Marriott International Inc (MAR) Shares Bought by AMP Capital Investors Ltd
AMP Capital Investors Ltd raised its stake in shares of Marriott International Inc (NASDAQ:MAR) by 9.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 126,069 shares of the company’s stock after purchasing an additional 10,408 shares during the quarter. AMP Capital Investors Ltd’s holdings in Marriott International were worth $13,899,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently made changes to their positions in MAR. Regal Wealth Group Inc. lifted its holdings in shares of Marriott International by 0.3% in the 2nd quarter. Regal Wealth Group Inc. now owns 1,637 shares of the company’s stock worth $164,000 after acquiring an additional 5 shares during the last quarter. Family Firm Inc. lifted its holdings in shares of Marriott International by 0.3% in the 2nd quarter. Family Firm Inc. now owns 2,931 shares of the company’s stock worth $294,000 after acquiring an additional 8 shares during the last quarter. Burt Wealth Advisors lifted its holdings in shares of Marriott International by 0.4% in the 2nd quarter. Burt Wealth Advisors now owns 8,029 shares of the company’s stock worth $805,000 after acquiring an additional 30 shares during the last quarter. Kopp Investment Advisors LLC lifted its holdings in shares of Marriott International by 0.3% in the 2nd quarter. Kopp Investment Advisors LLC now owns 11,481 shares of the company’s stock worth $1,152,000 after acquiring an additional 36 shares during the last quarter. Finally, Flagship Harbor Advisors LLC lifted its holdings in shares of Marriott International by 1.8% in the 2nd quarter. Flagship Harbor Advisors LLC now owns 2,322 shares of the company’s stock worth $233,000 after acquiring an additional 42 shares during the last quarter. Institutional investors and hedge funds own 66.83% of the company’s stock.
Shares of Marriott International Inc (MAR) opened at $129.32 on Friday. The firm has a market cap of $47,147.62, a PE ratio of 31.62, a PEG ratio of 3.23 and a beta of 1.35. The company has a debt-to-equity ratio of 1.83, a current ratio of 0.52 and a quick ratio of 0.52. Marriott International Inc has a 1 year low of $81.04 and a 1 year high of $129.99.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Wednesday, November 22nd will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date is Tuesday, November 21st. Marriott International’s dividend payout ratio is presently 35.87%.
Marriott International declared that its board has initiated a stock buyback plan on Thursday, November 9th that authorizes the company to buyback 30,000,000 outstanding shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.
A number of brokerages have recently weighed in on MAR. Morgan Stanley restated a “buy” rating on shares of Marriott International in a report on Friday. Deutsche Bank restated a “hold” rating and issued a $124.00 price objective on shares of Marriott International in a report on Wednesday. Barclays boosted their price objective on shares of Marriott International from $105.00 to $130.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 28th. Sanford C. Bernstein downgraded shares of Marriott International from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 16th. Finally, Robert W. Baird lifted their target price on shares of Marriott International from $111.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, November 10th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $110.86.
In related news, insider David Grissen sold 2,139 shares of the company’s stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $127.73, for a total value of $273,214.47. Following the transaction, the insider now owns 47,340 shares in the company, valued at approximately $6,046,738.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Deborah Marriott Harrison sold 130,000 shares of the company’s stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $119.17, for a total transaction of $15,492,100.00. Following the completion of the transaction, the insider now owns 114,155 shares in the company, valued at approximately $13,603,851.35. The disclosure for this sale can be found here. Insiders sold a total of 190,206 shares of company stock worth $22,611,140 over the last ninety days. Insiders own 11.32% of the company’s stock.
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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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