Howard Capital Management Inc. Sells 971 Shares of Marriott International, Inc. (NASDAQ:MAR)

Key Points

• Howard Capital Management Inc. has reduced its stake in Marriott International by 13.3%, now holding 6,320 shares valued at approximately $1.51 million.
• Recent insider transactions include the sale of 1,000 shares by EVP Benjamin T. Breland and 12,000 shares by CEO Anthony Capuano, indicating an 8.82% decrease in the CEO's ownership.
• Marriott International has announced a quarterly dividend of $0.67 per share, highlighting a boost from the previous dividend and a yield of 0.99%.

Howard Capital Management Inc. cut its position in shares of Marriott International, Inc. (NASDAQ:MAR - Free Report) by 13.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,320 shares of the company's stock after selling 971 shares during the period. Howard Capital Management Inc.'s holdings in Marriott International were worth $1,505,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MAR. Wescott Financial Advisory Group LLC raised its stake in shares of Marriott International by 0.6% in the 4th quarter. Wescott Financial Advisory Group LLC now owns 5,554 shares of the company's stock valued at $1,549,000 after acquiring an additional 35 shares in the last quarter. 4J Wealth Management LLC raised its stake in shares of Marriott International by 3.6% in the 1st quarter. 4J Wealth Management LLC now owns 1,224 shares of the company's stock valued at $292,000 after acquiring an additional 43 shares in the last quarter. Obsidian Personal Planning Solutions LLC increased its position in Marriott International by 2.2% in the 4th quarter. Obsidian Personal Planning Solutions LLC now owns 2,019 shares of the company's stock worth $587,000 after buying an additional 44 shares during the period. Sound Income Strategies LLC increased its position in Marriott International by 46.7% in 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 period. Finally, Rosenberg Matthew Hamilton increased its position in Marriott International by 3.4% in the 1st quarter. Rosenberg Matthew Hamilton now owns 1,529 shares of the company's stock worth $364,000 after buying an additional 50 shares during the period. 70.70% of the stock is owned by hedge funds and other institutional investors.

Marriott International Stock Performance

NASDAQ:MAR traded down $8.48 during mid-day trading on Friday, hitting $255.35. The company had a trading volume of 2,496,293 shares, compared to its average volume of 1,288,412. Marriott International, Inc. has a fifty-two week low of $204.55 and a fifty-two week high of $307.52. The business's fifty day moving average is $269.05 and its two-hundred day moving average is $262.17. The firm has a market cap of $69.94 billion, a P/E ratio of 29.08, a P/E/G ratio of 2.53 and a beta of 1.44.

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 the consensus estimate of $2.25 by $0.07. Marriott International had a negative return on equity of 100.64% and a net margin of 9.75%. The firm had revenue of $6.26 billion for the quarter, compared to analyst estimates of $6.19 billion. During the same quarter in the prior year, the firm posted $2.13 earnings per share. The company's quarterly revenue was up 4.8% on a year-over-year basis. Equities 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 declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, May 23rd were issued a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 1.0%. This is an increase from Marriott International's previous quarterly dividend of $0.63. The ex-dividend date was Friday, May 23rd. Marriott International's dividend payout ratio is currently 30.52%.

Wall Street Analysts Forecast Growth

MAR has been the topic of several recent analyst reports. Melius Research raised Marriott International to a "strong-buy" rating in a research report on Monday, April 21st. BMO Capital Markets lifted their price target on Marriott International from $250.00 to $265.00 and gave the stock a "market perform" rating 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. Robert W. Baird upped their price target on Marriott International from $265.00 to $285.00 and gave the company a "neutral" rating in a research report on Wednesday, July 16th. Finally, Morgan Stanley lowered their price target on Marriott International from $275.00 to $267.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Thirteen analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $276.90.

Insiders Place Their Bets

In related news, EVP Benjamin T. Breland sold 1,000 shares of the stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $270.21, for a total transaction of $270,210.00. Following the completion of the transaction, the executive vice president directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Rajeev Menon sold 2,500 shares of the stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $268.28, for a total value of $670,700.00. Following the transaction, the insider owned 5,706 shares of the company's stock, valued at approximately $1,530,805.68. The trade was a 30.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 15,500 shares of company stock worth $4,107,710 over the last ninety days. 10.68% of the stock is currently owned by corporate insiders.

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.