Trust Point Inc. Sells 1,291 Shares of Marriott International, Inc. (NASDAQ:MAR)

Trust Point Inc. reduced its holdings in Marriott International, Inc. (NASDAQ:MAR - Free Report) by 19.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,499 shares of the company's stock after selling 1,291 shares during the quarter. Trust Point Inc.'s holdings in Marriott International were worth $1,310,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. Hopwood Financial Services Inc. acquired a new position in Marriott International in the fourth quarter valued at approximately $25,000. Bernard Wealth Management Corp. acquired a new stake in shares of Marriott International in the 4th quarter valued at about $25,000. Bell Investment Advisors Inc grew its stake in shares of Marriott International by 112.2% during the 4th quarter. Bell Investment Advisors Inc now owns 104 shares of the company's stock worth $29,000 after acquiring an additional 55 shares in the last quarter. Kapitalo Investimentos Ltda acquired a new stake in Marriott International in the 4th quarter valued at $34,000. Finally, Sound Income Strategies LLC grew its stake in Marriott International by 46.7% in 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 in the last quarter. 70.70% of the stock is currently owned by institutional investors.

Marriott International Trading Up 1.1%

NASDAQ MAR traded up $2.92 during trading on Monday, hitting $257.91. 1,925,665 shares of the company's stock were exchanged, compared to its average volume of 1,604,288. The company has a market cap of $70.64 billion, a PE ratio of 31.00, a P/E/G ratio of 3.42 and a beta of 1.42. Marriott International, Inc. has a fifty-two week low of $204.55 and a fifty-two week high of $307.52. The stock's 50 day moving average price is $249.62 and its two-hundred day moving average price is $264.56.

Marriott International (NASDAQ:MAR - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $2.32 earnings per share for the quarter, beating analysts' consensus estimates of $2.25 by $0.07. Marriott International had a net margin of 9.46% and a negative return on equity of 116.67%. The firm had revenue of $6.26 billion for the quarter, compared to analyst estimates of $6.19 billion. During the same quarter last year, the business posted $2.13 earnings per share. The company's quarterly revenue was up 4.8% on a year-over-year basis. Analysts forecast that Marriott International, Inc. will post 10.1 earnings per share for the current fiscal year.

Marriott International Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, May 23rd will be given a $0.67 dividend. 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 1.04%. The ex-dividend date of this dividend is Friday, May 23rd. Marriott International's dividend payout ratio is 30.52%.

Insider Activity

In related news, EVP Benjamin T. Breland sold 1,000 shares of the business'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 completion of the sale, the executive vice president now directly owns 20,724 shares of the company's stock, valued at $5,599,832.04. The trade was a 4.60% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Anthony Capuano sold 12,000 shares of the business's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $263.90, for a total value of $3,166,800.00. Following the sale, the chief executive officer now owns 124,067 shares of the company's stock, valued at approximately $32,741,281.30. This represents a 8.82% decrease in their position. The disclosure for this sale can be found here. Insiders own 10.68% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. BMO Capital Markets lifted their target price on Marriott International from $250.00 to $265.00 and gave the stock a "market perform" rating in a research note on Wednesday, May 7th. Barclays dropped their price objective on shares of Marriott International from $283.00 to $236.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 22nd. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $245.00 target price (down previously from $313.00) on shares of Marriott International in a report on Monday, April 14th. Truist Financial decreased their target price on Marriott International from $300.00 to $273.00 and set a "hold" rating on the stock in a research report on Friday, May 30th. Finally, Dbs Bank upgraded Marriott International from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, May 14th. Thirteen investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $275.15.

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.