Advisors Asset Management Inc. Sells 697 Shares of Marriott International, Inc. (NASDAQ:MAR)

Advisors Asset Management Inc. trimmed its position in shares of Marriott International, Inc. (NASDAQ:MAR) by 3.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 19,134 shares of the company’s stock after selling 697 shares during the period. Advisors Asset Management Inc.’s holdings in Marriott International were worth $4,757,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bangor Savings Bank grew its position in Marriott International by 131.1% during the 2nd quarter. Bangor Savings Bank now owns 104 shares of the company’s stock worth $25,000 after acquiring an additional 59 shares during the last quarter. Hantz Financial Services Inc. bought a new stake in Marriott International during the 2nd quarter worth approximately $26,000. MFA Wealth Advisors LLC bought a new stake in Marriott International during the 2nd quarter worth approximately $28,000. Silvant Capital Management LLC bought a new stake in Marriott International during the 3rd quarter worth approximately $31,000. Finally, Unique Wealth Strategies LLC bought a new stake in Marriott International during the 2nd quarter worth approximately $35,000. 70.70% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CAO Felitia Lee sold 916 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $276.48, for a total transaction of $253,255.68. Following the completion of the sale, the chief accounting officer now directly owns 5,609 shares of the company’s stock, valued at $1,550,776.32. The trade was a 14.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Benjamin T. Breland sold 500 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $274.49, for a total transaction of $137,245.00. Following the sale, the executive vice president now directly owns 12,286 shares of the company’s stock, valued at approximately $3,372,384.14. The trade was a 3.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 12,108 shares of company stock worth $3,434,439. Company insiders own 12.32% of the company’s stock.

Marriott International Price Performance

Shares of NASDAQ:MAR opened at $283.23 on Friday. The stock has a market capitalization of $78.71 billion, a price-to-earnings ratio of 29.63, a price-to-earnings-growth ratio of 5.49 and a beta of 1.58. The company’s 50 day simple moving average is $260.83 and its 200 day simple moving average is $243.01. Marriott International, Inc. has a 1 year low of $200.94 and a 1 year high of $289.04.

Marriott International (NASDAQ:MAR) last issued its quarterly earnings results on Monday, November 4th. The company reported $2.26 EPS for the quarter, missing analysts’ consensus estimates of $2.31 by ($0.05). The business had revenue of $6.26 billion for the quarter, compared to analyst estimates of $6.27 billion. Marriott International had a negative return on equity of 177.91% and a net margin of 11.18%. Marriott International’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter last year, the firm posted $2.11 EPS. As a group, analysts anticipate that Marriott International, Inc. will post 9.26 EPS for the current fiscal year.

Marriott International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Thursday, November 21st will be issued a $0.63 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $2.52 annualized dividend and a yield of 0.89%. Marriott International’s payout ratio is 26.36%.

Analyst Ratings Changes

Several research analysts have issued reports on the company. UBS Group reduced their price objective on Marriott International from $267.00 to $244.00 and set a “neutral” rating on the stock in a report on Tuesday, August 13th. Deutsche Bank Aktiengesellschaft reduced their price objective on Marriott International from $222.00 to $216.00 and set a “hold” rating on the stock in a report on Thursday, August 1st. Macquarie reaffirmed a “neutral” rating and set a $245.00 price objective on shares of Marriott International in a report on Tuesday, November 5th. Sanford C. Bernstein upped their price objective on Marriott International from $262.00 to $290.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Finally, Truist Financial cut their price target on Marriott International from $263.00 to $254.00 and set a “hold” rating on the stock in a research note on Tuesday, August 6th. Thirteen research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $259.00.

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.