Ackerman Asset Management LLC Purchases Shares of 1,169 Marriott International, Inc. (NASDAQ:MAR)

Key Points

• Ackerman Asset Management LLC has acquired 1,169 shares of Marriott International, valued at approximately $278,000, making it the 19th largest holding in their investment portfolio.
• Multiple institutional investors have increased their stakes in Marriott International, with 70.70% of the company's stock currently owned by institutional investors.
• Marriott International has recently declared a quarterly dividend of $0.67, up from the previous $0.63, reflecting a positive change in its financial performance.

Ackerman Asset Management LLC purchased a new stake in shares of Marriott International, Inc. (NASDAQ:MAR - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The fund purchased 1,169 shares of the company's stock, valued at approximately $278,000. Marriott International comprises 0.3% of Ackerman Asset Management LLC's investment portfolio, making the stock its 19th largest position.

Several other large investors have also bought and sold shares of the stock. Bernard Wealth Management Corp. purchased a new stake in shares of Marriott International in the fourth quarter worth $25,000. Morse Asset Management Inc bought a new position in Marriott International during the 1st quarter valued at approximately $30,000. Kapitalo Investimentos Ltda bought a new position in Marriott International in the fourth quarter worth about $34,000. Sound Income Strategies LLC boosted its holdings in shares of Marriott International by 46.7% during the 1st quarter. Sound Income Strategies LLC now owns 157 shares of the company's stock valued at $37,000 after buying an additional 50 shares in the last quarter. Finally, Heck Capital Advisors LLC bought a new position in shares of Marriott International during the fourth quarter valued at approximately $38,000. 70.70% of the stock is currently owned by institutional investors.

Insider Transactions at Marriott International

In related news, EVP Benjamin T. Breland sold 1,000 shares of the firm's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $270.21, for a total transaction of $270,210.00. Following the completion of the sale, the executive vice president directly owned 20,724 shares in the company, valued at approximately $5,599,832.04. This trade represents a 4.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Rajeev Menon sold 2,500 shares of the stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $268.28, for a total value of $670,700.00. Following the completion of the transaction, the insider owned 5,706 shares of the company's stock, valued at $1,530,805.68. The trade was a 30.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 15,500 shares of company stock valued at $4,107,710 over the last 90 days. 10.68% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have commented on MAR shares. Morgan Stanley reduced their target price on Marriott International from $275.00 to $267.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Stifel Nicolaus dropped their price target on shares of Marriott International from $295.00 to $240.00 and set a "hold" rating for the company in a research report on Wednesday, April 16th. JPMorgan Chase & Co. assumed coverage on shares of Marriott International in a report on Monday, June 23rd. They issued a "neutral" rating and a $284.00 target price on the stock. Barclays reduced their price target on shares of Marriott International from $283.00 to $236.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 22nd. Finally, Dbs Bank upgraded Marriott International from a "hold" rating to a "strong-buy" rating in a report on Wednesday, May 14th. Thirteen research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Marriott International currently has a consensus rating of "Moderate Buy" and a consensus price target of $276.90.

Marriott International Trading Down 3.2%

Marriott International stock traded down $8.48 during mid-day trading on Friday, hitting $255.35. The company had a trading volume of 2,496,293 shares, compared to its average volume of 1,288,412. The company has a market capitalization of $69.94 billion, a price-to-earnings ratio of 29.08, a P/E/G ratio of 2.53 and a beta of 1.44. The company's fifty day moving average is $269.05 and its 200-day moving average is $262.17. Marriott International, Inc. has a 12-month low of $204.55 and a 12-month high of $307.52.

Marriott International (NASDAQ:MAR - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $2.32 earnings per share for the quarter, topping analysts' consensus estimates of $2.25 by $0.07. Marriott International had a negative return on equity of 100.64% and a net margin of 9.75%. The company had revenue of $6.26 billion during the quarter, compared to analysts' expectations of $6.19 billion. During the same quarter in the prior year, the firm posted $2.13 EPS. Marriott International's quarterly revenue was up 4.8% compared to the same quarter last year. As a group, sell-side analysts expect that Marriott International, Inc. will post 10.1 EPS for the current fiscal year.

Marriott International Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, May 23rd were issued a dividend of $0.67 per share. The ex-dividend date of this dividend was Friday, May 23rd. This is a positive change from Marriott International's previous quarterly dividend of $0.63. This represents a $2.68 dividend on an annualized basis and a dividend yield of 1.0%. Marriott International's payout ratio is currently 30.52%.

Marriott International 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.