Marshall Wace LLP purchased a new stake in Marriott International during the second quarter worth $400,000. Hedge funds and other institutional investors own 67.11% of the company’s stock.
Marriott International (NASDAQ MAR) opened at 101.575 on Wednesday. The stock has a 50 day moving average of $101.71 and a 200-day moving average of $97.16. Marriott International has a 1-year low of $65.91 and a 1-year high of $110.51. The firm has a market capitalization of $37.83 billion, a P/E ratio of 33.336 and a beta of 1.36.
Marriott International (NASDAQ:MAR) last released its quarterly earnings results on Monday, August 7th. The company reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.02 by $0.11. Marriott International had a net margin of 5.27% and a return on equity of 26.26%. The company had revenue of $5.80 billion for the quarter, compared to analyst estimates of $5.73 billion. During the same period last year, the firm earned $1.03 earnings per share. The firm’s revenue was up 48.5% on a year-over-year basis. On average, equities research analysts anticipate that Marriott International will post $4.14 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Thursday, August 24th will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.29%. The ex-dividend date is Tuesday, August 22nd. Marriott International’s payout ratio is currently 45.52%.
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A number of research firms have weighed in on MAR. Berenberg Bank restated a “buy” rating and issued a $125.00 target price on shares of Marriott International in a research report on Friday, August 18th. BidaskClub downgraded Marriott International from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 14th. UBS AG reiterated a “neutral” rating and set a $101.00 price objective (up previously from $98.00) on shares of Marriott International in a research report on Monday, August 14th. J P Morgan Chase & Co reiterated an “overweight” rating and set a $113.00 price objective (up previously from $111.00) on shares of Marriott International in a research report on Wednesday, August 9th. Finally, Zacks Investment Research upgraded Marriott International from a “sell” rating to a “hold” rating in a research report on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eleven have issued a buy rating to the stock. Marriott International presently has an average rating of “Hold” and a consensus price target of $100.08.
In related news, insider David S. Marriott sold 8,400 shares of the firm’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $100.51, for a total transaction of $844,284.00. Following the transaction, the insider now directly owns 629,136 shares of the company’s stock, valued at $63,234,459.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider B. Marriott Marital Tr Juliana sold 30,000 shares of the firm’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $99.84, for a total transaction of $2,995,200.00. Following the transaction, the insider now directly owns 493,896 shares in the company, valued at $49,310,576.64. The disclosure for this sale can be found here. Insiders have sold 60,033 shares of company stock worth $6,054,855 over the last three months. 11.32% of the stock is owned by insiders.
Marriott International Company Profile
Marriott International, Inc (Marriott International) is a lodging company. Marriott International operates in three business segments: North American Full-Service, North American Limited-Service and International. Its North American Full-Service segment includes its Luxury and Premium brands (JW Marriott, Marriott Hotels, Sheraton, Westin, Renaissance Hotels, Le Meridien, Autograph Collection Hotels, Delta Hotels, Gaylord Hotels, and Tribute Portfolio) located in the United States and Canada.
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