Marriott International, Inc. (NASDAQ:MAR) Shares Bought by Connecticut Wealth Management LLC

Connecticut Wealth Management LLC lifted its stake in shares of Marriott International, Inc. (NASDAQ:MAR) by 114.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,624 shares of the company’s stock after purchasing an additional 3,529 shares during the period. Connecticut Wealth Management LLC’s holdings in Marriott International were worth $1,494,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of MAR. Parnassus Investments LLC acquired a new stake in shares of Marriott International in the third quarter worth $481,621,000. FMR LLC increased its holdings in shares of Marriott International by 16.1% in the 3rd quarter. FMR LLC now owns 8,634,610 shares of the company’s stock valued at $1,697,219,000 after purchasing an additional 1,194,665 shares during the period. Jennison Associates LLC lifted its position in shares of Marriott International by 34.8% in the fourth quarter. Jennison Associates LLC now owns 4,547,098 shares of the company’s stock worth $1,025,416,000 after purchasing an additional 1,173,028 shares in the last quarter. International Assets Investment Management LLC increased its stake in Marriott International by 1,487.6% in the 4th quarter. International Assets Investment Management LLC now owns 345,246 shares of the company’s stock valued at $77,856,000 after buying an additional 323,500 shares during the period. Finally, Financial Gravity Asset Management Inc. lifted its position in Marriott International by 2,023.9% in the 3rd quarter. Financial Gravity Asset Management Inc. now owns 135,673 shares of the company’s stock worth $26,668,000 after buying an additional 129,285 shares in the last quarter. 70.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MAR has been the subject of a number of research analyst reports. Robert W. Baird increased their target price on shares of Marriott International from $248.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday. Truist Financial increased their target price on shares of Marriott International from $233.00 to $263.00 and gave the stock a “hold” rating in a research report on Wednesday, February 14th. Mizuho increased their target price on shares of Marriott International from $260.00 to $265.00 and gave the stock a “neutral” rating in a research report on Thursday. UBS Group increased their price target on shares of Marriott International from $210.00 to $259.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 28th. Finally, BMO Capital Markets increased their price target on shares of Marriott International from $235.00 to $240.00 and gave the stock a “market perform” rating in a research note on Thursday. Eleven analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $241.33.

Insiders Place Their Bets

In other news, insider Satyajit Anand sold 2,749 shares of the firm’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $251.93, for a total transaction of $692,555.57. Following the completion of the transaction, the insider now directly owns 24,478 shares of the company’s stock, valued at approximately $6,166,742.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Marriott International news, insider Satyajit Anand sold 2,749 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $251.93, for a total transaction of $692,555.57. Following the completion of the transaction, the insider now directly owns 24,478 shares in the company, valued at $6,166,742.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Rena Hozore Reiss sold 3,563 shares of the stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $240.39, for a total transaction of $856,509.57. Following the sale, the executive vice president now owns 36,778 shares of the company’s stock, valued at approximately $8,841,063.42. The disclosure for this sale can be found here. Insiders have sold 125,003 shares of company stock worth $30,435,493 in the last ninety days. Insiders own 12.32% of the company’s stock.

Marriott International Price Performance

NASDAQ:MAR traded down $0.97 during midday trading on Friday, reaching $234.59. The stock had a trading volume of 1,572,856 shares, compared to its average volume of 1,539,790. Marriott International, Inc. has a 1-year low of $165.13 and a 1-year high of $260.57. The firm’s fifty day simple moving average is $247.40 and its 200-day simple moving average is $228.85. The stock has a market capitalization of $67.00 billion, a P/E ratio of 24.21, a PEG ratio of 5.21 and a beta of 1.61.

Marriott International (NASDAQ:MAR) last posted its quarterly earnings results on Wednesday, May 1st. The company reported $2.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.17 by ($0.04). The company had revenue of $5.98 billion during the quarter, compared to analyst estimates of $5.95 billion. Marriott International had a negative return on equity of 376.88% and a net margin of 12.00%. The business’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.09 earnings per share. On average, equities research analysts anticipate that Marriott International, Inc. will post 9.5 earnings per share for the current fiscal year.

Marriott International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, February 22nd were given a $0.52 dividend. The ex-dividend date of this dividend was Wednesday, February 21st. This represents a $2.08 annualized dividend and a yield of 0.89%. Marriott International’s dividend payout ratio is 21.47%.

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.