Summit Financial LLC Has $2.25 Million Holdings in Marriott International, Inc. (NASDAQ:MAR)

Summit Financial LLC boosted its stake in Marriott International, Inc. (NASDAQ:MAR) by 2.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,981 shares of the company’s stock after purchasing an additional 231 shares during the quarter. Summit Financial LLC’s holdings in Marriott International were worth $2,251,000 at the end of the most recent reporting period.

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

Insiders Place Their Bets

In related news, Director Eric Hippeau sold 1,400 shares of Marriott International stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $251.19, for a total transaction of $351,666.00. Following the transaction, the director now owns 72 shares in the company, valued at approximately $18,085.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Rena Hozore Reiss sold 3,563 shares of the stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $240.39, for a total transaction of $856,509.57. Following the completion of the sale, the executive vice president now owns 36,778 shares in the company, valued at approximately $8,841,063.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Eric Hippeau sold 1,400 shares of the stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $251.19, for a total value of $351,666.00. Following the completion of the transaction, the director now owns 72 shares of the company’s stock, valued at approximately $18,085.68. The disclosure for this sale can be found here. In the last three months, insiders sold 125,003 shares of company stock valued at $30,435,493. Company insiders own 12.32% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on MAR. Mizuho boosted their price target on Marriott International from $260.00 to $265.00 and gave the company a “neutral” rating in a research note on Thursday. Wells Fargo & Company upped their price target on Marriott International from $234.00 to $250.00 and gave the stock an “equal weight” rating in a report on Monday, March 18th. Barclays upped their price objective on Marriott International from $239.00 to $240.00 and gave the company an “equal weight” rating in a research note on Friday, April 19th. Truist Financial increased their price target on Marriott International from $233.00 to $263.00 and gave the stock a “hold” rating in a research note on Wednesday, February 14th. Finally, Robert W. Baird increased their price target on Marriott International from $248.00 to $250.00 and gave the stock a “neutral” rating in a research note on Thursday. Eleven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Marriott International presently has an average rating of “Hold” and a consensus price target of $237.13.

Marriott International Price Performance

MAR traded up $0.55 during trading hours on Thursday, reaching $234.41. The company’s stock had a trading volume of 46,268 shares, compared to its average volume of 1,439,179. The business’s 50-day moving average is $248.01 and its 200-day moving average is $228.08. Marriott International, Inc. has a fifty-two week low of $165.13 and a fifty-two week high of $260.57. The stock has a market cap of $67.74 billion, a PE ratio of 23.28, a P/E/G ratio of 5.27 and a beta of 1.61.

Marriott International (NASDAQ:MAR) last posted its quarterly earnings data on Tuesday, February 13th. The company reported $3.57 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $1.45. The business had revenue of $6.10 billion for the quarter, compared to analyst estimates of $6.20 billion. Marriott International had a negative return on equity of 848.49% and a net margin of 13.00%. The company’s revenue was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.96 earnings per share. Analysts expect that Marriott International, Inc. will post 9.46 EPS for the current year.

Marriott International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, February 22nd were paid a dividend of $0.52 per share. The ex-dividend date was Wednesday, February 21st. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.89%. Marriott International’s dividend payout ratio (DPR) is 20.41%.

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.