Pictet Asset Management Holding SA Trims Holdings in Marriott International, Inc. (NASDAQ:MAR)

Pictet Asset Management Holding SA cut its holdings in Marriott International, Inc. (NASDAQ:MAR) by 4.6% during the fourth quarter, HoldingsChannel reports. The firm owned 810,050 shares of the company’s stock after selling 38,885 shares during the period. Pictet Asset Management Holding SA’s holdings in Marriott International were worth $225,955,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank purchased a new position in Marriott International in the 4th quarter valued at $580,922,000. Raymond James Financial Inc. purchased a new stake in shares of Marriott International in the fourth quarter valued at about $165,162,000. PointState Capital LP purchased a new position in Marriott International during the third quarter worth about $98,249,000. Proficio Capital Partners LLC lifted its position in Marriott International by 36,564.5% in the fourth quarter. Proficio Capital Partners LLC now owns 360,779 shares of the company’s stock valued at $100,636,000 after purchasing an additional 359,795 shares during the period. Finally, Assenagon Asset Management S.A. increased its position in Marriott International by 341.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 381,226 shares of the company’s stock worth $106,339,000 after purchasing an additional 294,898 shares during the period. 70.70% of the stock is owned by hedge funds and other institutional investors.

Marriott International Stock Performance

MAR opened at $244.45 on Friday. Marriott International, Inc. has a 1 year low of $204.55 and a 1 year high of $307.52. The company’s 50 day simple moving average is $273.13 and its 200 day simple moving average is $270.25. The stock has a market capitalization of $67.39 billion, a PE ratio of 29.38, a P/E/G ratio of 3.42 and a beta of 1.58.

Marriott International (NASDAQ:MAR) last released its quarterly earnings data on Tuesday, February 11th. The company reported $2.45 EPS for the quarter, topping analysts’ consensus estimates of $2.37 by $0.08. Marriott International had a negative return on equity of 116.67% and a net margin of 9.46%. As a group, sell-side analysts expect that Marriott International, Inc. will post 10.1 earnings per share for the current fiscal year.

Marriott International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, February 27th will be issued a $0.63 dividend. The ex-dividend date is Thursday, February 27th. This represents a $2.52 annualized dividend and a yield of 1.03%. Marriott International’s payout ratio is 30.29%.

Insider Transactions at Marriott International

In other Marriott International news, CFO Kathleen K. Oberg sold 14,498 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $278.07, for a total value of $4,031,458.86. Following the completion of the sale, the chief financial officer now owns 14,282 shares of the company’s stock, valued at $3,971,395.74. This trade represents a 50.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Rena Hozore Reiss sold 3,500 shares of the company’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $286.65, for a total transaction of $1,003,275.00. Following the completion of the transaction, the executive vice president now owns 24,733 shares of the company’s stock, valued at $7,089,714.45. This trade represents a 12.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 31,694 shares of company stock valued at $8,938,132 over the last 90 days. Corporate insiders own 12.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on MAR shares. Truist Financial dropped their price objective on Marriott International from $308.00 to $300.00 and set a “hold” rating on the stock in a report on Friday, March 21st. Argus boosted their price objective on shares of Marriott International from $300.00 to $330.00 and gave the stock a “buy” rating in a report on Thursday, January 16th. Wells Fargo & Company dropped their target price on shares of Marriott International from $285.00 to $277.00 and set an “equal weight” rating for the company in a report on Tuesday, February 18th. UBS Group boosted their price target on Marriott International from $294.00 to $301.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 12th. Finally, Morgan Stanley lifted their price objective on Marriott International from $289.00 to $298.00 and gave the stock an “overweight” rating in a report on Tuesday, March 4th. Thirteen research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $286.05.

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, City Express by Marriott, and St.