ICICI Prudential Asset Management Co Ltd Trims Stake in Marriott International, Inc. (NASDAQ:MAR)

ICICI Prudential Asset Management Co Ltd reduced its position in Marriott International, Inc. (NASDAQ:MAR) by 1.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,618 shares of the company’s stock after selling 57 shares during the quarter. ICICI Prudential Asset Management Co Ltd’s holdings in Marriott International were worth $1,009,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sound Income Strategies LLC increased its position in shares of Marriott International by 494.4% during the fourth quarter. Sound Income Strategies LLC now owns 107 shares of the company’s stock worth $30,000 after acquiring an additional 89 shares during the period. Wingate Wealth Advisors Inc. purchased a new position in shares of Marriott International during the fourth quarter worth approximately $33,000. Silvant Capital Management LLC purchased a new position in shares of Marriott International during the third quarter worth approximately $31,000. Darwin Wealth Management LLC purchased a new position in shares of Marriott International during the third quarter worth approximately $33,000. Finally, Heck Capital Advisors LLC purchased a new position in shares of Marriott International during the fourth quarter worth approximately $38,000. 70.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on MAR. Susquehanna raised their target price on shares of Marriott International from $255.00 to $285.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 12th. Evercore ISI raised shares of Marriott International from an “in-line” rating to an “outperform” rating and set a $330.00 price objective on the stock in a report on Tuesday, February 4th. TD Cowen cut their price objective on shares of Marriott International from $295.00 to $283.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th. Wells Fargo & Company cut their price objective on shares of Marriott International from $285.00 to $277.00 and set an “equal weight” rating on the stock in a report on Tuesday. Finally, Sanford C. Bernstein lifted their price objective on shares of Marriott International from $262.00 to $290.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Thirteen analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $284.05.

Marriott International Stock Performance

MAR opened at $288.42 on Wednesday. Marriott International, Inc. has a fifty-two week low of $204.55 and a fifty-two week high of $307.52. The company has a fifty day moving average of $284.06 and a two-hundred day moving average of $263.97. The stock has a market capitalization of $79.52 billion, a price-to-earnings ratio of 34.67, a PEG ratio of 3.38 and a beta of 1.57.

Marriott International (NASDAQ:MAR) last released its quarterly earnings results on Tuesday, February 11th. The company reported $2.45 earnings per share for the quarter, topping the consensus estimate of $2.37 by $0.08. Marriott International had a net margin of 9.46% and a negative return on equity of 116.67%. On average, equities research analysts forecast that Marriott International, Inc. will post 10.1 earnings per share for the current year.

Marriott International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, February 27th will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is Thursday, February 27th. This represents a $2.52 annualized dividend and a dividend yield of 0.87%. Marriott International’s dividend payout ratio (DPR) is presently 30.29%.

Insider Buying and Selling

In other Marriott International news, insider William P. Brown sold 1,707 shares of the stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $284.30, for a total value of $485,300.10. Following the completion of the sale, the insider now owns 23,077 shares in the company, valued at approximately $6,560,791.10. This represents a 6.89 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 10.07% of the company’s stock.

Marriott International Profile

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, City Express by Marriott, and St.