WASHINGTON TRUST Co Has $426,000 Stake in Marriott International, Inc. (NASDAQ:MAR)

WASHINGTON TRUST Co cut its position in shares of Marriott International, Inc. (NASDAQ:MAR - Free Report) by 36.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,788 shares of the company's stock after selling 1,009 shares during the period. WASHINGTON TRUST Co's holdings in Marriott International were worth $426,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. MorganRosel Wealth Management LLC bought a new position in shares of Marriott International in the first quarter worth about $104,000. Valley National Advisers Inc. grew its stake in shares of Marriott International by 1.4% in the 1st quarter. Valley National Advisers Inc. now owns 8,174 shares of the company's stock valued at $1,947,000 after purchasing an additional 115 shares during the period. Kendall Capital Management raised its stake in Marriott International by 10.2% during the first quarter. Kendall Capital Management now owns 5,113 shares of the company's stock worth $1,218,000 after acquiring an additional 475 shares in the last quarter. Amalgamated Bank boosted its position in Marriott International by 0.7% in the first quarter. Amalgamated Bank now owns 45,109 shares of the company's stock valued at $10,745,000 after buying an additional 303 shares in the last quarter. Finally, Essex Financial Services Inc. grew its position in Marriott International by 3.3% during the 1st quarter. Essex Financial Services Inc. now owns 3,104 shares of the company's stock worth $739,000 after acquiring an additional 100 shares during the last quarter. Institutional investors own 70.70% of the company's stock.

Marriott International Price Performance

NASDAQ:MAR traded up $2.56 during trading hours on Friday, reaching $280.08. 623,225 shares of the company were exchanged, compared to its average volume of 1,591,562. The company has a market capitalization of $76.71 billion, a P/E ratio of 31.90, a P/E/G ratio of 3.45 and a beta of 1.41. Marriott International, Inc. has a 1-year low of $204.55 and a 1-year high of $307.52. The business has a 50 day moving average of $261.75 and a 200 day moving average of $262.78.

Marriott International (NASDAQ:MAR - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $2.32 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $6.19 billion. During the same period last year, the firm posted $2.13 earnings per share. The firm's quarterly revenue was up 4.8% compared to the same quarter last year. As a group, equities research analysts anticipate 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. Shareholders of record on Friday, May 23rd were given a $0.67 dividend. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $2.68 dividend on an annualized basis and a yield of 0.96%. This is a positive change from Marriott International's previous quarterly dividend of $0.63. Marriott International's dividend payout ratio (DPR) is currently 30.52%.

Insider Activity at Marriott International

In other news, insider Rajeev Menon sold 2,500 shares of the stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $268.28, for a total value of $670,700.00. Following the completion of the sale, the insider owned 5,706 shares of the company's stock, valued at approximately $1,530,805.68. This represents a 30.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Anthony Capuano sold 12,000 shares of the firm's stock in a transaction that occurred on 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 transaction, the chief executive officer owned 124,067 shares of the company's stock, valued at approximately $32,741,281.30. The trade was a 8.82% decrease in their position. 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 in the last 90 days. 10.68% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Melius Research upgraded shares of Marriott International to a "strong-buy" rating in a research report on Monday, April 21st. JPMorgan Chase & Co. assumed coverage on shares of Marriott International in a report on Monday, June 23rd. They issued a "neutral" rating and a $284.00 price target for the company. Mizuho cut their price target on shares of Marriott International from $293.00 to $285.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 7th. The Goldman Sachs Group reissued a "neutral" rating and issued a $245.00 target price (down previously from $313.00) on shares of Marriott International in a research report on Monday, April 14th. Finally, Barclays decreased their price objective on Marriott International from $283.00 to $236.00 and set an "equal weight" rating for the company in a report on Tuesday, April 22nd. Thirteen research 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 stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $275.90.

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.