Marriott International, Inc. (NASDAQ:MAR) Shares Bought by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. lifted its stake in shares of Marriott International, Inc. (NASDAQ:MARFree Report) by 4.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,229 shares of the company’s stock after purchasing an additional 94 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Marriott International were worth $503,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in MAR. OFI Invest Asset Management acquired a new position in shares of Marriott International during the 3rd quarter worth $25,000. Resurgent Financial Advisors LLC purchased a new stake in shares of Marriott International in the 4th quarter worth about $25,000. ICA Group Wealth Management LLC purchased a new stake in shares of Marriott International in the 4th quarter worth about $28,000. Coppell Advisory Solutions Corp. purchased a new stake in shares of Marriott International in the 4th quarter worth about $28,000. Finally, Anchor Investment Management LLC purchased a new stake in shares of Marriott International in the 4th quarter worth about $31,000. 70.70% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Kathleen K. Oberg sold 47,109 shares of Marriott International stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $242.71, for a total transaction of $11,433,825.39. Following the sale, the chief financial officer now owns 20,036 shares in the company, valued at $4,862,937.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Kathleen K. Oberg sold 47,109 shares of Marriott International stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $242.71, for a total transaction of $11,433,825.39. Following the sale, the chief financial officer now owns 20,036 shares in the company, valued at $4,862,937.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Satyajit Anand sold 2,749 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $251.93, for a total transaction of $692,555.57. Following the sale, the insider now directly owns 24,478 shares of the company’s stock, valued at approximately $6,166,742.54. The disclosure for this sale can be found here. Insiders have sold 125,003 shares of company stock worth $30,435,493 over the last 90 days. Company insiders own 12.32% of the company’s stock.

Marriott International Stock Performance

NASDAQ MAR opened at $250.59 on Thursday. Marriott International, Inc. has a one year low of $161.01 and a one year high of $256.53. The company’s 50 day moving average price is $247.06 and its 200 day moving average price is $221.02. The firm has a market capitalization of $72.41 billion, a price-to-earnings ratio of 24.59, a PEG ratio of 1.83 and a beta of 1.62.

Marriott International (NASDAQ:MARGet Free Report) last posted its quarterly earnings results on Tuesday, February 13th. The company reported $3.57 EPS for the quarter, beating the consensus estimate of $2.12 by $1.45. Marriott International had a net margin of 13.00% and a negative return on equity of 848.49%. The firm had revenue of $6.10 billion for the quarter, compared to analyst estimates of $6.20 billion. During the same quarter last year, the firm posted $1.96 earnings per share. Marriott International’s revenue for the quarter was up 2.9% compared to the same quarter last year. Sell-side analysts forecast that Marriott International, Inc. will post 9.47 EPS for the current fiscal year.

Marriott International Announces Dividend

The company 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 of this dividend was Wednesday, February 21st. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.83%. Marriott International’s dividend payout ratio is currently 20.41%.

Wall Street Analysts Forecast Growth

MAR has been the topic of several recent research reports. Wells Fargo & Company boosted their price objective on shares of Marriott International from $234.00 to $250.00 and gave the stock an “equal weight” rating in a research report on Monday, March 18th. Barclays boosted their price objective on shares of Marriott International from $234.00 to $239.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 14th. Argus raised their price target on shares of Marriott International from $270.00 to $280.00 and gave the stock a “buy” rating in a research note on Tuesday, March 19th. Mizuho initiated coverage on shares of Marriott International in a research note on Tuesday, March 26th. They set a “neutral” rating and a $263.00 price target on the stock. Finally, Jefferies Financial Group raised their price target on shares of Marriott International from $205.00 to $227.00 and gave the stock a “hold” rating in a research note on Tuesday, January 2nd. Eleven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, Marriott International presently has an average rating of “Hold” and a consensus price target of $236.81.

Get Our Latest Stock Analysis on Marriott International

Marriott International Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Marriott International (NASDAQ:MAR)

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