SlateStone Wealth LLC Reduces Position in Marriott International, Inc. (NASDAQ:MAR)

SlateStone Wealth LLC lowered its position in shares of Marriott International, Inc. (NASDAQ:MAR) by 7.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,080 shares of the company’s stock after selling 90 shares during the quarter. SlateStone Wealth LLC’s holdings in Marriott International were worth $244,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. OFI Invest Asset Management purchased a new position in shares of Marriott International during the third quarter valued at approximately $25,000. ORG Partners LLC raised its stake in shares of Marriott International by 72.6% during the 4th quarter. ORG Partners LLC now owns 126 shares of the company’s stock valued at $29,000 after buying an additional 53 shares during the last quarter. Keener Financial Planning LLC acquired a new position in Marriott International in the 4th quarter valued at $30,000. Anchor Investment Management LLC acquired a new stake in shares of Marriott International during the 4th quarter worth about $31,000. Finally, Wetzel Investment Advisors Inc. acquired a new position in shares of Marriott International during the fourth quarter worth about $33,000. Hedge funds and other institutional investors own 70.70% of the company’s stock.

Insider Activity

In other news, insider Satyajit Anand sold 2,749 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $251.93, for a total transaction of $692,555.57. Following the sale, the insider now directly owns 24,478 shares in the company, valued at $6,166,742.54. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Satyajit Anand sold 2,749 shares of Marriott International stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $251.93, for a total transaction of $692,555.57. Following the transaction, the insider now owns 24,478 shares in the company, valued at approximately $6,166,742.54. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Rena Hozore Reiss sold 3,563 shares of Marriott International stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $240.39, for a total value of $856,509.57. Following the completion of the transaction, the executive vice president now owns 36,778 shares of the company’s stock, valued at approximately $8,841,063.42. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 125,003 shares of company stock worth $30,435,493. Insiders own 10.07% of the company’s stock.

Marriott International Trading Up 2.9 %

Shares of NASDAQ:MAR traded up $7.06 during trading on Wednesday, reaching $246.75. The stock had a trading volume of 557,132 shares, compared to its average volume of 1,430,504. The firm’s 50-day simple moving average is $248.18 and its 200 day simple moving average is $226.48. The company has a market capitalization of $71.30 billion, a P/E ratio of 23.52, a PEG ratio of 1.73 and a beta of 1.62. Marriott International, Inc. has a one year low of $162.77 and a one year high of $260.57.

Marriott International (NASDAQ:MAR) last posted its earnings results on Tuesday, February 13th. The company reported $3.57 EPS for the quarter, beating analysts’ consensus estimates of $2.12 by $1.45. The company had revenue of $6.10 billion for the quarter, compared to analysts’ expectations of $6.20 billion. Marriott International had a net margin of 13.00% and a negative return on equity of 848.49%. Marriott International’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.96 earnings per share. Equities research analysts forecast that Marriott International, Inc. will post 9.46 earnings per share for the current fiscal year.

Marriott International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, February 22nd were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Wednesday, February 21st. This represents a $2.08 annualized dividend and a yield of 0.84%. Marriott International’s payout ratio is 20.41%.

Analysts Set New Price Targets

MAR has been the subject of several research analyst reports. Argus increased their price objective on Marriott International from $270.00 to $280.00 and gave the stock a “buy” rating in a research note on Tuesday, March 19th. Wells Fargo & Company upped their target price on shares of Marriott International from $234.00 to $250.00 and gave the stock an “equal weight” rating in a research note on Monday, March 18th. Truist Financial upped their price objective on Marriott International from $233.00 to $263.00 and gave the stock a “hold” rating in a report on Wednesday, February 14th. Jefferies Financial Group raised their price objective on shares of Marriott International from $205.00 to $227.00 and gave the stock a “hold” rating in a report on Tuesday, January 2nd. Finally, Barclays boosted their price target on shares of Marriott International from $239.00 to $240.00 and gave the company an “equal weight” rating in a report on Friday, April 19th. Eleven analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $236.69.

About Marriott International

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, and City Express by Marriott brand names, as well as operates residences, timeshares, and yachts.