Prime Capital Investment Advisors LLC raised its stake in Marriott International, Inc. (NASDAQ:MAR – Free Report) by 19.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,726 shares of the company’s stock after purchasing an additional 761 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Marriott International were worth $929,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. OFI Invest Asset Management acquired a new stake in Marriott International during the 3rd quarter worth approximately $25,000. Resurgent Financial Advisors LLC acquired a new stake in Marriott International during the 4th quarter worth approximately $25,000. ICA Group Wealth Management LLC acquired a new stake in Marriott International during the 4th quarter worth approximately $28,000. Coppell Advisory Solutions Corp. acquired a new stake in Marriott International during the 4th quarter worth approximately $28,000. Finally, E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of Marriott International during the 3rd quarter valued at $32,000. 58.79% of the stock is currently owned by institutional investors.
Marriott International Stock Performance
Shares of MAR stock opened at $248.84 on Tuesday. Marriott International, Inc. has a 52-week low of $153.56 and a 52-week high of $250.75. The firm has a market capitalization of $73.08 billion, a PE ratio of 26.36, a PEG ratio of 1.45 and a beta of 1.64. The stock has a fifty day simple moving average of $228.47 and a two-hundred day simple moving average of $209.72.
Marriott International Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Thursday, February 22nd will be paid a $0.52 dividend. The ex-dividend date of this dividend is Wednesday, February 21st. This represents a $2.08 dividend on an annualized basis and a yield of 0.84%. Marriott International’s payout ratio is presently 22.03%.
In other news, CAO Felitia Lee sold 570 shares of the firm’s stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $210.08, for a total transaction of $119,745.60. Following the completion of the transaction, the chief accounting officer now owns 2,793 shares in the company, valued at $586,753.44. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 12.32% of the company’s stock.
Analysts Set New Price Targets
Several analysts recently weighed in on the company. Morgan Stanley upped their price objective on Marriott International from $225.00 to $232.00 and gave the stock an “overweight” rating in a research report on Monday, October 16th. Barclays raised their target price on Marriott International from $208.00 to $234.00 and gave the stock an “equal weight” rating in a research note on Monday, January 29th. Wells Fargo & Company assumed coverage on Marriott International in a report on Tuesday, December 5th. They issued an “equal weight” rating and a $220.00 price target on the stock. Jefferies Financial Group raised their target price on Marriott International from $205.00 to $227.00 and gave the company a “hold” rating in a report on Tuesday, January 2nd. Finally, HSBC initiated coverage on Marriott International in a research report on Monday, October 23rd. They set a “buy” rating and a $233.00 price target for the company. Ten investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Marriott International presently has a consensus rating of “Hold” and a consensus price target of $219.60.
About Marriott International
Marriott International, Inc operates, franchises, and licenses hotel, residential, timeshare, and other lodging properties worldwide. The company operates through U.S. and Canada, and International 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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