Connectus Wealth LLC Grows Stake in Marriott International, Inc. (NASDAQ:MAR)

Connectus Wealth LLC grew its stake in Marriott International, Inc. (NASDAQ:MAR) by 4.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,163 shares of the company’s stock after purchasing an additional 1,002 shares during the period. Connectus Wealth LLC’s holdings in Marriott International were worth $5,011,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of MAR. FMR LLC lifted its stake in shares of Marriott International by 16.1% during the 3rd quarter. FMR LLC now owns 8,634,610 shares of the company’s stock worth $1,697,219,000 after acquiring an additional 1,194,665 shares during the last quarter. Morgan Stanley boosted its stake in shares of Marriott International by 1.4% during the third quarter. Morgan Stanley now owns 4,711,029 shares of the company’s stock valued at $926,000,000 after purchasing an additional 63,411 shares during the period. Jennison Associates LLC increased its stake in Marriott International by 34.8% in the 4th quarter. Jennison Associates LLC now owns 4,547,098 shares of the company’s stock worth $1,025,416,000 after buying an additional 1,173,028 shares during the period. Capital International Investors lifted its holdings in Marriott International by 42.2% during the 4th quarter. Capital International Investors now owns 3,147,501 shares of the company’s stock valued at $709,793,000 after buying an additional 934,304 shares in the last quarter. Finally, Invesco Ltd. grew its stake in Marriott International by 1.8% in the 3rd quarter. Invesco Ltd. now owns 2,734,680 shares of the company’s stock worth $537,529,000 after acquiring an additional 48,872 shares in the last quarter. Hedge funds and other institutional investors own 70.70% of the company’s stock.

Analyst Upgrades and Downgrades

MAR has been the topic of several research reports. Robert W. Baird raised their price objective on Marriott International from $248.00 to $250.00 and gave the stock a “neutral” rating in a report on Thursday, May 2nd. Truist Financial lifted their price objective on Marriott International from $233.00 to $263.00 and gave the company a “hold” rating in a report on Wednesday, February 14th. UBS Group raised their target price on shares of Marriott International from $210.00 to $259.00 and gave the company a “neutral” rating in a research report on Wednesday, February 28th. Barclays upped their price target on shares of Marriott International from $239.00 to $240.00 and gave the stock an “equal weight” rating in a research report on Friday, April 19th. Finally, Mizuho lifted their price objective on shares of Marriott International from $260.00 to $265.00 and gave the company a “neutral” rating in a report on Thursday, May 2nd. Eleven analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Marriott International has an average rating of “Hold” and a consensus target price of $241.33.

Marriott International Trading Down 0.4 %

Shares of MAR stock traded down $0.93 during trading hours on Friday, reaching $231.10. 2,723,430 shares of the company’s stock were exchanged, compared to its average volume of 1,178,131. Marriott International, Inc. has a 1 year low of $170.03 and a 1 year high of $260.57. The stock has a market cap of $66.01 billion, a PE ratio of 23.85, a PEG ratio of 4.36 and a beta of 1.60. The stock’s fifty day moving average price is $239.70 and its two-hundred day moving average price is $235.73.

Marriott International (NASDAQ:MAR) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $2.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.04). Marriott International had a net margin of 12.00% and a negative return on equity of 376.88%. The company had revenue of $5.98 billion for the quarter, compared to analyst estimates of $5.95 billion. During the same quarter in the previous year, the company posted $2.09 EPS. The company’s revenue for the quarter was up 6.4% compared to the same quarter last year. On average, equities analysts expect that Marriott International, Inc. will post 9.53 EPS for the current fiscal year.

Marriott International Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, May 24th will be paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 1.09%. The ex-dividend date of this dividend is Thursday, May 23rd. This is an increase from Marriott International’s previous quarterly dividend of $0.52. Marriott International’s payout ratio is presently 26.01%.

Insider Transactions at Marriott International

In other Marriott International news, Director Eric Hippeau sold 1,400 shares of Marriott International stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $251.19, for a total transaction of $351,666.00. Following the completion of the sale, the director now directly owns 72 shares in the company, valued at approximately $18,085.68. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 12.32% of the company’s stock.

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