Charter Trust Co. increased its position in Marriott International Inc (NASDAQ:MAR) by 23.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,746 shares of the company’s stock after acquiring an additional 521 shares during the period. Charter Trust Co.’s holdings in Marriott International were worth $343,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the business. Strategy Asset Managers LLC acquired a new position in shares of Marriott International in the first quarter worth about $29,000. Harvest Group Wealth Management LLC acquired a new stake in shares of Marriott International during the first quarter worth approximately $30,000. Alpha Omega Wealth Management LLC acquired a new stake in shares of Marriott International during the first quarter worth approximately $32,000. Proficio Capital Partners LLC boosted its holdings in shares of Marriott International by 93.7% during the fourth quarter. Proficio Capital Partners LLC now owns 308 shares of the company’s stock worth $33,000 after purchasing an additional 149 shares during the period. Finally, Lindbrook Capital LLC acquired a new stake in shares of Marriott International during the fourth quarter worth approximately $42,000. 62.79% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts recently commented on MAR shares. Berenberg Bank reaffirmed a “buy” rating and set a $140.00 price objective on shares of Marriott International in a research report on Tuesday, March 5th. BidaskClub lowered shares of Marriott International from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 1st. Barclays lifted their price target on shares of Marriott International to $135.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 5th. They noted that the move was a valuation call. Deutsche Bank reissued a “hold” rating and issued a $123.00 price target on shares of Marriott International in a research report on Monday, March 4th. Finally, Morgan Stanley set a $117.00 price target on shares of Marriott International and gave the company a “hold” rating in a research report on Thursday, March 28th. Twelve research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $132.92.
Marriott International (NASDAQ:MAR) last released its quarterly earnings results on Friday, May 10th. The company reported $1.41 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.34 by $0.07. The business had revenue of $5.01 billion during the quarter, compared to analysts’ expectations of $5.16 billion. Marriott International had a return on equity of 97.68% and a net margin of 8.62%. The firm’s revenue for the quarter was up .1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.34 earnings per share. Sell-side analysts anticipate that Marriott International Inc will post 6.1 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, May 24th will be paid a $0.48 dividend. The ex-dividend date is Thursday, May 23rd. This is a boost from Marriott International’s previous quarterly dividend of $0.41. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.37%. Marriott International’s dividend payout ratio is 30.92%.
In other Marriott International news, insider Argiris Kyriakidis sold 20,210 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $128.79, for a total transaction of $2,602,845.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider David Grissen sold 13,662 shares of the company’s stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $135.80, for a total value of $1,855,299.60. Following the transaction, the insider now directly owns 70,392 shares of the company’s stock, valued at approximately $9,559,233.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 72,040 shares of company stock valued at $9,563,719. 12.60% of the stock is currently owned by company insiders.
About Marriott International
Marriott International, Inc operates, franchises, and licenses hotel, residential, and timeshare properties worldwide. The company operates through North American Full-Service, North American Limited-Service, and Asia Pacific segments. It operates its properties under the JW Marriott, The Ritz-Carlton, Ritz-Carlton Reserve, W Hotels, The Luxury Collection, St.
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