abrdn plc Boosts Position in Marriott International, Inc. (NASDAQ:MAR)

abrdn plc lifted its stake in shares of Marriott International, Inc. (NASDAQ:MAR) by 64.3% during the 4th quarter, Holdings Channel reports. The fund owned 102,617 shares of the company’s stock after buying an additional 40,142 shares during the quarter. abrdn plc’s holdings in Marriott International were worth $23,141,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. OFI Invest Asset Management acquired a new stake in shares of Marriott International during the 3rd quarter worth about $25,000. ORG Partners LLC increased its position in shares of Marriott International by 72.6% during the 4th quarter. ORG Partners LLC now owns 126 shares of the company’s stock worth $29,000 after purchasing an additional 53 shares during the last quarter. Keener Financial Planning LLC acquired a new stake in shares of Marriott International during the 4th quarter worth about $30,000. Anchor Investment Management LLC acquired a new stake in shares of Marriott International during the 4th quarter worth about $31,000. Finally, Wetzel Investment Advisors Inc. acquired a new stake in shares of Marriott International during the 4th quarter worth about $33,000. Hedge funds and other institutional investors own 70.70% of the company’s stock.

Marriott International Stock Up 1.0 %

MAR stock opened at $239.69 on Wednesday. The business has a 50 day moving average price of $248.18 and a 200 day moving average price of $226.48. The stock has a market cap of $69.26 billion, a price-to-earnings ratio of 23.52, a PEG ratio of 1.73 and a beta of 1.62. Marriott International, Inc. has a fifty-two week low of $162.77 and a fifty-two week high of $260.57.

Marriott International (NASDAQ:MAR) last issued its quarterly earnings data on Tuesday, February 13th. The company reported $3.57 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $1.45. Marriott International had a negative return on equity of 848.49% and a net margin of 13.00%. The company had revenue of $6.10 billion during the quarter, compared to analysts’ expectations of $6.20 billion. During the same quarter in the previous year, the business earned $1.96 earnings per share. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Marriott International, Inc. will post 9.46 EPS for the current year.

Marriott International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, February 22nd were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date of this dividend was Wednesday, February 21st. Marriott International’s dividend payout ratio is currently 20.41%.

Analysts Set New Price Targets

A number of analysts recently issued reports on MAR shares. Mizuho cut their price objective on Marriott International from $263.00 to $260.00 and set a “neutral” rating for the company in a research report on Tuesday. UBS Group lifted their target price on Marriott International from $210.00 to $259.00 and gave the company a “neutral” rating in a research report on Wednesday, February 28th. BMO Capital Markets lifted their target price on Marriott International from $230.00 to $235.00 and gave the company a “market perform” rating in a research report on Wednesday, February 14th. Robert W. Baird dropped their target price on Marriott International from $250.00 to $248.00 and set a “neutral” rating for the company in a research report on Wednesday, February 14th. Finally, Jefferies Financial Group lifted their target price on Marriott International from $205.00 to $227.00 and gave the company a “hold” rating in a research report on Tuesday, January 2nd. Eleven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Marriott International presently has a consensus rating of “Hold” and a consensus price target of $236.69.

Insider Buying and Selling at Marriott International

In other news, Director Eric Hippeau sold 1,400 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $251.19, for a total value of $351,666.00. Following the transaction, the director now owns 72 shares of the company’s stock, valued at $18,085.68. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, Director Eric Hippeau sold 1,400 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $251.19, for a total value of $351,666.00. Following the transaction, the director now owns 72 shares of the company’s stock, valued at $18,085.68. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Deborah Marriott Harrison sold 37,300 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $241.46, for a total value of $9,006,458.00. Following the completion of the transaction, the insider now directly owns 9,100 shares in the company, valued at approximately $2,197,286. The disclosure for this sale can be found here. Over the last quarter, insiders sold 125,003 shares of company stock worth $30,435,493. 10.07% of the stock is owned by insiders.

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.