Whitaker Myers Wealth Managers LTD. bought a new position in Marriott International, Inc. (NASDAQ:MAR – Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 6,126 shares of the company’s stock, valued at approximately $2,270,000.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Frederick Financial Consultants LLC increased its holdings in shares of Marriott International by 0.8% in the 4th quarter. Frederick Financial Consultants LLC now owns 3,531 shares of the company’s stock worth $1,095,000 after acquiring an additional 28 shares during the period. Haven Capital Group Inc. boosted its stake in Marriott International by 0.3% during the 1st quarter. Haven Capital Group Inc. now owns 10,064 shares of the company’s stock valued at $3,292,000 after purchasing an additional 30 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in Marriott International by 1.2% in the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 2,472 shares of the company’s stock worth $808,000 after purchasing an additional 30 shares during the last quarter. Paragon Private Wealth Management LLC grew its position in Marriott International by 4.4% in the 1st quarter. Paragon Private Wealth Management LLC now owns 743 shares of the company’s stock worth $243,000 after purchasing an additional 31 shares during the last quarter. Finally, Transamerica Financial Advisors LLC increased its stake in shares of Marriott International by 34.8% in the fourth quarter. Transamerica Financial Advisors LLC now owns 120 shares of the company’s stock valued at $37,000 after purchasing an additional 31 shares during the period. Institutional investors and hedge funds own 70.70% of the company’s stock.
Marriott International Stock Performance
Shares of MAR stock opened at $353.91 on Friday. The business’s fifty day moving average is $377.05 and its 200-day moving average is $355.24. Marriott International, Inc. has a 1 year low of $256.49 and a 1 year high of $410.98. The stock has a market cap of $92.29 billion, a PE ratio of 36.67, a price-to-earnings-growth ratio of 2.75 and a beta of 1.10.
Marriott International Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Thursday, August 20th will be given a $0.73 dividend. The ex-dividend date is Thursday, August 20th. This represents a $2.92 annualized dividend and a yield of 0.8%. Marriott International’s payout ratio is 30.26%.
Insider Activity at Marriott International
In other news, EVP Peggy Roe sold 3,000 shares of the firm’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $361.56, for a total transaction of $1,084,680.00. Following the completion of the sale, the executive vice president directly owned 19,827 shares of the company’s stock, valued at $7,168,650.12. This trade represents a 13.14% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 11.43% of the company’s stock.
Analysts Set New Price Targets
Several brokerages have recently issued reports on MAR. Mizuho reduced their price objective on Marriott International from $384.00 to $374.00 and set a “neutral” rating for the company in a research report on Tuesday, August 4th. Morgan Stanley lifted their target price on Marriott International from $353.00 to $380.00 and gave the company an “overweight” rating in a research note on Friday, July 17th. Truist Financial boosted their price target on Marriott International from $350.00 to $356.00 and gave the stock a “hold” rating in a research report on Tuesday, May 26th. Weiss Ratings reissued a “buy (b)” rating on shares of Marriott International in a report on Monday, May 11th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Marriott International from $387.00 to $400.00 and gave the stock a “neutral” rating in a report on Tuesday, July 21st. Nine research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $386.65.
Check Out Our Latest Stock Analysis on MAR
About Marriott International
Marriott International is a global lodging company that develops, manages and franchises a broad portfolio of hotels and related lodging facilities. Its core activities include hotel and resort management, franchise operations, property development and the provision of centralized services such as reservations, marketing and loyalty program management. The company’s brand architecture spans market segments from luxury and premium to select-service and extended-stay, enabling it to serve a wide range of business and leisure travelers as well as corporate and group customers.
The company traces its roots to the hospitality business founded by J.
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