Sound Income Strategies LLC Increases Stock Holdings in Marriott International, Inc. (NASDAQ:MAR)

Sound Income Strategies LLC increased its holdings in Marriott International, Inc. (NASDAQ:MAR) by 494.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 107 shares of the company’s stock after acquiring an additional 89 shares during the quarter. Sound Income Strategies LLC’s holdings in Marriott International were worth $30,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MAR. Public Sector Pension Investment Board lifted its position in Marriott International by 63.7% during the second quarter. Public Sector Pension Investment Board now owns 8,444 shares of the company’s stock valued at $2,042,000 after buying an additional 3,287 shares during the period. AQR Capital Management LLC lifted its position in Marriott International by 59.9% during the second quarter. AQR Capital Management LLC now owns 123,973 shares of the company’s stock valued at $29,973,000 after buying an additional 46,420 shares during the period. Susquehanna Fundamental Investments LLC purchased a new position in Marriott International during the second quarter valued at $3,844,000. Waterfall Asset Management LLC purchased a new position in Marriott International during the second quarter valued at $2,853,000. Finally, Creative Planning lifted its position in Marriott International by 19.0% during the second quarter. Creative Planning now owns 93,482 shares of the company’s stock valued at $22,601,000 after buying an additional 14,897 shares during the period. Hedge funds and other institutional investors own 70.70% of the company’s stock.

Marriott International Stock Down 0.3 %

NASDAQ MAR opened at $284.11 on Monday. Marriott International, Inc. has a 52 week low of $204.55 and a 52 week high of $295.45. The firm has a market capitalization of $78.95 billion, a P/E ratio of 29.72, a PEG ratio of 4.64 and a beta of 1.57. The company has a 50-day moving average price of $282.24 and a 200-day moving average price of $257.46.

Marriott International (NASDAQ:MAR) last announced its quarterly earnings data on Monday, November 4th. The company reported $2.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.31 by ($0.05). The company had revenue of $6.26 billion for the quarter, compared to the consensus estimate of $6.27 billion. Marriott International had a net margin of 11.18% and a negative return on equity of 177.91%. The company’s revenue was up 5.5% compared to the same quarter last year. During the same quarter last year, the firm posted $2.11 earnings per share. As a group, equities research analysts anticipate that Marriott International, Inc. will post 9.25 EPS for the current year.

Marriott International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Thursday, November 21st were paid a dividend of $0.63 per share. The ex-dividend date was Thursday, November 21st. This represents a $2.52 dividend on an annualized basis and a dividend yield of 0.89%. Marriott International’s dividend payout ratio (DPR) is presently 26.36%.

Analyst Ratings Changes

Several brokerages have recently weighed in on MAR. Stifel Nicolaus raised their price target on Marriott International from $252.00 to $283.00 and gave the company a “hold” rating in a report on Tuesday, November 26th. Truist Financial raised their price target on Marriott International from $254.00 to $277.00 and gave the company a “hold” rating in a report on Wednesday, December 4th. Jefferies Financial Group raised their price target on Marriott International from $251.00 to $295.00 and gave the company a “hold” rating in a report on Thursday, January 2nd. Bank of America raised their price target on Marriott International from $275.00 to $300.00 and gave the company a “buy” rating in a report on Monday, October 21st. Finally, Wells Fargo & Company raised their price target on Marriott International from $238.00 to $261.00 and gave the company an “equal weight” rating in a report on Tuesday, October 22nd. Fourteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $272.15.

Insider Activity at Marriott International

In other Marriott International news, CAO Felitia Lee sold 916 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $276.48, for a total value of $253,255.68. Following the completion of the transaction, the chief accounting officer now directly owns 5,609 shares in the company, valued at $1,550,776.32. This represents a 14.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider William P. Brown sold 1,707 shares of the company’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $284.30, for a total value of $485,300.10. Following the completion of the transaction, the insider now owns 23,077 shares of the company’s stock, valued at $6,560,791.10. The trade was a 6.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 13,815 shares of company stock worth $3,919,739. 12.32% of the stock is owned by company 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, City Express by Marriott, and St.