Precision Wealth Strategies LLC lifted its position in shares of Marriott International, Inc. (NASDAQ:MAR – Free Report) by 29.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 26,353 shares of the company’s stock after buying an additional 5,932 shares during the period. Marriott International makes up about 2.9% of Precision Wealth Strategies LLC’s holdings, making the stock its 6th biggest holding. Precision Wealth Strategies LLC’s holdings in Marriott International were worth $8,619,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its stake in Marriott International by 2.5% during the fourth quarter. Brighton Jones LLC now owns 8,887 shares of the company’s stock worth $2,479,000 after acquiring an additional 218 shares during the last quarter. Empowered Funds LLC lifted its stake in shares of Marriott International by 39.1% in the 1st quarter. Empowered Funds LLC now owns 5,805 shares of the company’s stock valued at $1,383,000 after purchasing an additional 1,631 shares in the last quarter. Woodline Partners LP grew its holdings in shares of Marriott International by 39.6% during the 1st quarter. Woodline Partners LP now owns 19,332 shares of the company’s stock worth $4,605,000 after purchasing an additional 5,480 shares during the period. Intech Investment Management LLC increased its position in Marriott International by 21.8% during the 1st quarter. Intech Investment Management LLC now owns 6,035 shares of the company’s stock worth $1,438,000 after purchasing an additional 1,079 shares in the last quarter. Finally, Sei Investments Co. raised its holdings in Marriott International by 3.8% in the second quarter. Sei Investments Co. now owns 137,329 shares of the company’s stock valued at $37,520,000 after buying an additional 5,007 shares during the period. Institutional investors and hedge funds own 70.70% of the company’s stock.
Marriott International Trading Down 1.3%
Shares of MAR stock opened at $366.24 on Friday. The firm has a fifty day simple moving average of $376.48 and a 200-day simple moving average of $350.20. The company has a market capitalization of $96.57 billion, a PE ratio of 38.43, a price-to-earnings-growth ratio of 2.91 and a beta of 1.11. Marriott International, Inc. has a twelve month low of $253.76 and a twelve month high of $410.98.
Marriott International Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Friday, May 22nd were issued a $0.73 dividend. This is an increase from Marriott International’s previous quarterly dividend of $0.67. This represents a $2.92 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Friday, May 22nd. Marriott International’s dividend payout ratio (DPR) is currently 30.64%.
Wall Street Analyst Weigh In
Several research firms have issued reports on MAR. Stifel Nicolaus boosted their price objective on shares of Marriott International from $352.00 to $365.00 and gave the stock a “hold” rating in a research note on Friday. Barclays lifted their target price on shares of Marriott International from $372.00 to $376.00 and gave the company an “equal weight” rating in a report on Thursday, May 7th. Robert W. Baird lowered their price target on Marriott International from $388.00 to $386.00 and set a “neutral” rating for the company in a report on Thursday, May 7th. UBS Group raised their price objective on Marriott International from $336.00 to $412.00 and gave the company a “neutral” rating in a research report on Monday, June 15th. Finally, Susquehanna upped their target price on Marriott International from $280.00 to $385.00 and gave the stock a “neutral” rating in a research report on Thursday, April 23rd. Eight equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Marriott International presently has an average rating of “Hold” and an average price target of $385.38.
Insiders Place Their Bets
In other Marriott International news, EVP Peggy Roe sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $361.56, for a total transaction of $1,084,680.00. Following the completion of the sale, the executive vice president owned 19,827 shares in the company, valued at $7,168,650.12. This trade represents a 13.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 11.43% of the stock is currently owned by company insiders.
About Marriott International
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.
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