Empirical Financial Services LLC d.b.a. Empirical Wealth Management Boosts Stake in Marriott International, Inc. (NASDAQ:MAR)

Key Points

• Empirical Wealth Management increased its stake in Marriott International by 55.3% during the first quarter, now owning 5,111 shares valued at approximately $1.2 million.
• Marriott recently announced an increase in its quarterly dividend to $0.67 per share from the previous amount of $0.63, reflecting a strong return for shareholders.
• Analysts' consensus rating for Marriott International is currently classified as a "Moderate Buy", with a consensus price target of $280.11.

Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its holdings in shares of Marriott International, Inc. (NASDAQ:MAR - Free Report) by 55.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,111 shares of the company's stock after purchasing an additional 1,821 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management's holdings in Marriott International were worth $1,217,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bernard Wealth Management Corp. acquired a new position in shares of Marriott International in the fourth quarter valued at about $25,000. Morse Asset Management Inc purchased a new stake in Marriott International in the first quarter valued at approximately $30,000. Kapitalo Investimentos Ltda acquired a new position in Marriott International in the 4th quarter worth approximately $34,000. Sound Income Strategies LLC raised its position in Marriott International by 46.7% during the 1st quarter. Sound Income Strategies LLC now owns 157 shares of the company's stock worth $37,000 after buying an additional 50 shares during the last quarter. Finally, Heck Capital Advisors LLC acquired a new stake in Marriott International during the 4th quarter valued at approximately $38,000. Hedge funds and other institutional investors own 70.70% of the company's stock.

Marriott International Stock Performance

Shares of MAR traded down $8.48 during mid-day trading on Friday, hitting $255.35. 2,496,293 shares of the company were exchanged, compared to its average volume of 1,413,228. The stock has a market cap of $69.94 billion, a price-to-earnings ratio of 29.08, a price-to-earnings-growth ratio of 2.45 and a beta of 1.44. Marriott International, Inc. has a 1-year low of $204.55 and a 1-year high of $307.52. The company has a 50 day moving average of $269.05 and a 200-day moving average of $261.98.

Marriott International (NASDAQ:MAR - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $2.32 EPS for the quarter, beating analysts' consensus estimates of $2.25 by $0.07. The business had revenue of $6.26 billion during the quarter, compared to analysts' expectations of $6.19 billion. Marriott International had a negative return on equity of 100.64% and a net margin of 9.75%. The business's revenue was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $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 firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, May 23rd were given a dividend of $0.67 per share. The ex-dividend date was Friday, May 23rd. This is a boost from Marriott International's previous quarterly dividend of $0.63. This represents a $2.68 dividend on an annualized basis and a yield of 1.0%. Marriott International's dividend payout ratio (DPR) is presently 30.52%.

Insider Buying and Selling

In related news, EVP Benjamin T. Breland sold 1,000 shares of Marriott International stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $270.21, for a total transaction of $270,210.00. Following the transaction, the executive vice president 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Anthony Capuano sold 12,000 shares of Marriott International stock in a transaction on Friday, May 30th. The stock was sold at an average price of $263.90, for a total value of $3,166,800.00. Following the transaction, the chief executive officer owned 124,067 shares in the company, valued at approximately $32,741,281.30. This represents a 8.82% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 15,500 shares of company stock worth $4,107,710. 10.68% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on MAR shares. Jefferies Financial Group raised shares of Marriott International from a "hold" rating to a "buy" rating and raised their target price for the stock from $226.00 to $303.00 in a report on Monday, May 12th. BMO Capital Markets lifted their price objective on Marriott International from $250.00 to $265.00 and gave the company a "market perform" rating in a research note on Wednesday, May 7th. UBS Group lowered their target price 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. Truist Financial reduced their price target on Marriott International from $300.00 to $273.00 and set a "hold" rating for the company in a research report on Friday, May 30th. Finally, Stifel Nicolaus dropped their price objective on shares of Marriott International from $295.00 to $240.00 and set a "hold" rating on the stock in a research note on Wednesday, April 16th. Twelve analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $280.11.

About Marriott International

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.