Axxcess Wealth Management LLC Sells 1,187 Shares of Marriott International, Inc. (NASDAQ:MAR)

Axxcess Wealth Management LLC lessened its holdings in shares of Marriott International, Inc. (NASDAQ:MAR - Free Report) by 10.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,930 shares of the company's stock after selling 1,187 shares during the period. Axxcess Wealth Management LLC's holdings in Marriott International were worth $2,365,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new position in shares of Marriott International in the fourth quarter worth $580,922,000. Wellington Management Group LLP boosted its stake in Marriott International by 50.8% during the 4th quarter. Wellington Management Group LLP now owns 4,661,101 shares of the company's stock valued at $1,300,168,000 after purchasing an additional 1,570,144 shares in the last quarter. GAMMA Investing LLC boosted its stake in Marriott International by 23,923.3% during the 1st quarter. GAMMA Investing LLC now owns 731,989 shares of the company's stock valued at $174,360,000 after purchasing an additional 728,942 shares in the last quarter. Invesco Ltd. boosted its stake in Marriott International by 17.4% during the fourth quarter. Invesco Ltd. now owns 3,469,070 shares of the company's stock valued at $967,662,000 after buying an additional 512,963 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in Marriott International by 16.3% during the fourth quarter. Northern Trust Corp now owns 2,333,994 shares of the company's stock valued at $651,044,000 after buying an additional 327,415 shares in the last quarter. 70.70% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO Anthony Capuano sold 12,000 shares of the company's stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $263.90, for a total value of $3,166,800.00. Following the sale, the chief executive officer owned 124,067 shares of the company's stock, valued at $32,741,281.30. The trade was a 8.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Rajeev Menon sold 2,500 shares of the company's stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $268.28, for a total value of $670,700.00. Following the completion of the sale, the insider owned 5,706 shares in the company, valued at approximately $1,530,805.68. This represents a 30.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 15,500 shares of company stock worth $4,107,710. 10.68% of the stock is currently owned by corporate insiders.

Marriott International Price Performance

MAR stock traded down $0.65 on Friday, reaching $281.65. 990,597 shares of the company were exchanged, compared to its average volume of 1,590,819. The firm has a market capitalization of $77.14 billion, a PE ratio of 32.08, a PEG ratio of 3.48 and a beta of 1.41. Marriott International, Inc. has a 12 month low of $204.55 and a 12 month high of $307.52. The stock's fifty day moving average price is $265.84 and its 200 day moving average price is $262.68.

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

Marriott International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, May 23rd were given a $0.67 dividend. This is a boost from Marriott International's previous quarterly dividend of $0.63. This represents a $2.68 annualized dividend and a yield of 0.95%. The ex-dividend date was Friday, May 23rd. Marriott International's dividend payout ratio (DPR) is 30.52%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. BMO Capital Markets raised their price objective on Marriott International from $250.00 to $265.00 and gave the stock a "market perform" rating in a research note on Wednesday, May 7th. JPMorgan Chase & Co. began coverage on shares of Marriott International in a research note on Monday, June 23rd. They issued a "neutral" rating and a $284.00 price objective for the company. Barclays decreased their price objective on shares of Marriott International from $283.00 to $236.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 22nd. Robert W. Baird raised their target price on Marriott International from $250.00 to $265.00 and gave the stock a "neutral" rating in a research report on Wednesday, May 7th. Finally, Morgan Stanley decreased their price objective on Marriott International from $275.00 to $267.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Thirteen equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $275.90.

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.