Tritonpoint Wealth LLC reduced its position in Marriott International, Inc. (NASDAQ:MAR – Free Report) by 35.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,513 shares of the company’s stock after selling 5,874 shares during the quarter. Tritonpoint Wealth LLC’s holdings in Marriott International were worth $3,262,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Marriott International by 1.1% in the third quarter. Vanguard Group Inc. now owns 20,774,015 shares of the company’s stock valued at $5,410,384,000 after purchasing an additional 230,820 shares during the period. State Street Corp boosted its stake in shares of Marriott International by 1.2% in the 2nd quarter. State Street Corp now owns 9,488,566 shares of the company’s stock valued at $2,592,371,000 after purchasing an additional 114,973 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Marriott International by 21.7% in the 3rd quarter. Wellington Management Group LLP now owns 9,175,377 shares of the company’s stock worth $2,389,635,000 after acquiring an additional 1,637,119 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Marriott International by 7.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,921,767 shares of the company’s stock valued at $1,281,825,000 after purchasing an additional 330,952 shares during the period. Finally, Legal & General Group Plc lifted its position in shares of Marriott International by 9.3% during the 3rd quarter. Legal & General Group Plc now owns 1,465,420 shares of the company’s stock valued at $381,654,000 after acquiring an additional 124,759 shares during the period. 70.70% of the stock is currently owned by institutional investors and hedge funds.
Marriott International Price Performance
Marriott International stock opened at $331.93 on Friday. The stock has a market cap of $87.94 billion, a price-to-earnings ratio of 34.98, a PEG ratio of 2.93 and a beta of 1.10. The business has a 50-day simple moving average of $332.05 and a 200 day simple moving average of $304.56. Marriott International, Inc. has a 52 week low of $205.40 and a 52 week high of $370.00.
Marriott International Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Thursday, February 26th were issued a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Thursday, February 26th. Marriott International’s dividend payout ratio is 28.24%.
Analyst Ratings Changes
MAR has been the topic of several recent research reports. Barclays raised their price target on shares of Marriott International from $320.00 to $356.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 11th. Truist Financial raised their target price on Marriott International from $283.00 to $350.00 and gave the company a “hold” rating in a research report on Wednesday, February 11th. Weiss Ratings restated a “buy (b-)” rating on shares of Marriott International in a research report on Thursday, January 22nd. Evercore increased their price target on Marriott International from $320.00 to $350.00 and gave the stock an “outperform” rating in a research note on Thursday, January 22nd. Finally, Wells Fargo & Company upped their price objective on shares of Marriott International from $353.00 to $403.00 and gave the company an “overweight” rating in a report on Wednesday, February 11th. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, Marriott International presently has an average rating of “Moderate Buy” and an average price target of $343.47.
Check Out Our Latest Research Report on Marriott International
Insider Transactions at Marriott International
In other news, insider Rajeev Menon sold 6,333 shares of the business’s stock in a transaction on Wednesday, February 18th. The stock was sold at an average price of $356.61, for a total value of $2,258,411.13. Following the completion of the transaction, the insider owned 9,492 shares in the company, valued at $3,384,942.12. The trade was a 40.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Drew Pinto sold 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $359.81, for a total transaction of $1,439,240.00. Following the sale, the executive vice president owned 8,221 shares of the company’s stock, valued at $2,957,998.01. This trade represents a 32.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 95,540 shares of company stock worth $34,274,055 over the last quarter. Corporate insiders own 10.68% of the company’s stock.
Marriott International Company Profile
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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