AE Wealth Management LLC Cuts Stock Holdings in Marriott International, Inc. (NASDAQ:MAR)

AE Wealth Management LLC trimmed its position in shares of Marriott International, Inc. (NASDAQ:MAR - Free Report) by 83.6% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,582 shares of the company's stock after selling 8,057 shares during the period. AE Wealth Management LLC's holdings in Marriott International were worth $377,000 at the end of the most recent quarter.

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

Marriott International Price Performance

NASDAQ MAR traded down $8.48 on Friday, reaching $255.35. The company had a trading volume of 2,496,293 shares, compared to its average volume of 1,288,412. The firm has a market cap of $69.94 billion, a price-to-earnings ratio of 29.08, a P/E/G ratio of 2.53 and a beta of 1.44. Marriott International, Inc. has a fifty-two week low of $204.55 and a fifty-two week high of $307.52. The business has a 50 day moving average of $269.10 and a two-hundred day moving average of $262.32.

Marriott International (NASDAQ:MAR - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $2.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.25 by $0.07. The business had revenue of $6.26 billion for the quarter, compared to analyst estimates of $6.19 billion. Marriott International had a net margin of 9.75% and a negative return on equity of 100.64%. Marriott International's revenue was up 4.8% on a year-over-year basis. During the same period in the prior year, the firm earned $2.13 earnings per share. As a group, research analysts predict that Marriott International, Inc. will post 10.1 earnings per share for the current fiscal year.

Marriott International Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, May 23rd were given a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 1.0%. This is a boost from Marriott International's previous quarterly dividend of $0.63. The ex-dividend date was Friday, May 23rd. Marriott International's dividend payout ratio (DPR) is presently 30.52%.

Analysts Set New Price Targets

MAR has been the topic of several research analyst reports. JPMorgan Chase & Co. initiated coverage on shares of Marriott International in a report on Monday, June 23rd. They set a "neutral" rating and a $284.00 price target on the stock. Melius Research upgraded shares of Marriott International to a "strong-buy" rating in a research note on Monday, April 21st. Jefferies Financial Group raised shares of Marriott International from a "hold" rating to a "buy" rating and raised their price objective for the stock from $226.00 to $303.00 in a report on Monday, May 12th. Truist Financial decreased their price target on shares of Marriott International from $300.00 to $273.00 and set a "hold" rating on the stock in a research note on Friday, May 30th. Finally, 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 note on Wednesday, July 16th. Thirteen investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Marriott International presently has an average rating of "Moderate Buy" and a consensus target price of $276.90.

Insider Buying and Selling

In other news, EVP Benjamin T. Breland sold 1,000 shares of the firm's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $270.21, for a total value of $270,210.00. Following the transaction, the executive vice president 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Anthony Capuano sold 12,000 shares of the business's 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 in the company, valued at approximately $32,741,281.30. The trade was a 8.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,500 shares of company stock worth $4,107,710. Corporate insiders own 10.68% of the company's stock.

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.