David Wealth Management LLC Takes Position in Marriott International, Inc. (NASDAQ:MAR)

David Wealth Management LLC bought a new stake in shares of Marriott International, Inc. (NASDAQ:MAR) during the 4th quarter, Holdings Channel reports. The institutional investor bought 3,854 shares of the company’s stock, valued at approximately $1,075,000. Marriott International makes up approximately 0.9% of David Wealth Management LLC’s holdings, making the stock its 14th biggest position.

Several other institutional investors have also added to or reduced their stakes in MAR. Jensen Investment Management Inc. purchased a new position in shares of Marriott International in the third quarter worth about $793,000. BayBridge Capital Group LLC purchased a new stake in shares of Marriott International in the 3rd quarter valued at $1,254,000. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Marriott International by 0.5% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 566,548 shares of the company’s stock worth $140,844,000 after purchasing an additional 2,723 shares during the last quarter. Oddo BHF Asset Management Sas acquired a new position in Marriott International during the third quarter valued at $2,721,000. Finally, Kinsale Capital Group Inc. acquired a new stake in Marriott International during the 3rd quarter worth about $3,769,000. Institutional investors and hedge funds own 70.70% of the company’s stock.

Analyst Ratings Changes

MAR has been the subject of several analyst reports. Wells Fargo & Company upped their target price on Marriott International from $262.00 to $285.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 4th. Argus upped their price objective on shares of Marriott International from $300.00 to $330.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Evercore ISI upgraded Marriott International from an “in-line” rating to an “outperform” rating and set a $330.00 price target for the company in a research note on Tuesday, February 4th. Bank of America raised their price objective on Marriott International from $275.00 to $300.00 and gave the company a “buy” rating in a report on Monday, October 21st. Finally, Truist Financial upped their target price on Marriott International from $254.00 to $277.00 and gave the stock a “hold” rating in a research note on Wednesday, December 4th. Thirteen research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $276.35.

Insiders Place Their Bets

In other news, insider William P. Brown sold 1,707 shares of the company’s 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 completion of the transaction, the insider now owns 23,077 shares in the company, valued at approximately $6,560,791.10. This represents a 6.89 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 12.32% of the company’s stock.

Marriott International Trading Down 5.4 %

Shares of NASDAQ:MAR opened at $288.00 on Wednesday. The business has a 50-day moving average price of $284.30 and a 200 day moving average price of $261.51. Marriott International, Inc. has a 12-month low of $204.55 and a 12-month high of $307.52. The company has a market capitalization of $80.03 billion, a price-to-earnings ratio of 30.13, a PEG ratio of 4.88 and a beta of 1.57.

Marriott International (NASDAQ:MAR) last released its quarterly earnings results on Tuesday, February 11th. The company reported $2.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.37 by $0.08. Marriott International had a net margin of 11.18% and a negative return on equity of 177.91%. As a group, equities research analysts predict that Marriott International, Inc. will post 9.26 earnings per share for the current fiscal year.

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.