Empower Advisory Group LLC Reduces Stock Holdings in Marriott International, Inc. (NASDAQ:MAR)

Key Points

• Empower Advisory Group LLC reduced its stake in Marriott International by 3.0% during Q1, holding 58,706 shares valued at approximately $13.98 million after the sale.
• Marriott International's earnings per share (EPS) for the last quarter was $2.65, matching analysts' expectations, while revenues grew by 4.7% year-over-year.
• The company recently increased its quarterly dividend to $0.67 per share, which represents an annual yield of 1.0% and signifies a rise from the previous dividend of $0.63.

Empower Advisory Group LLC reduced its holdings in Marriott International, Inc. (NASDAQ:MAR - Free Report) by 3.0% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 58,706 shares of the company's stock after selling 1,833 shares during the period. Empower Advisory Group LLC's holdings in Marriott International were worth $13,984,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of MAR. Bernard Wealth Management Corp. acquired a new position in Marriott International during the fourth quarter valued at approximately $25,000. Morse Asset Management Inc acquired a new position in shares of Marriott International during the first quarter valued at $30,000. Kapitalo Investimentos Ltda acquired a new position in shares of Marriott International during the fourth quarter valued at approximately $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 valued at $37,000 after purchasing an additional 50 shares during the last quarter. Finally, Heck Capital Advisors LLC acquired a new position in shares of Marriott International in the 4th quarter worth $38,000. 70.70% of the stock is owned by institutional investors.

Marriott International Stock Performance

Shares of NASDAQ MAR traded down $2.12 during trading on Thursday, hitting $260.59. 1,695,849 shares of the company traded hands, compared to its average volume of 1,531,594. The business's fifty day moving average is $268.85 and its 200 day moving average is $261.73. The firm has a market capitalization of $70.74 billion, a price-to-earnings ratio of 29.38, a P/E/G ratio of 2.51 and a beta of 1.44. Marriott International, Inc. has a fifty-two week low of $205.40 and a fifty-two week high of $307.52.

Marriott International (NASDAQ:MAR - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $2.65 earnings per share for the quarter, hitting analysts' consensus estimates of $2.65. The company had revenue of $6.74 billion for the quarter, compared to analyst estimates of $6.66 billion. Marriott International had a negative return on equity of 93.44% and a net margin of 9.60%. Marriott International's revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the prior year, the firm earned $2.50 earnings per share. On average, analysts predict that Marriott International, Inc. will post 10.1 EPS for the current year.

Marriott International announced that its board has authorized a stock repurchase plan on Thursday, August 7th that authorizes the company to repurchase 25,000,000 outstanding shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership believes its stock is undervalued.

Marriott International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Thursday, August 21st will be issued a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 1.0%. Marriott International's dividend payout ratio (DPR) is presently 30.21%.

Insider Buying and Selling

In other Marriott International news, EVP Benjamin T. Breland sold 1,000 shares of the firm's stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $270.21, for a total value of $270,210.00. Following the sale, 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Rajeev Menon sold 2,500 shares of the firm's stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $268.28, for a total value of $670,700.00. Following the sale, the insider owned 5,706 shares in the company, valued at $1,530,805.68. The trade was a 30.47% 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 worth $4,107,710. Insiders own 10.68% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on MAR shares. Jefferies Financial Group raised shares of Marriott International from a "hold" rating to a "buy" rating and increased their price target for the stock from $226.00 to $303.00 in a research report on Monday, May 12th. Robert W. Baird raised their target price on Marriott International from $265.00 to $285.00 and gave the company a "neutral" rating in a report on Wednesday, July 16th. Melius Research raised shares of Marriott International to a "strong-buy" rating in a report on Monday, April 21st. JPMorgan Chase & Co. assumed coverage on Marriott International in a report on Monday, June 23rd. They issued a "neutral" rating and a $284.00 target price for the company. Finally, Barclays dropped their target price on shares of Marriott International from $283.00 to $236.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 22nd. Twelve equities research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $280.89.

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.