Robertson Stephens Wealth Management LLC Raises Stock Position in Marriott International, Inc. (NASDAQ:MAR)

Robertson Stephens Wealth Management LLC boosted its holdings in Marriott International, Inc. (NASDAQ:MAR - Free Report) by 146.0% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 4,367 shares of the company's stock after buying an additional 2,592 shares during the period. Robertson Stephens Wealth Management LLC's holdings in Marriott International were worth $1,040,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Straightline Group LLC bought a new position in shares of Marriott International during the 4th quarter valued at about $495,000. NewEdge Wealth LLC lifted its holdings in shares of Marriott International by 34.4% in the 4th quarter. NewEdge Wealth LLC now owns 4,345 shares of the company's stock valued at $1,212,000 after acquiring an additional 1,112 shares during the last quarter. Markel Group Inc. lifted its holdings in shares of Marriott International by 30.6% in the 4th quarter. Markel Group Inc. now owns 47,000 shares of the company's stock valued at $13,110,000 after acquiring an additional 11,000 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Marriott International by 2.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,477,619 shares of the company's stock valued at $412,167,000 after acquiring an additional 32,288 shares during the last quarter. Finally, JPL Wealth Management LLC bought a new position in shares of Marriott International in the 4th quarter valued at about $463,000. Institutional investors own 70.70% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports 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. Truist Financial decreased their price objective on shares of Marriott International from $300.00 to $273.00 and set a "hold" rating for the company in a research note on Friday, May 30th. Dbs Bank raised shares of Marriott International from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, May 14th. UBS Group decreased their price objective on shares of Marriott International from $302.00 to $299.00 and set a "neutral" rating for the company in a research note on Wednesday, May 21st. Finally, Melius Research raised shares of Marriott International to a "strong-buy" rating in a research report on Monday, April 21st. Thirteen analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Marriott International presently has a consensus rating of "Moderate Buy" and a consensus price target of $275.15.

Insider Activity

In other Marriott International news, EVP Benjamin T. Breland sold 1,000 shares of the company's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $270.21, for a total value of $270,210.00. Following the completion of the transaction, the executive vice president now owns 20,724 shares in the company, valued at approximately $5,599,832.04. This represents a 4.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Anthony Capuano sold 12,000 shares of the company's stock in a transaction dated 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 transaction, the chief executive officer now owns 124,067 shares of the company's stock, valued at approximately $32,741,281.30. This trade 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.

Marriott International Trading Up 0.5%

NASDAQ:MAR opened at $257.53 on Thursday. Marriott International, Inc. has a 12 month low of $204.55 and a 12 month high of $307.52. The firm has a fifty day simple moving average of $251.50 and a 200-day simple moving average of $264.24. The company has a market capitalization of $70.54 billion, a P/E ratio of 29.33, a PEG ratio of 3.17 and a beta of 1.42.

Marriott International (NASDAQ:MAR - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $2.32 EPS for the quarter, topping the consensus estimate of $2.25 by $0.07. Marriott International had a net margin of 9.75% and a negative return on equity of 100.64%. The business had revenue of $6.26 billion during the quarter, compared to the consensus estimate of $6.19 billion. During the same period in the previous year, the firm posted $2.13 earnings per share. The business's revenue for the quarter was up 4.8% compared to the same quarter last year. Equities analysts forecast that Marriott International, Inc. will post 10.1 EPS for the current year.

Marriott International Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, May 23rd will be issued a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 1.04%. The ex-dividend date is Friday, May 23rd. This is a boost from Marriott International's previous quarterly dividend of $0.63. Marriott International's payout ratio is 30.52%.

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.

Want to see what other hedge funds are holding MAR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Marriott International, Inc. (NASDAQ:MAR - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.