Marriott International, Inc. (NASDAQ:MAR) Shares Sold by Sumitomo Life Insurance Co.

Sumitomo Life Insurance Co. reduced its stake in shares of Marriott International, Inc. (NASDAQ:MAR) by 4.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,640 shares of the company’s stock after selling 388 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Marriott International were worth $1,723,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. OFI Invest Asset Management acquired a new stake in shares of Marriott International during the 3rd quarter valued at about $25,000. Resurgent Financial Advisors LLC acquired a new stake in Marriott International in the fourth quarter valued at approximately $25,000. ICA Group Wealth Management LLC acquired a new position in shares of Marriott International during the 4th quarter worth approximately $28,000. Coppell Advisory Solutions Corp. purchased a new position in shares of Marriott International during the 4th quarter valued at approximately $28,000. Finally, ORG Partners LLC grew its stake in Marriott International by 72.6% in the 4th quarter. ORG Partners LLC now owns 126 shares of the company’s stock valued at $29,000 after acquiring an additional 53 shares during the period. 70.70% of the stock is owned by institutional investors and hedge funds.

Marriott International Stock Performance

MAR stock opened at $251.06 on Monday. The firm’s 50 day moving average price is $248.88 and its 200-day moving average price is $224.25. The firm has a market cap of $72.55 billion, a PE ratio of 24.64, a PEG ratio of 1.83 and a beta of 1.62. Marriott International, Inc. has a one year low of $161.71 and a one year high of $260.57.

Marriott International (NASDAQ:MAR) last announced its earnings results on Tuesday, February 13th. The company reported $3.57 earnings per share for the quarter, topping the consensus estimate of $2.12 by $1.45. The company had revenue of $6.10 billion during the quarter, compared to analyst estimates of $6.20 billion. Marriott International had a net margin of 13.00% and a negative return on equity of 848.49%. Marriott International’s revenue was up 2.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.96 earnings per share. Equities research analysts predict that Marriott International, Inc. will post 9.46 EPS for the current fiscal year.

Marriott International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Thursday, February 22nd were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Wednesday, February 21st. This represents a $2.08 annualized dividend and a dividend yield of 0.83%. Marriott International’s dividend payout ratio is currently 20.41%.

Insider Activity

In related news, Director Eric Hippeau sold 1,400 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $251.19, for a total transaction of $351,666.00. Following the completion of the transaction, the director now directly owns 72 shares in the company, valued at approximately $18,085.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Eric Hippeau sold 1,400 shares of the stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $251.19, for a total value of $351,666.00. Following the sale, the director now directly owns 72 shares in the company, valued at $18,085.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Kathleen K. Oberg sold 47,109 shares of the company’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $242.71, for a total value of $11,433,825.39. Following the sale, the chief financial officer now owns 20,036 shares in the company, valued at approximately $4,862,937.56. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 125,003 shares of company stock valued at $30,435,493. 10.07% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

MAR has been the topic of several recent analyst reports. BMO Capital Markets increased their price objective on shares of Marriott International from $230.00 to $235.00 and gave the company a “market perform” rating in a report on Wednesday, February 14th. Mizuho initiated coverage on Marriott International in a research note on Tuesday, March 26th. They set a “neutral” rating and a $263.00 price objective for the company. Robert W. Baird decreased their target price on Marriott International from $250.00 to $248.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 14th. Truist Financial increased their price objective on Marriott International from $233.00 to $263.00 and gave the company a “hold” rating in a research note on Wednesday, February 14th. Finally, Wells Fargo & Company upped their target price on shares of Marriott International from $234.00 to $250.00 and gave the stock an “equal weight” rating in a report on Monday, March 18th. Eleven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $236.81.

Marriott International 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.