Asahi Life Asset Management CO. LTD. Purchases New Shares in Marriott International, Inc. (NASDAQ:MAR)

Asahi Life Asset Management CO. LTD. acquired a new stake in Marriott International, Inc. (NASDAQ:MAR - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm acquired 1,580 shares of the company's stock, valued at approximately $376,000.

A number of other hedge funds have also recently bought and sold shares of the company. Straightline Group LLC bought a new position in shares of Marriott International in the 4th quarter worth $495,000. Sequoia Financial Advisors LLC boosted its position in shares of Marriott International by 11.9% in the 1st quarter. Sequoia Financial Advisors LLC now owns 13,441 shares of the company's stock worth $3,202,000 after purchasing an additional 1,432 shares during the last quarter. Financial Gravity Asset Management Inc. bought a new position in Marriott International during the first quarter worth about $2,244,000. Haven Capital Group Inc. bought a new position in Marriott International during the fourth quarter worth about $3,004,000. Finally, Teacher Retirement System of Texas lifted its holdings in Marriott International by 62.2% during the fourth quarter. Teacher Retirement System of Texas now owns 15,098 shares of the company's stock worth $4,211,000 after acquiring an additional 5,788 shares in the last quarter. 70.70% of the stock is currently owned by institutional investors.

Marriott International Stock Performance

Shares of NASDAQ:MAR opened at $281.65 on Monday. The company has a fifty day moving average of $266.48 and a 200-day moving average of $262.32. The company has a market capitalization of $77.14 billion, a PE ratio of 32.08, a price-to-earnings-growth ratio of 3.47 and a beta of 1.41. Marriott International, Inc. has a 52-week low of $204.55 and a 52-week high of $307.52.

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

Marriott International Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, May 23rd were issued a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 0.95%. This is an increase from Marriott International's previous quarterly dividend of $0.63. The ex-dividend date of this dividend was Friday, May 23rd. Marriott International's dividend payout ratio is presently 30.52%.

Analysts Set New Price Targets

Several research analysts have weighed in on MAR shares. The Goldman Sachs Group reiterated a "neutral" rating and set a $245.00 target price (down from $313.00) on shares of Marriott International in a report on Monday, April 14th. Barclays dropped their price target on Marriott International from $283.00 to $236.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 22nd. UBS Group dropped their price target on Marriott International from $302.00 to $299.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 21st. Mizuho dropped their price target on Marriott International from $293.00 to $285.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 7th. Finally, Dbs Bank raised Marriott International from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, May 14th. Thirteen equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Marriott International currently has an average rating of "Moderate Buy" and a consensus target price of $275.90.

Insider Activity at Marriott International

In related news, insider Rajeev Menon sold 2,500 shares of the stock in a transaction 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 sale, the insider directly owned 5,706 shares in the company, valued at $1,530,805.68. This represents a 30.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Benjamin T. Breland sold 1,000 shares of the stock in a transaction on Monday, May 12th. The shares were sold at an average price of $270.21, for a total value of $270,210.00. Following the completion of the sale, the executive vice president owned 20,724 shares of the company's stock, valued at $5,599,832.04. The trade was a 4.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 15,500 shares of company stock worth $4,107,710 over the last three months. Company insiders own 10.68% of the company's stock.

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.

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