LPL Financial LLC Sells 5,050 Shares of Marriott International, Inc. (NASDAQ:MAR)

Key Points

• LPL Financial LLC reduced its stake in Marriott International by 2.9%, owning 171,755 shares worth approximately $40.91 million after selling 5,050 shares.
• Marriott International recently announced a quarterly dividend increase to $0.67 per share, with a current yield of 1.0% and a payout ratio of 30.52%.
• Analyst ratings for Marriott International show a consensus rating of "Moderate Buy" with a target price averaging $280.11.

LPL Financial LLC trimmed its holdings in shares of Marriott International, Inc. (NASDAQ:MAR - Free Report) by 2.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 171,755 shares of the company's stock after selling 5,050 shares during the quarter. LPL Financial LLC owned about 0.06% of Marriott International worth $40,912,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of MAR. Bernard Wealth Management Corp. bought a new stake in shares of Marriott International in the fourth quarter valued at about $25,000. Morse Asset Management Inc bought a new stake in shares of Marriott International in the first quarter valued at about $30,000. Kapitalo Investimentos Ltda bought a new stake in shares of Marriott International in the fourth quarter valued at about $34,000. Sound Income Strategies LLC lifted its stake in 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 purchasing an additional 50 shares during the period. Finally, Heck Capital Advisors LLC bought a new position in Marriott International during the fourth quarter worth about $38,000. 70.70% of the stock is owned by institutional investors and hedge funds.

Marriott International Stock Performance

MAR traded up $2.43 during trading on Wednesday, reaching $262.15. 785,566 shares of the company's stock were exchanged, compared to its average volume of 1,727,311. The company's fifty day moving average price is $268.95 and its 200-day moving average price is $261.84. Marriott International, Inc. has a fifty-two week low of $205.40 and a fifty-two week high of $307.52. The firm has a market capitalization of $71.80 billion, a PE ratio of 29.84, a P/E/G ratio of 2.48 and a beta of 1.44.

Marriott International (NASDAQ:MAR - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported $2.65 EPS for the quarter, hitting analysts' consensus estimates of $2.65. Marriott International had a net margin of 9.75% and a negative return on equity of 100.64%. The firm had revenue of $6.74 billion during the quarter, compared to analyst estimates of $6.66 billion. During the same quarter in the previous year, the business earned $2.50 EPS. The business's quarterly revenue was up 4.7% compared to the same quarter last year. Research analysts forecast that Marriott International, Inc. will post 10.1 earnings per share for the current fiscal year.

Marriott International Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, May 23rd were given a dividend of $0.67 per share. This is a positive change from Marriott International's previous quarterly dividend of $0.63. This represents a $2.68 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend was Friday, May 23rd. Marriott International's payout ratio is 30.52%.

Insider Transactions at Marriott International

In other news, CEO Anthony Capuano sold 12,000 shares of Marriott International stock in a transaction on 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 transaction, the chief executive officer directly owned 124,067 shares of the company's stock, valued at $32,741,281.30. This trade represents a 8.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Benjamin T. Breland sold 1,000 shares of the business's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $270.21, for a total transaction of $270,210.00. Following the completion of the sale, the executive vice president directly owned 20,724 shares in the company, 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 have sold a total of 15,500 shares of company stock valued at $4,107,710 over the last three months. 10.68% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have commented on MAR. Barclays cut their price target on shares of Marriott International from $283.00 to $236.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 22nd. Stifel Nicolaus cut 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 note on Wednesday, April 16th. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $245.00 price objective (down previously from $313.00) on shares of Marriott International in a report on Monday, April 14th. BMO Capital Markets dropped their price objective on shares of Marriott International from $285.00 to $280.00 and set a "market perform" rating for the company in a report on Wednesday. Finally, JPMorgan Chase & Co. began coverage on shares of Marriott International in a report on Monday, June 23rd. They set a "neutral" rating and a $284.00 price objective for the company. Twelve research 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 stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $280.89.

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.