Advisors Asset Management Inc. Lowers Holdings in Marriott International, Inc. (NASDAQ:MAR)

Advisors Asset Management Inc. decreased its stake in Marriott International, Inc. (NASDAQ:MAR) by 3.5% during the third quarter, Holdings Channel.com reports. The institutional investor owned 19,134 shares of the company’s stock after selling 697 shares during the quarter. Advisors Asset Management Inc.’s holdings in Marriott International were worth $4,757,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in MAR. Bangor Savings Bank increased its holdings in shares of Marriott International by 131.1% in the 2nd quarter. Bangor Savings Bank now owns 104 shares of the company’s stock worth $25,000 after buying an additional 59 shares during the last quarter. Hantz Financial Services Inc. bought a new position in shares of Marriott International during the 2nd quarter valued at $26,000. MFA Wealth Advisors LLC bought a new stake in Marriott International in the 2nd quarter worth $28,000. Silvant Capital Management LLC bought a new stake in Marriott International in the 3rd quarter worth $31,000. Finally, Unique Wealth Strategies LLC bought a new stake in Marriott International in the 2nd quarter worth $35,000. Institutional investors own 70.70% of the company’s stock.

Insider Transactions at Marriott International

In other Marriott International news, CEO Anthony Capuano sold 8,332 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $284.49, for a total transaction of $2,370,370.68. Following the completion of the sale, the chief executive officer now directly owns 108,361 shares of the company’s stock, valued at approximately $30,827,620.89. This represents a 7.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Benjamin T. Breland sold 500 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $274.49, for a total transaction of $137,245.00. Following the sale, the executive vice president now directly owns 12,286 shares of the company’s stock, valued at approximately $3,372,384.14. This represents a 3.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 12,108 shares of company stock worth $3,434,439. Corporate insiders own 12.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Macquarie reissued a “neutral” rating and issued a $245.00 price target on shares of Marriott International in a report on Tuesday, November 5th. Truist Financial dropped their target price 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. The Goldman Sachs Group started coverage on shares of Marriott International in a research report on Wednesday, September 18th. They issued a “buy” rating and a $267.00 target price for the company. UBS Group dropped their target price on shares of Marriott International from $267.00 to $244.00 and set a “neutral” rating for the company in a research report on Tuesday, August 13th. Finally, Bank of America raised their target price on shares of Marriott International from $275.00 to $300.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Thirteen investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $259.00.

Marriott International Stock Performance

Shares of NASDAQ MAR opened at $283.23 on Friday. The firm’s 50 day moving average price is $260.83 and its 200-day moving average price is $243.01. The company has a market cap of $78.71 billion, a PE ratio of 29.63, a P/E/G ratio of 5.49 and a beta of 1.58. Marriott International, Inc. has a 52-week low of $200.94 and a 52-week high of $289.04.

Marriott International (NASDAQ:MAR) last issued its earnings results on Monday, November 4th. The company reported $2.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.31 by ($0.05). The firm had revenue of $6.26 billion during the quarter, compared to the consensus estimate of $6.27 billion. Marriott International had a negative return on equity of 177.91% and a net margin of 11.18%. The company’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.11 EPS. On average, analysts forecast that Marriott International, Inc. will post 9.26 earnings per share for the current fiscal year.

Marriott International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Thursday, November 21st will be paid a $0.63 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $2.52 annualized dividend and a dividend yield of 0.89%. Marriott International’s dividend payout ratio is presently 26.36%.

About Marriott International

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.