Palisades Hudson Asset Management L.P. lessened its position in shares of Marriott International Inc (NASDAQ:MAR) by 7.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,325 shares of the company’s stock after selling 192 shares during the period. Palisades Hudson Asset Management L.P.’s holdings in Marriott International were worth $326,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Meridian Wealth Management LLC bought a new stake in shares of Marriott International in the second quarter valued at approximately $25,000. Strategy Asset Managers LLC bought a new stake in shares of Marriott International in the first quarter valued at approximately $29,000. Harvest Group Wealth Management LLC bought a new stake in shares of Marriott International in the first quarter valued at approximately $30,000. NuWave Investment Management LLC boosted its stake in shares of Marriott International by 373.9% in the second quarter. NuWave Investment Management LLC now owns 218 shares of the company’s stock valued at $31,000 after buying an additional 172 shares during the period. Finally, TLW Wealth Management LLC bought a new stake in shares of Marriott International in the second quarter valued at approximately $31,000. Institutional investors own 62.91% of the company’s stock.
Shares of MAR stock traded up $2.12 on Friday, reaching $132.46. 2,236,278 shares of the company were exchanged, compared to its average volume of 1,678,719. The stock has a market capitalization of $44.11 billion, a P/E ratio of 21.33, a price-to-earnings-growth ratio of 2.87 and a beta of 1.27. The firm has a 50-day simple moving average of $138.65. The company has a current ratio of 0.51, a quick ratio of 0.47 and a debt-to-equity ratio of 8.93. Marriott International Inc has a one year low of $100.62 and a one year high of $144.24.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Thursday, August 22nd will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.45%. Marriott International’s dividend payout ratio (DPR) is presently 30.92%.
In other Marriott International news, Director Margaret M. Mccarthy bought 2,000 shares of the stock in a transaction that occurred on Tuesday, May 14th. The shares were bought at an average price of $130.83 per share, for a total transaction of $261,660.00. Following the acquisition, the director now directly owns 2,000 shares of the company’s stock, valued at approximately $261,660. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Argiris Kyriakidis sold 20,210 shares of the company’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $128.79, for a total transaction of $2,602,845.90. The disclosure for this sale can be found here. Insiders have sold a total of 80,004 shares of company stock worth $10,676,926 in the last three months. Insiders own 12.60% of the company’s stock.
Several brokerages have commented on MAR. Longbow Research downgraded shares of Marriott International from a “buy” rating to a “neutral” rating in a research report on Monday, July 15th. Wells Fargo & Co increased their price objective on Marriott International from $123.00 to $141.00 and gave the company a “market perform” rating in a report on Wednesday, April 24th. Citigroup upped their price target on shares of Marriott International from $117.00 to $135.00 and gave the company a “neutral” rating in a research report on Tuesday, May 21st. Morgan Stanley upped their price target on shares of Marriott International from $123.00 to $125.00 and gave the company an “equal weight” rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. cut shares of Marriott International from an “overweight” rating to a “neutral” rating and set a $138.00 price target on the stock. in a research report on Tuesday, July 9th. They noted that the move was a valuation call. Eleven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Marriott International has a consensus rating of “Hold” and a consensus price target of $136.93.
About Marriott International
Marriott International, Inc operates, franchises, and licenses hotel, residential, and timeshare properties worldwide. The company operates through North American Full-Service, North American Limited-Service, and Asia Pacific segments. It operates its properties under the JW Marriott, The Ritz-Carlton, Ritz-Carlton Reserve, W Hotels, The Luxury Collection, St.
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