abrdn plc Boosts Stock Holdings in Marriott International, Inc. (NASDAQ:MAR)

abrdn plc raised its holdings in shares of Marriott International, Inc. (NASDAQ:MAR) by 64.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 102,617 shares of the company’s stock after buying an additional 40,142 shares during the period. abrdn plc’s holdings in Marriott International were worth $23,141,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. FMR LLC raised its stake in Marriott International by 16.1% in the third quarter. FMR LLC now owns 8,634,610 shares of the company’s stock worth $1,697,219,000 after buying an additional 1,194,665 shares in the last quarter. Morgan Stanley raised its stake in Marriott International by 1.4% in the third quarter. Morgan Stanley now owns 4,711,029 shares of the company’s stock worth $926,000,000 after buying an additional 63,411 shares in the last quarter. Invesco Ltd. raised its stake in Marriott International by 1.8% in the third quarter. Invesco Ltd. now owns 2,734,680 shares of the company’s stock worth $537,529,000 after buying an additional 48,872 shares in the last quarter. Northern Trust Corp raised its stake in Marriott International by 0.5% in the third quarter. Northern Trust Corp now owns 2,461,649 shares of the company’s stock worth $483,862,000 after buying an additional 12,901 shares in the last quarter. Finally, Parnassus Investments LLC bought a new position in Marriott International in the third quarter worth about $481,621,000. 70.70% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MAR has been the subject of a number of research reports. Barclays increased their price target on shares of Marriott International from $239.00 to $240.00 and gave the stock an “equal weight” rating in a research note on Friday, April 19th. BMO Capital Markets raised their target price on shares of Marriott International from $230.00 to $235.00 and gave the company a “market perform” rating in a research note on Wednesday, February 14th. UBS Group raised their target price on shares of Marriott International from $210.00 to $259.00 and gave the company a “neutral” rating in a research note on Wednesday, February 28th. Argus raised their target price on shares of Marriott International from $270.00 to $280.00 and gave the company a “buy” rating in a research note on Tuesday, March 19th. Finally, Truist Financial raised their target price on shares of Marriott International from $233.00 to $263.00 and gave the company a “hold” rating in a research note on Wednesday, February 14th. Eleven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $236.69.

Insider Transactions at Marriott International

In other news, EVP Rena Hozore Reiss sold 3,563 shares of Marriott International stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $240.39, for a total transaction of $856,509.57. Following the transaction, 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Eric Hippeau sold 1,400 shares of the firm’s 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 sale, the director now directly owns 72 shares in the company, valued at approximately $18,085.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Rena Hozore Reiss sold 3,563 shares of the firm’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $240.39, for a total transaction of $856,509.57. Following the sale, the executive vice president now owns 36,778 shares in the company, valued at $8,841,063.42. The disclosure for this sale can be found here. Insiders have sold 125,003 shares of company stock worth $30,435,493 in the last 90 days. 10.07% of the stock is currently owned by insiders.

Marriott International Trading Up 1.0 %

Shares of MAR stock opened at $239.69 on Wednesday. Marriott International, Inc. has a 12-month low of $162.77 and a 12-month high of $260.57. The firm’s 50 day moving average is $248.18 and its 200 day moving average is $226.48. The stock has a market capitalization of $69.26 billion, a P/E ratio of 23.52, a P/E/G ratio of 1.73 and a beta of 1.62.

Marriott International (NASDAQ:MAR) last issued its earnings results on Tuesday, February 13th. The company reported $3.57 earnings per share (EPS) for the quarter, topping 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 company had revenue of $6.10 billion for the quarter, compared to analysts’ expectations of $6.20 billion. During the same quarter last year, the company posted $1.96 earnings per share. The firm’s quarterly revenue was up 2.9% on a year-over-year basis. As a group, equities analysts predict that Marriott International, Inc. will post 9.46 earnings per share for the current year.

Marriott International Dividend Announcement

The firm also recently declared 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. This represents a $2.08 annualized dividend and a dividend yield of 0.87%. The ex-dividend date was Wednesday, February 21st. Marriott International’s dividend payout ratio is presently 20.41%.

Marriott International Company 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, and City Express by Marriott brand names, as well as operates residences, timeshares, and yachts.