Abner Herrman & Brock LLC Has $22.62 Million Position in Marriott International Inc (MAR)
Abner Herrman & Brock LLC cut its holdings in Marriott International Inc (NASDAQ:MAR) by 1.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 166,615 shares of the company’s stock after selling 2,009 shares during the period. Marriott International accounts for 3.8% of Abner Herrman & Brock LLC’s holdings, making the stock its 3rd biggest holding. Abner Herrman & Brock LLC’s holdings in Marriott International were worth $22,615,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Advisory Services Network LLC raised its holdings in shares of Marriott International by 1,490.1% during the 2nd quarter. Advisory Services Network LLC now owns 1,129 shares of the company’s stock worth $113,000 after acquiring an additional 1,058 shares in the last quarter. Grove Bank & Trust raised its holdings in shares of Marriott International by 214.8% during the 3rd quarter. Grove Bank & Trust now owns 1,231 shares of the company’s stock worth $136,000 after acquiring an additional 840 shares in the last quarter. First Quadrant L P CA purchased a new stake in shares of Marriott International during the 3rd quarter worth approximately $136,000. Carroll Financial Associates Inc. raised its holdings in shares of Marriott International by 175.6% during the 3rd quarter. Carroll Financial Associates Inc. now owns 1,323 shares of the company’s stock worth $147,000 after acquiring an additional 843 shares in the last quarter. Finally, Advisors Asset Management Inc. raised its holdings in shares of Marriott International by 66.2% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,481 shares of the company’s stock worth $163,000 after acquiring an additional 590 shares in the last quarter. 66.65% of the stock is currently owned by institutional investors.
In other news, insider Deborah Marriott Harrison sold 130,000 shares of the stock in a transaction on Friday, November 10th. The stock was sold at an average price of $119.17, for a total transaction of $15,492,100.00. Following the transaction, the insider now owns 114,155 shares of the company’s stock, valued at approximately $13,603,851.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Eric Hippeau sold 4,863 shares of the stock in a transaction on Monday, November 20th. The stock was sold at an average price of $125.98, for a total value of $612,640.74. Following the transaction, the director now directly owns 34,245 shares in the company, valued at approximately $4,314,185.10. The disclosure for this sale can be found here. Insiders sold a total of 221,825 shares of company stock worth $27,378,820 in the last ninety days. 11.32% of the stock is currently owned by corporate insiders.
Shares of Marriott International Inc (MAR) traded down $0.75 during trading on Friday, reaching $135.70. The company’s stock had a trading volume of 3,186,900 shares, compared to its average volume of 2,547,933. The company has a market cap of $49,370.00, a P/E ratio of 36.88, a PEG ratio of 3.02 and a beta of 1.35. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 1.83. Marriott International Inc has a 12 month low of $81.04 and a 12 month high of $137.60.
Marriott International (NASDAQ:MAR) last announced its quarterly earnings data on Tuesday, November 7th. The company reported $1.10 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.98 by $0.12. The company had revenue of $5.66 billion for the quarter, compared to the consensus estimate of $5.22 billion. Marriott International had a return on equity of 31.58% and a net margin of 6.30%. Marriott International’s quarterly revenue was up 43.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.91 EPS. equities analysts anticipate that Marriott International Inc will post 4.24 EPS for the current year.
Marriott International declared that its board has initiated a share repurchase program on Thursday, November 9th that permits the company to buyback 30,000,000 outstanding shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s management believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Wednesday, November 22nd were given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 0.97%. The ex-dividend date of this dividend was Tuesday, November 21st. Marriott International’s dividend payout ratio (DPR) is presently 35.87%.
MAR has been the topic of several recent research reports. Zacks Investment Research raised Marriott International from a “hold” rating to a “buy” rating and set a $130.00 price objective on the stock in a report on Thursday, October 26th. Royal Bank of Canada reaffirmed a “buy” rating on shares of Marriott International in a report on Tuesday, November 7th. Sanford C. Bernstein downgraded Marriott International from an “outperform” rating to a “market perform” rating in a research report on Thursday, November 16th. Morgan Stanley reissued a “buy” rating on shares of Marriott International in a research report on Friday, December 8th. Finally, BidaskClub downgraded Marriott International from a “strong-buy” rating to a “buy” rating in a research report on Thursday, October 5th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $111.62.
About Marriott International
Marriott International, Inc (Marriott International) is a lodging company. Marriott International operates in three business segments: North American Full-Service, North American Limited-Service and International. Its North American Full-Service segment includes its Luxury and Premium brands (JW Marriott, Marriott Hotels, Sheraton, Westin, Renaissance Hotels, Le Meridien, Autograph Collection Hotels, Delta Hotels, Gaylord Hotels, and Tribute Portfolio) located in the United States and Canada.
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