Marriott International (MAR) Shares Sold by Advisor Group Inc.
Advisor Group Inc. lessened its holdings in shares of Marriott International (NASDAQ:MAR) by 9.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 12,846 shares of the company’s stock after selling 1,324 shares during the quarter. Advisor Group Inc.’s holdings in Marriott International were worth $1,416,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Advisory Services Network LLC raised its stake in shares of Marriott International by 1,490.1% in the 2nd quarter. Advisory Services Network LLC now owns 1,129 shares of the company’s stock valued at $113,000 after purchasing an additional 1,058 shares during the period. First Quadrant L P CA acquired a new stake in shares of Marriott International in the 3rd quarter valued at about $136,000. Carroll Financial Associates Inc. raised its stake in shares of Marriott International by 175.6% in the 3rd quarter. Carroll Financial Associates Inc. now owns 1,323 shares of the company’s stock valued at $147,000 after purchasing an additional 843 shares during the period. Baker Ellis Asset Management LLC acquired a new stake in shares of Marriott International in the 2nd quarter valued at about $133,000. Finally, Oppenheimer Asset Management Inc. raised its stake in shares of Marriott International by 28.1% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 1,572 shares of the company’s stock valued at $158,000 after purchasing an additional 345 shares during the period. 65.88% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts recently issued reports on the company. J P Morgan Chase & Co reaffirmed an “overweight” rating and issued a $113.00 target price (up previously from $111.00) on shares of Marriott International in a research report on Wednesday, August 9th. Morgan Stanley lifted their target price on Marriott International from $110.00 to $112.00 and gave the company an “overweight” rating in a research report on Thursday, November 9th. Berenberg Bank reaffirmed a “buy” rating and issued a $125.00 target price on shares of Marriott International in a research report on Friday, August 18th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $115.00 target price (up previously from $98.00) on shares of Marriott International in a research report on Wednesday, November 8th. Finally, BidaskClub raised Marriott International from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 8th. One analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $108.62.
In related news, EVP Anthony Capuano sold 13,736 shares of the business’s stock in a transaction that occurred on Thursday, September 21st. The stock was sold at an average price of $107.78, for a total value of $1,480,466.08. Following the completion of the sale, the executive vice president now directly owns 42,669 shares in the company, valued at $4,598,864.82. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Argiris Kyriakidis sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, September 21st. The shares were sold at an average price of $107.84, for a total value of $323,520.00. Following the completion of the sale, the insider now owns 16,079 shares of the company’s stock, valued at $1,733,959.36. The disclosure for this sale can be found here. Over the last quarter, insiders sold 202,977 shares of company stock valued at $23,240,427. 11.32% of the stock is currently owned by corporate insiders.
Shares of Marriott International (NASDAQ MAR) opened at $125.48 on Friday. Marriott International has a 1-year low of $76.88 and a 1-year high of $125.64. The stock has a market capitalization of $45,747.63, a P/E ratio of 30.68, a PEG ratio of 3.14 and a beta of 1.34. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 1.83.
Marriott International (NASDAQ:MAR) last issued its quarterly earnings data on Tuesday, November 7th. The company reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.12. Marriott International had a return on equity of 31.58% and a net margin of 6.30%. The company had revenue of $5.66 billion during the quarter, compared to analysts’ expectations of $5.22 billion. During the same quarter in the previous year, the company posted $0.91 earnings per share. The business’s revenue was up 43.7% on a year-over-year basis. equities research analysts expect that Marriott International will post 4.24 EPS for the current year.
Marriott International declared that its Board of Directors has approved a stock repurchase plan on Thursday, November 9th that permits the company to buyback 30,000,000 shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Wednesday, November 22nd will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 1.05%. The ex-dividend date is Tuesday, November 21st. Marriott International’s dividend payout ratio (DPR) is currently 35.87%.
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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