Spire Wealth Management Trims Stake in Marriott International, Inc. (NASDAQ:MAR)

Spire Wealth Management reduced its position in Marriott International, Inc. (NASDAQ:MAR) by 1.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 50,669 shares of the company’s stock after selling 781 shares during the period. Spire Wealth Management’s holdings in Marriott International were worth $11,840,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MAR. Grove Bank & Trust grew its position in Marriott International by 3.4% during the 4th quarter. Grove Bank & Trust now owns 1,307 shares of the company’s stock worth $295,000 after purchasing an additional 43 shares during the period. Argus Investors Counsel Inc. raised its position in Marriott International by 0.6% during the fourth quarter. Argus Investors Counsel Inc. now owns 7,731 shares of the company’s stock valued at $1,743,000 after acquiring an additional 45 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its holdings in Marriott International by 2.8% in the fourth quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 1,673 shares of the company’s stock valued at $377,000 after acquiring an additional 45 shares during the period. LGL Partners LLC grew its stake in shares of Marriott International by 1.9% during the 4th quarter. LGL Partners LLC now owns 2,630 shares of the company’s stock worth $593,000 after purchasing an additional 50 shares during the period. Finally, ORG Partners LLC increased its holdings in shares of Marriott International by 72.6% during the 4th quarter. ORG Partners LLC now owns 126 shares of the company’s stock valued at $29,000 after purchasing an additional 53 shares in the last quarter. 70.70% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently commented on MAR shares. Barclays raised their price target on shares of Marriott International from $239.00 to $240.00 and gave the company an “equal weight” rating in a research report on Friday, April 19th. Truist Financial lifted their price target on Marriott International from $233.00 to $263.00 and gave the company a “hold” rating in a research note on Wednesday, February 14th. BMO Capital Markets increased their price target on Marriott International from $235.00 to $240.00 and gave the stock a “market perform” rating in a research report on Thursday. Argus upped their target price on Marriott International from $270.00 to $280.00 and gave the stock a “buy” rating in a research note on Tuesday, March 19th. Finally, UBS Group upped their price objective on shares of Marriott International from $210.00 to $259.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 28th. Eleven analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $241.33.

Insider Activity

In other news, insider Deborah Marriott Harrison sold 37,300 shares of the business’s stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $241.46, for a total transaction of $9,006,458.00. Following the completion of the sale, the insider now owns 9,100 shares in the company, valued at approximately $2,197,286. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Deborah Marriott Harrison sold 37,300 shares of the company’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $241.46, for a total value of $9,006,458.00. Following the completion of the sale, the insider now directly owns 9,100 shares of the company’s stock, valued at approximately $2,197,286. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Eric Hippeau sold 1,400 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $251.19, for a total value of $351,666.00. Following the completion of the sale, the director now owns 72 shares of the company’s stock, valued at approximately $18,085.68. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 125,003 shares of company stock worth $30,435,493. 12.32% of the stock is currently owned by insiders.

Marriott International Trading Down 0.4 %

Marriott International stock traded down $0.97 during midday trading on Friday, reaching $234.59. 1,572,856 shares of the stock traded hands, compared to its average volume of 1,539,790. The firm has a market cap of $67.00 billion, a PE ratio of 24.21, a price-to-earnings-growth ratio of 5.21 and a beta of 1.61. Marriott International, Inc. has a 12-month low of $165.13 and a 12-month high of $260.57. The company has a 50-day simple moving average of $247.40 and a two-hundred day simple moving average of $228.85.

Marriott International (NASDAQ:MAR) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $2.13 earnings per share for the quarter, missing the consensus estimate of $2.17 by ($0.04). Marriott International had a negative return on equity of 376.88% and a net margin of 12.00%. The company had revenue of $5.98 billion for the quarter, compared to analysts’ expectations of $5.95 billion. During the same quarter last year, the company earned $2.09 EPS. Marriott International’s revenue for the quarter was up 6.4% compared to the same quarter last year. Equities research analysts anticipate that Marriott International, Inc. will post 9.5 earnings per share for the current year.

Marriott International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Thursday, February 22nd were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date was Wednesday, February 21st. Marriott International’s dividend payout ratio is presently 21.47%.

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, and City Express by Marriott brand names, as well as operates residences, timeshares, and yachts.