Moran Wealth Management LLC Acquires 53 Shares of Marriott International, Inc. (NASDAQ:MAR)

Moran Wealth Management LLC increased its holdings in shares of Marriott International, Inc. (NASDAQ:MAR) by 2.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,562 shares of the company’s stock after acquiring an additional 53 shares during the period. Moran Wealth Management LLC’s holdings in Marriott International were worth $637,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Darwin Wealth Management LLC bought a new position in shares of Marriott International in the third quarter worth approximately $33,000. Commerce Bank lifted its position in Marriott International by 3.6% in the 3rd quarter. Commerce Bank now owns 11,361 shares of the company’s stock valued at $2,824,000 after acquiring an additional 393 shares in the last quarter. Premier Fund Managers Ltd boosted its stake in Marriott International by 31.6% during the 3rd quarter. Premier Fund Managers Ltd now owns 250,000 shares of the company’s stock valued at $63,266,000 after purchasing an additional 60,000 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Marriott International by 3.0% in the 3rd quarter. PNC Financial Services Group Inc. now owns 443,103 shares of the company’s stock worth $110,156,000 after purchasing an additional 12,702 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Marriott International in the third quarter worth $2,148,000. Institutional investors own 70.70% of the company’s stock.

Marriott International Stock Up 0.3 %

Shares of Marriott International stock opened at $284.29 on Friday. Marriott International, Inc. has a 52 week low of $200.94 and a 52 week high of $289.04. The stock’s 50-day simple moving average is $261.88 and its 200-day simple moving average is $243.34. The company has a market capitalization of $79.00 billion, a price-to-earnings ratio of 29.74, a PEG ratio of 5.49 and a beta of 1.58.

Marriott International (NASDAQ:MAR) last released its earnings results on Monday, November 4th. The company reported $2.26 EPS for the quarter, missing the consensus estimate of $2.31 by ($0.05). The company had revenue of $6.26 billion during the quarter, compared to analysts’ expectations of $6.27 billion. Marriott International had a negative return on equity of 177.91% and a net margin of 11.18%. Marriott International’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same period last year, the firm posted $2.11 EPS. On average, equities analysts expect that Marriott International, Inc. will post 9.26 earnings per share for the current year.

Marriott International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Thursday, November 21st will be given a $0.63 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $2.52 dividend on an annualized basis and a dividend yield of 0.89%. Marriott International’s dividend payout ratio is currently 26.36%.

Wall Street Analyst Weigh In

Several research firms have issued reports on MAR. Truist Financial lowered their target price on shares of Marriott International from $263.00 to $254.00 and set a “hold” rating on the stock in a research note on Tuesday, August 6th. Barclays raised their target price on shares of Marriott International from $240.00 to $249.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 5th. Wells Fargo & Company boosted their target price on shares of Marriott International from $238.00 to $261.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 22nd. Deutsche Bank Aktiengesellschaft cut their price objective on Marriott International from $222.00 to $216.00 and set a “hold” rating for the company in a report on Thursday, August 1st. Finally, TD Cowen dropped their target price on Marriott International from $295.00 to $283.00 and set a “buy” rating on the stock in a research report on Tuesday, November 5th. Thirteen research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $259.00.

Insider Activity at Marriott International

In other news, CFO Kathleen K. Oberg sold 2,360 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $285.41, for a total value of $673,567.60. Following the sale, the chief financial officer now owns 39,726 shares of the company’s stock, valued at approximately $11,338,197.66. This represents a 5.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Benjamin T. Breland sold 500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $274.49, for a total value of $137,245.00. Following the sale, the executive vice president now directly owns 12,286 shares of the company’s stock, valued at $3,372,384.14. This represents a 3.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 12,108 shares of company stock valued at $3,434,439. Insiders own 12.32% of the company’s stock.

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, City Express by Marriott, and St.