Envestnet Asset Management Inc. Sells 40,410 Shares of Marriott International, Inc. (NASDAQ:MAR)

Envestnet Asset Management Inc. cut its position in Marriott International, Inc. (NASDAQ:MAR - Free Report) by 21.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 149,400 shares of the company's stock after selling 40,410 shares during the period. Envestnet Asset Management Inc. owned 0.05% of Marriott International worth $35,587,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of MAR. Brighton Jones LLC lifted its position in shares of Marriott International by 2.5% during the fourth quarter. Brighton Jones LLC now owns 8,887 shares of the company's stock worth $2,479,000 after purchasing an additional 218 shares in the last quarter. Assetmark Inc. lifted its holdings in Marriott International by 275.0% in the fourth quarter. Assetmark Inc. now owns 225 shares of the company's stock valued at $63,000 after buying an additional 165 shares during the period. Proficio Capital Partners LLC lifted its holdings in Marriott International by 31.4% in the fourth quarter. Proficio Capital Partners LLC now owns 1,293 shares of the company's stock valued at $361,000 after buying an additional 309 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in Marriott International by 24.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 613 shares of the company's stock valued at $171,000 after buying an additional 120 shares during the period. Finally, Avantax Advisory Services Inc. lifted its holdings in Marriott International by 0.7% in the fourth quarter. Avantax Advisory Services Inc. now owns 8,278 shares of the company's stock valued at $2,309,000 after buying an additional 57 shares during the period. 70.70% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Marriott International

In other news, EVP Benjamin T. Breland sold 1,000 shares of Marriott International stock in a transaction dated 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 transaction, the executive vice president owned 20,724 shares of the company's stock, valued at $5,599,832.04. This trade represents a 4.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Anthony Capuano sold 12,000 shares of Marriott International stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $263.90, for a total transaction of $3,166,800.00. Following the completion of the transaction, the chief executive officer directly owned 124,067 shares of the company's stock, valued at approximately $32,741,281.30. This trade represents a 8.82% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 15,500 shares of company stock valued at $4,107,710. Corporate insiders own 10.68% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on MAR. UBS Group cut their price objective on shares of Marriott International from $302.00 to $299.00 and set a "neutral" rating on the stock in a report on Wednesday, May 21st. Barclays cut their price objective on shares of Marriott International from $283.00 to $236.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 22nd. Truist Financial cut their price objective on shares of Marriott International from $300.00 to $273.00 and set a "hold" rating on the stock in a report on Friday, May 30th. Robert W. Baird increased their price objective on shares of Marriott International from $265.00 to $285.00 and gave the company a "neutral" rating in a report on Wednesday. Finally, Dbs Bank raised shares of Marriott International from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, May 14th. Thirteen investment 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $276.90.

Marriott International Stock Down 0.7%

Shares of NASDAQ:MAR traded down $2.00 during midday trading on Thursday, reaching $271.60. 1,564,870 shares of the company were exchanged, compared to its average volume of 1,587,786. Marriott International, Inc. has a fifty-two week low of $204.55 and a fifty-two week high of $307.52. The stock has a fifty day simple moving average of $268.25 and a two-hundred day simple moving average of $262.42. The firm has a market cap of $74.39 billion, a PE ratio of 30.93, a P/E/G ratio of 3.38 and a beta of 1.41.

Marriott International (NASDAQ:MAR - Get Free Report) last released its 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 business 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 firm's revenue for the quarter was up 4.8% compared to the same quarter last year. During the same quarter last year, the firm earned $2.13 earnings per share. As a group, analysts forecast that Marriott International, Inc. will post 10.1 earnings per share for the current year.

Marriott International Increases Dividend

The firm 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. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $2.68 dividend on an annualized basis and a yield of 0.99%. This is an increase from Marriott International's previous quarterly dividend of $0.63. Marriott International's dividend payout ratio (DPR) is 30.52%.

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.