Highland Private Wealth Management acquired a new position in shares of Marriott International Inc (NASDAQ:MAR) during the first quarter, HoldingsChannel reports. The institutional investor acquired 1,878 shares of the company’s stock, valued at approximately $235,000.
Other hedge funds have also made changes to their positions in the company. Zeke Capital Advisors LLC grew its holdings in Marriott International by 1.4% in the first quarter. Zeke Capital Advisors LLC now owns 5,291 shares of the company’s stock valued at $662,000 after purchasing an additional 75 shares during the last quarter. Wedbush Securities Inc. grew its holdings in Marriott International by 5.1% in the fourth quarter. Wedbush Securities Inc. now owns 2,048 shares of the company’s stock valued at $222,000 after purchasing an additional 100 shares during the last quarter. Duncker Streett & Co. Inc. grew its holdings in Marriott International by 2.3% in the first quarter. Duncker Streett & Co. Inc. now owns 4,498 shares of the company’s stock valued at $563,000 after purchasing an additional 100 shares during the last quarter. Signature Wealth Management Group grew its holdings in Marriott International by 2.3% in the fourth quarter. Signature Wealth Management Group now owns 4,529 shares of the company’s stock valued at $492,000 after purchasing an additional 101 shares during the last quarter. Finally, First Manhattan Co. boosted its stake in shares of Marriott International by 21.8% during the first quarter. First Manhattan Co. now owns 570 shares of the company’s stock valued at $71,000 after acquiring an additional 102 shares during the last quarter. 67.38% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts recently commented on the company. Wells Fargo & Co increased their price objective on Marriott International from $123.00 to $141.00 and gave the company a “market perform” rating in a research note on Wednesday, April 24th. Morgan Stanley set a $117.00 price objective on Marriott International and gave the company a “hold” rating in a research note on Thursday, March 28th. Zacks Investment Research raised Marriott International from a “sell” rating to a “hold” rating in a research note on Wednesday, March 6th. BidaskClub lowered Marriott International from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 1st. Finally, Cowen reaffirmed a “buy” rating and set a $150.00 price objective on shares of Marriott International in a research note on Tuesday, February 26th. Ten analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Marriott International has an average rating of “Hold” and a consensus target price of $136.29.
Marriott International (NASDAQ:MAR) last released its earnings results on Friday, May 10th. The company reported $1.41 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.34 by $0.07. Marriott International had a return on equity of 80.36% and a net margin of 8.74%. The firm had revenue of $5.01 billion for the quarter, compared to the consensus estimate of $5.16 billion. During the same period in the prior year, the business posted $1.34 earnings per share. The firm’s revenue for the quarter was up .1% compared to the same quarter last year. On average, equities analysts anticipate that Marriott International Inc will post 6.05 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, May 24th will be given a dividend of $0.48 per share. The ex-dividend date is Thursday, May 23rd. This is an increase from Marriott International’s previous quarterly dividend of $0.41. This represents a $1.92 annualized dividend and a yield of 1.51%. Marriott International’s dividend payout ratio is 26.41%.
In other news, EVP Anthony Capuano sold 44,594 shares of the firm’s stock in a transaction dated Friday, March 29th. The stock was sold at an average price of $125.13, for a total value of $5,580,047.22. Following the transaction, the executive vice president now directly owns 62,192 shares in the company, valued at approximately $7,782,084.96. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Arne M. Sorenson sold 63,726 shares of the firm’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $124.15, for a total value of $7,911,582.90. Following the completion of the transaction, the chief executive officer now owns 750,500 shares in the company, valued at $93,174,575. The disclosure for this sale can be found here. Insiders have sold 136,730 shares of company stock worth $16,924,619 over the last quarter. 12.60% of the stock is currently owned by company insiders.
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Marriott International Profile
Marriott International, Inc operates, franchises, and licenses hotel, residential, and timeshare properties worldwide. The company operates through North American Full-Service, North American Limited-Service, and Asia Pacific segments. It operates its properties under the JW Marriott, The Ritz-Carlton, Ritz-Carlton Reserve, W Hotels, The Luxury Collection, St.
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