Jennison Associates LLC Sells 2,158,274 Shares of Marriott International, Inc. (NASDAQ:MAR)

Jennison Associates LLC reduced its position in shares of Marriott International, Inc. (NASDAQ:MAR - Free Report) by 99.9% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,191 shares of the company's stock after selling 2,158,274 shares during the quarter. Jennison Associates LLC's holdings in Marriott International were worth $760,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in MAR. Straightline Group LLC purchased a new position in shares of Marriott International in the fourth quarter worth $495,000. Financial Gravity Asset Management Inc. purchased a new position in shares of Marriott International in the first quarter worth $2,244,000. Sequoia Financial Advisors LLC lifted its holdings in shares of Marriott International by 11.9% in the first quarter. Sequoia Financial Advisors LLC now owns 13,441 shares of the company's stock worth $3,202,000 after buying an additional 1,432 shares in the last quarter. Teacher Retirement System of Texas lifted its holdings in shares of Marriott International by 62.2% in the fourth quarter. Teacher Retirement System of Texas now owns 15,098 shares of the company's stock worth $4,211,000 after buying an additional 5,788 shares in the last quarter. Finally, Alpha Cubed Investments LLC purchased a new position in shares of Marriott International in the first quarter worth $974,000. 70.70% of the stock is currently owned by institutional investors.

Marriott International Stock Performance

NASDAQ MAR opened at $271.56 on Tuesday. Marriott International, Inc. has a twelve month low of $204.55 and a twelve month high of $307.52. The stock has a market capitalization of $74.38 billion, a PE ratio of 30.93, a P/E/G ratio of 2.61 and a beta of 1.41. The stock has a 50-day simple moving average of $268.54 and a 200 day simple moving average of $262.17.

Marriott International (NASDAQ:MAR - Get Free Report) last released its quarterly earnings data 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. The company had revenue of $6.26 billion for the quarter, compared to analyst estimates of $6.19 billion. Marriott International had a negative return on equity of 100.64% and a net margin of 9.75%. The company's revenue was up 4.8% compared to the same quarter last year. During the same period in the prior year, the company posted $2.13 EPS. As a group, equities research analysts forecast that Marriott International, Inc. will post 10.1 EPS 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 issued a dividend of $0.67 per share. 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 a boost from Marriott International's previous quarterly dividend of $0.63. Marriott International's dividend payout ratio (DPR) is presently 30.52%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on MAR shares. The Goldman Sachs Group reissued a "neutral" rating and issued a $245.00 price objective (down previously from $313.00) on shares of Marriott International in a research note on Monday, April 14th. Melius Research raised shares of Marriott International to a "strong-buy" rating in a research report on Monday, April 21st. Stifel Nicolaus decreased their price target on shares of Marriott International from $295.00 to $240.00 and set a "hold" rating for the company in a research report on Wednesday, April 16th. JPMorgan Chase & Co. started coverage on shares of Marriott International in a research report on Monday, June 23rd. They set a "neutral" rating and a $284.00 price target for the company. Finally, Dbs Bank raised shares of Marriott International from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, May 14th. 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 stock. Based on data from MarketBeat, Marriott International currently has an average rating of "Moderate Buy" and an average target price of $276.90.

Insider Buying and Selling

In other news, CEO Anthony Capuano sold 12,000 shares of the business's stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $263.90, for a total transaction of $3,166,800.00. Following the completion of the sale, the chief executive officer owned 124,067 shares in the company, valued at $32,741,281.30. The trade was a 8.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Rajeev Menon sold 2,500 shares of the business's stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $268.28, for a total value of $670,700.00. Following the completion of the sale, the insider owned 5,706 shares of the company's stock, valued at approximately $1,530,805.68. This trade represents a 30.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 15,500 shares of company stock worth $4,107,710. Company insiders own 10.68% of the company's stock.

Marriott International Company 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.

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