Marriott International, Inc. (NASDAQ:MAR) Shares Sold by Integrated Wealth Concepts LLC

Posted by Defense World Staff on Jun 11th, 2023

Integrated Wealth Concepts LLC lowered its position in Marriott International, Inc. (NASDAQ:MAR – Get Rating) by 6.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,927 shares of the company’s stock after selling 217 shares during the quarter. Integrated Wealth Concepts LLC’s holdings in Marriott International were worth $436,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership raised its stake in Marriott International by 1,066.7% in the first quarter. Arrowstreet Capital Limited Partnership now owns 2,157,619 shares of the company’s stock valued at $379,202,000 after buying an additional 1,972,684 shares in the last quarter. Cottage Street Advisors LLC increased its stake in Marriott International by 14,240.1% in the fourth quarter. Cottage Street Advisors LLC now owns 1,104,186 shares of the company’s stock valued at $365,000 after purchasing an additional 1,096,486 shares during the last quarter. Renaissance Technologies LLC increased its stake in Marriott International by 235.6% in the fourth quarter. Renaissance Technologies LLC now owns 943,462 shares of the company’s stock valued at $140,472,000 after purchasing an additional 662,346 shares during the last quarter. HS Management Partners LLC purchased a new position in Marriott International in the third quarter valued at approximately $91,541,000. Finally, Vanguard Group Inc. increased its stake in Marriott International by 2.4% in the third 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. Hedge funds and other institutional investors own 58.97% of the company’s stock.

Insider Activity at Marriott International

In related news, EVP Benjamin T. Breland sold 625 shares of the stock in a transaction dated Thursday, March 30th. The shares were sold at an average price of $163.06, for a total value of $101,912.50. Following the sale, the executive vice president now directly owns 9,079 shares of the company’s stock, valued at approximately $1,480,421.74. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, EVP Drew Pinto sold 700 shares of the business’s stock in a transaction dated Monday, May 8th. The shares were sold at an average price of $176.75, for a total value of $123,725.00. Following the completion of the transaction, the executive vice president now owns 4,734 shares of the company’s stock, valued at approximately $836,734.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Benjamin T. Breland sold 625 shares of the business’s stock in a transaction dated Thursday, March 30th. The shares were sold at an average price of $163.06, for a total transaction of $101,912.50. Following the completion of the transaction, the executive vice president now directly owns 9,079 shares of the company’s stock, valued at approximately $1,480,421.74. The disclosure for this sale can be found here. In the last three months, insiders have sold 17,484 shares of company stock valued at $3,074,954. Insiders own 12.32% of the company’s stock.

Analyst Ratings Changes

MAR has been the subject of several research analyst reports. Barclays upped their price objective on shares of Marriott International from $176.00 to $188.00 in a research note on Wednesday, May 3rd. TheStreet cut Marriott International from a “b” rating to a “c+” rating in a research note on Monday, May 8th. Credit Suisse Group boosted their price objective on Marriott International from $185.00 to $205.00 and gave the company a “hold” rating in a research note on Thursday, February 16th. StockNews.com upgraded Marriott International from a “hold” rating to a “buy” rating in a research note on Thursday, May 11th. Finally, 51job restated a “maintains” rating on shares of Marriott International in a research note on Wednesday, May 3rd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Marriott International has an average rating of “Hold” and an average target price of $184.00.

Marriott International Stock Performance

NASDAQ:MAR opened at $179.01 on Friday. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 73.56. Marriott International, Inc. has a fifty-two week low of $131.01 and a fifty-two week high of $183.27. The stock has a market cap of $54.30 billion, a PE ratio of 20.94, a price-to-earnings-growth ratio of 1.37 and a beta of 1.58. The firm’s fifty day simple moving average is $172.11 and its 200-day simple moving average is $166.43.

Marriott International (NASDAQ:MAR – Get Rating) last announced its quarterly earnings results on Tuesday, May 2nd. The company reported $2.09 EPS for the quarter, topping the consensus estimate of $1.86 by $0.23. Marriott International had a return on equity of 272.54% and a net margin of 12.34%. The business had revenue of $5.62 billion for the quarter, compared to analyst estimates of $5.44 billion. During the same quarter in the previous year, the company earned $1.25 EPS. The company’s quarterly revenue was up 33.7% on a year-over-year basis. Analysts expect that Marriott International, Inc. will post 8.39 earnings per share for the current fiscal year.

Marriott International Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Friday, May 26th will be given a $0.52 dividend. The ex-dividend date of this dividend is Thursday, May 25th. This is a positive change from Marriott International’s previous quarterly dividend of $0.40. This represents a $2.08 annualized dividend and a dividend yield of 1.16%. Marriott International’s payout ratio is currently 24.33%.

About Marriott International

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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.