Proactive Wealth Strategies LLC Purchases New Position in Marriott International, Inc. (NASDAQ:MAR)

Proactive Wealth Strategies LLC purchased a new position in shares of Marriott International, Inc. (NASDAQ:MAR - Free Report) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 2,397 shares of the company's stock, valued at approximately $596,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Canoe Financial LP acquired a new stake in Marriott International in the 3rd quarter valued at approximately $77,331,000. International Assets Investment Management LLC grew its holdings in Marriott International by 15,148.3% in the 3rd quarter. International Assets Investment Management LLC now owns 302,527 shares of the company's stock valued at $75,208,000 after buying an additional 300,543 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Marriott International by 36,856.7% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 241,327 shares of the company's stock valued at $58,346,000 after buying an additional 240,674 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Marriott International by 1.8% during the 1st quarter. JPMorgan Chase & Co. now owns 10,616,899 shares of the company's stock worth $2,678,750,000 after purchasing an additional 192,652 shares in the last quarter. Finally, Capital International Investors grew its holdings in shares of Marriott International by 4.7% during the 1st quarter. Capital International Investors now owns 3,296,879 shares of the company's stock worth $831,836,000 after purchasing an additional 149,378 shares in the last quarter. 70.70% of the stock is owned by hedge funds and other institutional investors.

Marriott International Stock Performance

Shares of NASDAQ MAR traded up $0.11 during trading hours on Tuesday, reaching $286.02. 1,142,590 shares of the stock were exchanged, compared to its average volume of 1,474,454. The firm has a market capitalization of $79.48 billion, a price-to-earnings ratio of 29.91, a P/E/G ratio of 6.15 and a beta of 1.58. Marriott International, Inc. has a 52 week low of $196.24 and a 52 week high of $287.00. The stock's fifty day simple moving average is $252.26 and its 200 day simple moving average is $240.54.

Marriott International (NASDAQ:MAR - Get Free Report) last posted its quarterly earnings data on Monday, November 4th. The company reported $2.26 EPS for the quarter, missing analysts' consensus estimates of $2.31 by ($0.05). Marriott International had a negative return on equity of 177.91% and a net margin of 11.18%. The company had revenue of $6.26 billion for the quarter, compared to the consensus estimate of $6.27 billion. During the same quarter last year, the business earned $2.11 EPS. Marriott International's revenue was up 5.5% on a year-over-year basis. Research analysts predict that Marriott International, Inc. will post 9.27 EPS for the current fiscal year.

Marriott International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Thursday, November 21st will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 0.88%. The ex-dividend date of this dividend is Thursday, November 21st. Marriott International's payout ratio is presently 26.36%.

Insider Activity

In other news, CAO Felitia Lee sold 916 shares of the business's stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $276.48, for a total value of $253,255.68. Following the transaction, the chief accounting officer now directly owns 5,609 shares of the company's stock, valued at $1,550,776.32. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, EVP Benjamin T. Breland sold 500 shares of the company's stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $274.49, for a total value of $137,245.00. Following the completion of the transaction, the executive vice president now directly owns 12,286 shares of the company's stock, valued at $3,372,384.14. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Felitia Lee sold 916 shares of the stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $276.48, for a total value of $253,255.68. Following the transaction, the chief accounting officer now directly owns 5,609 shares of the company's stock, valued at approximately $1,550,776.32. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 12.32% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on MAR. BMO Capital Markets lifted their price objective on Marriott International from $255.00 to $265.00 and gave the stock a "market perform" rating in a report on Tuesday, November 5th. Macquarie reissued a "neutral" rating and set a $245.00 price objective on shares of Marriott International in a report on Tuesday, November 5th. The Goldman Sachs Group started coverage on Marriott International in a report on Wednesday, September 18th. They set a "buy" rating and a $267.00 price objective on the stock. Truist Financial decreased their price target on Marriott International from $263.00 to $254.00 and set a "hold" rating on the stock in a research note on Tuesday, August 6th. Finally, Deutsche Bank Aktiengesellschaft decreased their price target on Marriott International from $222.00 to $216.00 and set a "hold" rating on the stock in a research note on Thursday, August 1st. Thirteen analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $259.00.

Marriott International Company Profile

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.