Penobscot Investment Management Company Inc. Sells 125 Shares of Marriott International, Inc. (NASDAQ:MAR)

Penobscot Investment Management Company Inc. lowered its holdings in shares of Marriott International, Inc. (NASDAQ:MAR) by 2.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,260 shares of the company’s stock after selling 125 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in Marriott International were worth $1,746,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in MAR. NewEdge Wealth LLC boosted its stake in shares of Marriott International by 34.4% during the 4th quarter. NewEdge Wealth LLC now owns 4,345 shares of the company’s stock worth $1,212,000 after acquiring an additional 1,112 shares during the last quarter. Oddo BHF Asset Management Sas purchased a new position in Marriott International during the third quarter valued at $2,721,000. Union Bancaire Privee UBP SA purchased a new stake in Marriott International in the fourth quarter worth about $2,990,000. Markel Group Inc. raised its stake in shares of Marriott International by 30.6% in the fourth quarter. Markel Group Inc. now owns 47,000 shares of the company’s stock worth $13,110,000 after buying an additional 11,000 shares during the period. Finally, Covea Finance lifted its position in shares of Marriott International by 69.9% during the 4th quarter. Covea Finance now owns 60,540 shares of the company’s stock valued at $16,887,000 after buying an additional 24,900 shares in the last quarter. Hedge funds and other institutional investors own 70.70% of the company’s stock.

Marriott International Price Performance

Shares of NASDAQ MAR opened at $246.48 on Wednesday. The stock has a market capitalization of $67.95 billion, a P/E ratio of 29.63, a PEG ratio of 3.42 and a beta of 1.58. Marriott International, Inc. has a 1-year low of $204.55 and a 1-year high of $307.52. The business’s 50 day moving average is $274.34 and its two-hundred day moving average is $270.60.

Marriott International (NASDAQ:MAR) last issued its quarterly earnings results on Tuesday, February 11th. The company reported $2.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.37 by $0.08. Marriott International had a negative return on equity of 116.67% and a net margin of 9.46%. As a group, equities research analysts anticipate that Marriott International, Inc. will post 10.1 earnings per share for the current fiscal year.

Marriott International Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, February 27th will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 1.02%. The ex-dividend date of this dividend is Thursday, February 27th. Marriott International’s payout ratio is currently 30.29%.

Wall Street Analyst Weigh In

MAR has been the topic of several analyst reports. The Goldman Sachs Group lifted their price target on shares of Marriott International from $280.00 to $314.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Wells Fargo & Company dropped their target price on shares of Marriott International from $285.00 to $277.00 and set an “equal weight” rating for the company in a report on Tuesday, February 18th. Barclays decreased their price target on Marriott International from $287.00 to $283.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 12th. UBS Group increased their target price on Marriott International from $294.00 to $301.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 12th. Finally, Morgan Stanley upped their price target on Marriott International from $289.00 to $298.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 4th. Thirteen research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $286.05.

Insider Activity

In other news, EVP Rena Hozore Reiss sold 3,500 shares of the company’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $286.65, for a total value of $1,003,275.00. Following the transaction, the executive vice president now directly owns 24,733 shares in the company, valued at approximately $7,089,714.45. This represents a 12.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Susan C. Schwab sold 1,054 shares of Marriott International stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $277.48, for a total transaction of $292,463.92. Following the sale, the director now owns 4,551 shares of the company’s stock, valued at $1,262,811.48. The trade was a 18.80 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 31,694 shares of company stock valued at $8,938,132. 12.32% of the stock is currently 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, City Express by Marriott, and St.