Summit Financial LLC Increases Stock Holdings in Marriott International, Inc. (NASDAQ:MAR)

Summit Financial LLC increased its holdings in shares of Marriott International, Inc. (NASDAQ:MAR) by 2.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 9,981 shares of the company’s stock after acquiring an additional 231 shares during the period. Summit Financial LLC’s holdings in Marriott International were worth $2,251,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. OFI Invest Asset Management bought a new position in shares of Marriott International in the 3rd quarter worth $25,000. ORG Partners LLC boosted its stake in shares of Marriott International by 72.6% in the fourth quarter. ORG Partners LLC now owns 126 shares of the company’s stock worth $29,000 after buying an additional 53 shares during the last quarter. Keener Financial Planning LLC acquired a new position in Marriott International in the 4th quarter worth about $30,000. Anchor Investment Management LLC acquired a new position in shares of Marriott International during the fourth quarter valued at approximately $31,000. Finally, Wetzel Investment Advisors Inc. acquired a new position in shares of Marriott International during the fourth quarter valued at approximately $33,000. 70.70% of the stock is owned by institutional investors.

Marriott International Trading Up 0.2 %

NASDAQ:MAR traded up $0.55 on Thursday, reaching $234.41. The stock had a trading volume of 46,268 shares, compared to its average volume of 1,439,179. The company has a 50-day moving average of $248.01 and a 200 day moving average of $228.08. The stock has a market cap of $67.74 billion, a P/E ratio of 23.28, a price-to-earnings-growth ratio of 5.27 and a beta of 1.61. Marriott International, Inc. has a 12-month low of $165.13 and a 12-month high of $260.57.

Marriott International (NASDAQ:MAR) last posted its quarterly earnings data on Tuesday, February 13th. The company reported $3.57 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $1.45. The company had revenue of $6.10 billion during the quarter, compared to analysts’ expectations of $6.20 billion. Marriott International had a net margin of 13.00% and a negative return on equity of 848.49%. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.96 EPS. On average, equities analysts predict that Marriott International, Inc. will post 9.46 EPS for the current year.

Marriott International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, February 22nd were paid a $0.52 dividend. The ex-dividend date of this dividend was Wednesday, February 21st. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.89%. Marriott International’s dividend payout ratio (DPR) is presently 20.41%.

Wall Street Analysts Forecast Growth

MAR has been the subject of several analyst reports. Mizuho increased their price objective on Marriott International from $260.00 to $265.00 and gave the stock a “neutral” rating in a research report on Thursday. Truist Financial increased their price objective on Marriott International from $233.00 to $263.00 and gave the company a “hold” rating in a research note on Wednesday, February 14th. Wells Fargo & Company raised their price target on Marriott International from $234.00 to $250.00 and gave the company an “equal weight” rating in a research note on Monday, March 18th. UBS Group lifted their target price on Marriott International from $210.00 to $259.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 28th. Finally, Robert W. Baird raised their price target on Marriott International from $248.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday. Eleven research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $237.13.

Insider Buying and Selling

In other Marriott International news, CFO Kathleen K. Oberg sold 47,109 shares of the company’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $242.71, for a total value of $11,433,825.39. Following the completion of the transaction, the chief financial officer now owns 20,036 shares in the company, valued at approximately $4,862,937.56. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO Anthony Capuano sold 20,000 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $248.48, for a total value of $4,969,600.00. Following the completion of the transaction, the chief executive officer now directly owns 93,323 shares in the company, valued at $23,188,899.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Kathleen K. Oberg sold 47,109 shares of the stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $242.71, for a total transaction of $11,433,825.39. Following the completion of the transaction, the chief financial officer now owns 20,036 shares of the company’s stock, valued at $4,862,937.56. The disclosure for this sale can be found here. Insiders have sold a total of 125,003 shares of company stock worth $30,435,493 over the last quarter. 12.32% of the stock is owned by company insiders.

Marriott International Company 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, and City Express by Marriott brand names, as well as operates residences, timeshares, and yachts.