Summit Financial LLC Decreases Stake in Marriott International, Inc. (NASDAQ:MAR)

Summit Financial LLC lessened its holdings in Marriott International, Inc. (NASDAQ:MAR - Free Report) by 30.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,765 shares of the company's stock after selling 2,520 shares during the quarter. Summit Financial LLC's holdings in Marriott International were worth $1,608,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Marriott International in the 4th quarter valued at $580,922,000. Wellington Management Group LLP grew its holdings in shares of Marriott International by 50.8% during the fourth quarter. Wellington Management Group LLP now owns 4,661,101 shares of the company's stock worth $1,300,168,000 after purchasing an additional 1,570,144 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Marriott International in the 4th quarter valued at about $165,162,000. PointState Capital LP purchased a new position in Marriott International during the 3rd quarter worth approximately $98,249,000. Finally, Proficio Capital Partners LLC lifted its stake in Marriott International by 36,564.5% in the fourth quarter. Proficio Capital Partners LLC now owns 360,779 shares of the company's stock valued at $100,636,000 after buying an additional 359,795 shares during the last quarter. 70.70% of the stock is currently owned by institutional investors and hedge funds.

Marriott International Trading Down 4.5 %

Shares of MAR stock traded down $10.04 during mid-day trading on Friday, reaching $214.58. The stock had a trading volume of 3,573,896 shares, compared to its average volume of 1,524,474. Marriott International, Inc. has a 12-month low of $204.55 and a 12-month high of $307.52. The business has a 50-day simple moving average of $267.40 and a 200 day simple moving average of $270.62. The company has a market cap of $59.22 billion, a P/E ratio of 25.79, a price-to-earnings-growth ratio of 3.42 and a beta of 1.42.

Marriott International (NASDAQ:MAR - Get Free Report) last announced its quarterly earnings results on Tuesday, February 11th. The company reported $2.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.37 by $0.08. Marriott International had a net margin of 9.46% and a negative return on equity of 116.67%. Research analysts anticipate that Marriott International, Inc. will post 10.1 EPS for the current year.

Marriott International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Thursday, February 27th were issued a $0.63 dividend. The ex-dividend date was Thursday, February 27th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.17%. Marriott International's dividend payout ratio (DPR) is 30.29%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on MAR shares. Morgan Stanley lifted their target price on shares of Marriott International from $289.00 to $298.00 and gave the company an "overweight" rating in a report on Tuesday, March 4th. Jefferies Financial Group upped their target price on shares of Marriott International from $251.00 to $295.00 and gave the company a "hold" rating in a report on Thursday, January 2nd. Barclays reduced their price objective on Marriott International from $287.00 to $283.00 and set an "equal weight" rating for the company in a research note on Wednesday, February 12th. Truist Financial dropped their price objective on shares of Marriott International from $308.00 to $300.00 and set a "hold" rating on the stock in a research note on Friday, March 21st. Finally, Mizuho raised their target price on shares of Marriott International from $246.00 to $293.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 12th. Thirteen equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, Marriott International currently has an average rating of "Hold" and a consensus target price of $286.05.

Insider Activity at Marriott International

In related news, Director Susan C. Schwab sold 1,054 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $277.48, for a total transaction of $292,463.92. Following the transaction, the director now directly owns 4,551 shares in the company, valued at approximately $1,262,811.48. This represents a 18.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Kathleen K. Oberg sold 14,498 shares of the company's stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $278.07, for a total transaction of $4,031,458.86. Following the transaction, the chief financial officer now directly owns 14,282 shares of the company's stock, valued at approximately $3,971,395.74. This represents a 50.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 31,694 shares of company stock valued at $8,938,132 over the last quarter. Insiders own 12.32% of the company's stock.

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.