Raab & Moskowitz Asset Management LLC trimmed its holdings in shares of Marriott International, Inc. (NASDAQ:MAR – Free Report) by 17.2% in the third quarter, Holdings Channel.com reports. The fund owned 9,275 shares of the company’s stock after selling 1,932 shares during the quarter. Raab & Moskowitz Asset Management LLC’s holdings in Marriott International were worth $2,416,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Triumph Capital Management bought a new position in Marriott International during the third quarter worth about $28,000. Darwin Wealth Management LLC bought a new stake in shares of Marriott International in the 2nd quarter valued at approximately $37,000. Root Financial Partners LLC acquired a new position in shares of Marriott International in the 3rd quarter worth approximately $41,000. Smallwood Wealth Investment Management LLC lifted its position in shares of Marriott International by 312.5% during the 3rd quarter. Smallwood Wealth Investment Management LLC now owns 165 shares of the company’s stock worth $43,000 after buying an additional 125 shares during the period. Finally, ORG Wealth Partners LLC acquired a new stake in Marriott International in the 3rd quarter valued at $44,000. Institutional investors own 70.70% of the company’s stock.
Marriott International Stock Performance
Shares of NASDAQ:MAR opened at $327.28 on Wednesday. The business has a fifty day moving average of $331.25 and a 200-day moving average of $299.65. Marriott International, Inc. has a twelve month low of $205.40 and a twelve month high of $370.00. The firm has a market cap of $86.72 billion, a PE ratio of 34.49, a price-to-earnings-growth ratio of 2.84 and a beta of 1.09.
Marriott International Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Thursday, February 26th will be paid a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Thursday, February 26th. Marriott International’s dividend payout ratio is 28.24%.
Insiders Place Their Bets
In other news, EVP Drew Pinto sold 4,000 shares of Marriott International stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $359.81, for a total value of $1,439,240.00. Following the completion of the sale, the executive vice president directly owned 8,221 shares of the company’s stock, valued at approximately $2,957,998.01. This trade represents a 32.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Benjamin T. Breland sold 2,000 shares of the company’s stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $358.03, for a total value of $716,060.00. Following the transaction, the executive vice president directly owned 26,399 shares in the company, valued at $9,451,633.97. This trade represents a 7.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 95,540 shares of company stock valued at $34,274,055 over the last quarter. Company insiders own 10.68% of the company’s stock.
Analyst Upgrades and Downgrades
Several research firms have issued reports on MAR. Citigroup increased their price objective on Marriott International from $285.00 to $345.00 and gave the stock a “neutral” rating in a research note on Thursday, January 15th. Sanford C. Bernstein upped their target price on shares of Marriott International from $329.00 to $369.00 and gave the stock an “outperform” rating in a report on Tuesday, January 6th. BMO Capital Markets raised shares of Marriott International from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $285.00 to $370.00 in a report on Friday, January 9th. Truist Financial boosted their price target on shares of Marriott International from $283.00 to $350.00 and gave the company a “hold” rating in a research report on Wednesday, February 11th. Finally, Evercore raised their price objective on shares of Marriott International from $320.00 to $350.00 and gave the stock an “outperform” rating in a report on Thursday, January 22nd. Two analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $343.47.
Read Our Latest Research Report on MAR
Marriott International Company Profile
Marriott International is a global lodging company that develops, manages and franchises a broad portfolio of hotels and related lodging facilities. Its core activities include hotel and resort management, franchise operations, property development and the provision of centralized services such as reservations, marketing and loyalty program management. The company’s brand architecture spans market segments from luxury and premium to select-service and extended-stay, enabling it to serve a wide range of business and leisure travelers as well as corporate and group customers.
The company traces its roots to the hospitality business founded by J.
See Also
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