AE Wealth Management LLC raised its holdings in shares of Marriott International, Inc. (NASDAQ:MAR – Get Rating) by 28.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 36,828 shares of the company’s stock after acquiring an additional 8,054 shares during the quarter. AE Wealth Management LLC’s holdings in Marriott International were worth $5,483,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Marriott International by 2.4% in the 3rd quarter. Vanguard Group Inc. now owns 23,035,518 shares of the company’s stock valued at $3,228,198,000 after purchasing an additional 548,630 shares during the last quarter. BlackRock Inc. raised its stake in Marriott International by 1.7% during the 3rd quarter. BlackRock Inc. now owns 16,499,816 shares of the company’s stock valued at $2,312,285,000 after acquiring an additional 281,614 shares during the last quarter. State Street Corp raised its stake in Marriott International by 0.5% during the 3rd quarter. State Street Corp now owns 10,763,120 shares of the company’s stock valued at $1,508,344,000 after acquiring an additional 51,077 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in Marriott International by 5.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 7,591,393 shares of the company’s stock valued at $1,063,858,000 after acquiring an additional 371,366 shares during the last quarter. Finally, Jennison Associates LLC raised its stake in Marriott International by 3.0% during the 3rd quarter. Jennison Associates LLC now owns 5,301,911 shares of the company’s stock valued at $743,010,000 after acquiring an additional 153,512 shares during the last quarter. 58.97% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several analysts have commented on MAR shares. StockNews.com started coverage on Marriott International in a research note on Thursday, March 16th. They set a “buy” rating for the company. Robert W. Baird upped their price objective on Marriott International from $183.00 to $187.00 and gave the company a “neutral” rating in a research note on Monday, February 27th. TD Cowen increased their target price on Marriott International from $170.00 to $172.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 28th. Barclays increased their target price on Marriott International from $173.00 to $176.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 15th. Finally, Morgan Stanley increased their target price on Marriott International from $195.00 to $197.00 and gave the stock an “overweight” rating in a research note on Monday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Marriott International currently has a consensus rating of “Hold” and an average price target of $179.67.
Marriott International Stock Performance
Marriott International (NASDAQ:MAR – Get Rating) last announced its earnings results on Tuesday, February 14th. The company reported $1.96 EPS for the quarter, beating analysts’ consensus estimates of $1.84 by $0.12. Marriott International had a return on equity of 168.43% and a net margin of 11.35%. The firm had revenue of $5.92 billion for the quarter, compared to analysts’ expectations of $5.38 billion. During the same quarter in the prior year, the firm earned $1.30 EPS. Marriott International’s quarterly revenue was up 33.2% on a year-over-year basis. As a group, equities analysts anticipate that Marriott International, Inc. will post 7.76 EPS for the current fiscal year.
Marriott International Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, March 31st. Shareholders of record on Friday, February 24th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date was Thursday, February 23rd. This is a positive change from Marriott International’s previous quarterly dividend of $0.30. Marriott International’s dividend payout ratio is currently 22.04%.
Insiders Place Their Bets
In other news, CFO Kathleen K. Oberg sold 5,765 shares of the firm’s stock in a transaction dated Thursday, February 16th. The stock was sold at an average price of $179.18, for a total value of $1,032,972.70. Following the transaction, the chief financial officer now directly owns 20,630 shares in the company, valued at approximately $3,696,483.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CFO Kathleen K. Oberg sold 5,765 shares of the stock in a transaction on Thursday, February 16th. The shares were sold at an average price of $179.18, for a total value of $1,032,972.70. Following the completion of the sale, the chief financial officer now owns 20,630 shares of the company’s stock, valued at $3,696,483.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Rena Hozore Reiss sold 7,821 shares of the company’s stock in a transaction on Friday, February 17th. The stock was sold at an average price of $172.02, for a total transaction of $1,345,368.42. Following the sale, the executive vice president now directly owns 16,284 shares of the company’s stock, valued at $2,801,173.68. The disclosure for this sale can be found here. Insiders have sold a total of 22,711 shares of company stock valued at $3,962,349 in the last quarter. 12.32% of the stock is currently owned by company insiders.
About Marriott International
Marriott International, Inc engages in the operation and franchise of hotel, residential, and timeshare properties. It operates through the following geography segments: U.S. & Canada, Asia Pacific, and Europe, Middle East and Africa (EMEA). The company was founded by J. Willard Marriott and Alice Sheets Marriott in 1927 and is headquartered in Bethesda, MD.
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