Eastern Bank Has $14.94 Million Stock Holdings in Marriott International, Inc. (NASDAQ:MAR)

Eastern Bank grew its holdings in Marriott International, Inc. (NASDAQ:MAR) by 0.2% in the third quarter, HoldingsChannel reports. The institutional investor owned 60,105 shares of the company’s stock after acquiring an additional 142 shares during the period. Eastern Bank’s holdings in Marriott International were worth $14,942,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Bangor Savings Bank lifted its holdings in Marriott International by 131.1% during the 2nd quarter. Bangor Savings Bank now owns 104 shares of the company’s stock valued at $25,000 after purchasing an additional 59 shares during the last quarter. Hantz Financial Services Inc. acquired a new stake in Marriott International in the 2nd quarter valued at about $26,000. MFA Wealth Advisors LLC acquired a new stake in Marriott International in the 2nd quarter valued at about $28,000. Annapolis Financial Services LLC acquired a new stake in Marriott International in the 1st quarter valued at about $34,000. Finally, Unique Wealth Strategies LLC acquired a new stake in Marriott International in the 2nd quarter valued at about $35,000. Institutional investors and hedge funds own 70.70% of the company’s stock.

Analyst Ratings Changes

MAR has been the subject of several research reports. BMO Capital Markets raised their price objective on shares of Marriott International from $240.00 to $255.00 and gave the company a “market perform” rating in a research report on Tuesday. Truist Financial lowered their price target on shares of Marriott International from $263.00 to $254.00 and set a “hold” rating for the company in a research report on Tuesday, August 6th. JPMorgan Chase & Co. lifted their price target on shares of Marriott International from $235.00 to $255.00 and gave the stock a “neutral” rating in a research report on Friday, July 19th. Barclays lifted their price target on shares of Marriott International from $240.00 to $251.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 17th. Finally, Robert W. Baird set a $258.00 price target on shares of Marriott International in a research report on Thursday, October 17th. Thirteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $255.16.

Marriott International Stock Up 0.2 %

Shares of NASDAQ MAR traded up $0.52 during mid-day trading on Tuesday, reaching $265.49. 416,621 shares of the company were exchanged, compared to its average volume of 1,471,275. The company’s 50-day simple moving average is $239.95 and its 200-day simple moving average is $238.44. The stock has a market capitalization of $75.83 billion, a P/E ratio of 27.40, a P/E/G ratio of 6.15 and a beta of 1.59. Marriott International, Inc. has a twelve month low of $180.75 and a twelve month high of $266.58.

Marriott International (NASDAQ:MAR) last released its quarterly earnings results on Wednesday, July 31st. The company reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.49 by $0.01. Marriott International had a negative return on equity of 239.60% and a net margin of 12.01%. The business had revenue of $6.44 billion during the quarter, compared to the consensus estimate of $6.47 billion. During the same period in the previous year, the company posted $2.26 EPS. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. As a group, equities research analysts expect that Marriott International, Inc. will post 9.37 EPS for the current year.

Marriott International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, August 16th were issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date of this dividend was Friday, August 16th. Marriott International’s dividend payout ratio is 26.01%.

Marriott International 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, City Express by Marriott, and St.