Independent Advisor Alliance Trims Stock Position in Marriott International, Inc. (NASDAQ:MAR)

Independent Advisor Alliance decreased its position in Marriott International, Inc. (NASDAQ:MAR) by 6.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,717 shares of the company’s stock after selling 482 shares during the period. Independent Advisor Alliance’s holdings in Marriott International were worth $1,670,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Harvest Fund Management Co. Ltd increased its position in shares of Marriott International by 21.5% during the third quarter. Harvest Fund Management Co. Ltd now owns 12,980 shares of the company’s stock valued at $3,226,000 after acquiring an additional 2,294 shares during the last quarter. Daiwa Securities Group Inc. boosted its position in shares of Marriott International by 9.6% during the 3rd quarter. Daiwa Securities Group Inc. now owns 47,238 shares of the company’s stock worth $11,743,000 after purchasing an additional 4,135 shares during the period. Summit Trail Advisors LLC raised its position in Marriott International by 2.1% in the third quarter. Summit Trail Advisors LLC now owns 4,730 shares of the company’s stock valued at $1,176,000 after purchasing an additional 98 shares during the period. Larson Financial Group LLC lifted its stake in Marriott International by 10.8% during the third quarter. Larson Financial Group LLC now owns 379 shares of the company’s stock worth $94,000 after purchasing an additional 37 shares in the last quarter. Finally, Baltimore Washington Financial Advisors Inc. boosted its position in shares of Marriott International by 1.8% during the third quarter. Baltimore Washington Financial Advisors Inc. now owns 76,875 shares of the company’s stock worth $19,111,000 after buying an additional 1,394 shares during the period. Hedge funds and other institutional investors own 70.70% of the company’s stock.

Marriott International Price Performance

NASDAQ MAR opened at $288.18 on Wednesday. Marriott International, Inc. has a 12 month low of $200.94 and a 12 month high of $289.80. The company has a market capitalization of $80.08 billion, a price-to-earnings ratio of 30.14, a price-to-earnings-growth ratio of 5.59 and a beta of 1.58. The firm’s fifty day moving average price is $264.04 and its 200 day moving average price is $244.14.

Marriott International (NASDAQ:MAR) last posted its earnings results on Monday, November 4th. The company reported $2.26 EPS for the quarter, missing analysts’ consensus estimates of $2.31 by ($0.05). The firm had revenue of $6.26 billion for the quarter, compared to analyst estimates of $6.27 billion. Marriott International had a negative return on equity of 177.91% and a net margin of 11.18%. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter last year, the firm posted $2.11 EPS. As a group, sell-side analysts forecast that Marriott International, Inc. will post 9.26 earnings per share for the current year.

Marriott International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Thursday, November 21st will be issued a $0.63 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $2.52 dividend on an annualized basis and a dividend yield of 0.87%. Marriott International’s payout ratio is 26.36%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on MAR shares. The Goldman Sachs Group assumed coverage on Marriott International in a research note on Wednesday, September 18th. They set a “buy” rating and a $267.00 target price on the stock. Bank of America raised their price objective on shares of Marriott International from $275.00 to $300.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Truist Financial cut their target price on shares of Marriott International from $263.00 to $254.00 and set a “hold” rating on the stock in a research note on Tuesday, August 6th. Wells Fargo & Company boosted their price target on shares of Marriott International from $238.00 to $261.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 22nd. Finally, Evercore ISI increased their price objective on Marriott International from $245.00 to $270.00 and gave the company an “in-line” rating in a research note on Monday, October 21st. Fourteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $260.20.

Insider Buying and Selling

In related news, insider William P. Brown sold 1,707 shares of Marriott International stock in a transaction on Friday, November 22nd. The shares were sold at an average price of $284.30, for a total value of $485,300.10. Following the transaction, the insider now directly owns 23,077 shares in the company, valued at $6,560,791.10. This trade represents a 6.89 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Anthony Capuano sold 8,332 shares of the company’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $284.49, for a total transaction of $2,370,370.68. Following the transaction, the chief executive officer now owns 108,361 shares of the company’s stock, valued at approximately $30,827,620.89. The trade was a 7.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 13,815 shares of company stock worth $3,919,739 in the last 90 days. Company insiders own 10.07% of the company’s stock.

Marriott International Profile

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, City Express by Marriott, and St.