Financial Gravity Asset Management Inc. Takes Position in Marriott International, Inc. (NASDAQ:MAR)

Financial Gravity Asset Management Inc. purchased a new stake in shares of Marriott International, Inc. (NASDAQ:MAR - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,420 shares of the company's stock, valued at approximately $2,244,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Hopwood Financial Services Inc. acquired a new position in Marriott International in the fourth quarter valued at about $25,000. Bernard Wealth Management Corp. bought a new position in shares of Marriott International during the fourth quarter worth about $25,000. Kapitalo Investimentos Ltda bought a new position in shares of Marriott International during the fourth quarter worth about $34,000. Heck Capital Advisors LLC bought a new position in shares of Marriott International during the fourth quarter worth about $38,000. Finally, Sound Income Strategies LLC grew its holdings in shares of Marriott International by 46.7% during the first quarter. Sound Income Strategies LLC now owns 157 shares of the company's stock worth $37,000 after buying an additional 50 shares in the last quarter. Institutional investors own 70.70% of the company's stock.

Insider Buying and Selling at Marriott International

In other Marriott International news, 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 transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Benjamin T. Breland sold 1,000 shares of Marriott International 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 transaction, the executive vice president directly owned 20,724 shares of the company's stock, valued at $5,599,832.04. This represents 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 valued at $4,107,710 in the last three months. Corporate insiders own 10.68% of the company's stock.

Marriott International Stock Performance

NASDAQ:MAR traded down $0.65 during mid-day trading on Friday, hitting $281.65. 990,597 shares of the stock were exchanged, compared to its average volume of 1,590,384. The stock has a market capitalization of $77.14 billion, a price-to-earnings ratio of 32.08, a price-to-earnings-growth ratio of 3.48 and a beta of 1.41. The firm's 50-day simple moving average is $266.48 and its 200 day simple moving average is $262.65. Marriott International, Inc. has a fifty-two week low of $204.55 and a fifty-two week high of $307.52.

Marriott International (NASDAQ:MAR - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $2.32 earnings per share for the quarter, topping the consensus estimate 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 firm's revenue for the quarter was up 4.8% compared to the same quarter last year. During the same period last year, the firm posted $2.13 EPS. On average, analysts predict 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. Shareholders of record on Friday, May 23rd were issued a $0.67 dividend. 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 annualized dividend and a yield of 0.95%. Marriott International's payout ratio is currently 30.52%.

Analyst Ratings Changes

MAR has been the subject of a number of research reports. Stifel Nicolaus decreased their price objective on Marriott International from $295.00 to $240.00 and set a "hold" rating for the company in a report on Wednesday, April 16th. UBS Group decreased their price objective on Marriott International from $302.00 to $299.00 and set a "neutral" rating for the company in a report on Wednesday, May 21st. Morgan Stanley decreased their price target on Marriott International from $275.00 to $267.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. Melius Research upgraded Marriott International to a "strong-buy" rating in a research note on Monday, April 21st. Finally, The Goldman Sachs Group restated a "neutral" rating and issued a $245.00 price target (down from $313.00) on shares of Marriott International in a research note on Monday, April 14th. Thirteen analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, Marriott International currently has an average rating of "Moderate Buy" and an average target price of $275.90.

Marriott International 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.