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BlueChip Wealth Advisors LLC Takes $16.16 Million Position in Marriott International, Inc. (NASDAQ:MAR)

Marriott International logo with Consumer Discretionary background

BlueChip Wealth Advisors LLC bought a new position in shares of Marriott International, Inc. (NASDAQ:MAR - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 67,860 shares of the company's stock, valued at approximately $16,164,000. Marriott International accounts for about 7.4% of BlueChip Wealth Advisors LLC's investment portfolio, making the stock its biggest position.

Several other large investors have also made changes to their positions in the company. FMR LLC grew its position in Marriott International by 0.8% during the fourth quarter. FMR LLC now owns 6,973,897 shares of the company's stock valued at $1,945,299,000 after buying an additional 56,978 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Marriott International by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 5,026,529 shares of the company's stock valued at $1,398,321,000 after buying an additional 60,458 shares in the last quarter. Capital International Investors raised its position in shares of Marriott International by 0.3% in the 4th quarter. Capital International Investors now owns 4,720,306 shares of the company's stock valued at $1,316,682,000 after purchasing an additional 15,923 shares during the last quarter. Wellington Management Group LLP raised its position 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 worth $1,300,168,000 after buying an additional 1,570,144 shares during the last quarter. Finally, Invesco Ltd. grew its stake in Marriott International by 17.4% in the 4th quarter. Invesco Ltd. now owns 3,469,070 shares of the company's stock valued at $967,662,000 after acquiring an additional 512,963 shares during the period. Institutional investors and hedge funds own 70.70% of the company's stock.

Marriott International Price Performance

Shares of NASDAQ MAR traded down $1.22 during trading hours on Tuesday, hitting $270.34. 442,404 shares of the stock were exchanged, compared to its average volume of 1,583,761. Marriott International, Inc. has a one year low of $204.55 and a one year high of $307.52. The company's 50 day moving average is $268.54 and its 200 day moving average is $262.17. The firm has a market capitalization of $74.05 billion, a P/E ratio of 30.82, a P/E/G ratio of 2.61 and a beta of 1.41.

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 for the quarter, beating analysts' consensus estimates of $2.25 by $0.07. The firm had revenue of $6.26 billion for the quarter, compared to analyst estimates of $6.19 billion. Marriott International had a net margin of 9.75% and a negative return on equity of 100.64%. The business's revenue was up 4.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.13 earnings per share. Research analysts anticipate that Marriott International, Inc. will post 10.1 earnings per share for the current fiscal year.

Marriott International Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, May 23rd were paid a dividend of $0.67 per share. The ex-dividend date of this dividend was Friday, May 23rd. 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 0.99%. Marriott International's dividend payout ratio (DPR) is 30.52%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Barclays dropped their price objective on Marriott International from $283.00 to $236.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 22nd. Mizuho cut their target price on Marriott International from $293.00 to $285.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th. Stifel Nicolaus dropped their price target on Marriott International from $295.00 to $240.00 and set a "hold" rating on the stock in a research report on Wednesday, April 16th. Melius Research upgraded Marriott International to a "strong-buy" rating in a research note on Monday, April 21st. Finally, Robert W. Baird increased their target price on Marriott International from $265.00 to $285.00 and gave the stock a "neutral" rating in a report on Wednesday, July 16th. Thirteen investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $276.90.

Read Our Latest Analysis on MAR

Insider Buying and Selling at Marriott International

In other news, EVP Benjamin T. Breland sold 1,000 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $270.21, for a total value of $270,210.00. Following the sale, the executive vice president directly owned 20,724 shares of the company's stock, valued at approximately $5,599,832.04. This represents a 4.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Rajeev Menon sold 2,500 shares of Marriott International 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 of the company's stock, valued at $1,530,805.68. The trade was a 30.47% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,500 shares of company stock worth $4,107,710. Corporate insiders own 10.68% of the company's stock.

Marriott International Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Marriott International (NASDAQ:MAR)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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