Palisades Hudson Asset Management L.P. Sells 192 Shares of Marriott International Inc (NASDAQ:MAR)

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.

Marriott International (NASDAQ:MAR) last released its quarterly earnings data on Monday, August 5th. The company reported $1.56 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $1.56. The company had revenue of $5.31 billion for the quarter, compared to analysts’ expectations of $5.50 billion. Marriott International had a net margin of 6.81% and a return on equity of 113.75%. The business’s revenue was down 1.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.73 EPS. Equities research analysts predict that Marriott International Inc will post 6.03 EPS for the current fiscal year.

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.

Featured Story: The limitations of an equal weight rating

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).

Institutional Ownership by Quarter for Marriott International (NASDAQ:MAR)

Receive News & Ratings for Marriott International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Marriott International and related companies with MarketBeat.com's FREE daily email newsletter.