Provence Wealth Management Group Sells 280 Shares of Marriott International, Inc. (NASDAQ:MAR)

Provence Wealth Management Group reduced its position in shares of Marriott International, Inc. (NASDAQ:MAR) by 48.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 300 shares of the company’s stock after selling 280 shares during the period. Provence Wealth Management Group’s holdings in Marriott International were worth $68,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. ORG Partners LLC lifted its position in Marriott International by 72.6% during the 4th quarter. ORG Partners LLC now owns 126 shares of the company’s stock worth $29,000 after buying an additional 53 shares in the last quarter. Keener Financial Planning LLC acquired a new stake in shares of Marriott International in the fourth quarter valued at approximately $30,000. OFI Invest Asset Management bought a new position in Marriott International in the 3rd quarter worth approximately $25,000. Anchor Investment Management LLC acquired a new position in Marriott International during the 4th quarter worth $31,000. Finally, Wetzel Investment Advisors Inc. acquired a new stake in shares of Marriott International in the 4th quarter valued at $33,000. 70.70% of the stock is owned by institutional investors.

Marriott International Stock Down 0.4 %

Shares of NASDAQ MAR traded down $0.97 during trading hours on Friday, hitting $234.59. The company had a trading volume of 1,572,856 shares, compared to its average volume of 1,539,790. The firm’s 50 day moving average is $247.40 and its 200-day moving average is $228.39. Marriott International, Inc. has a 1-year low of $165.13 and a 1-year high of $260.57. The stock has a market capitalization of $67.00 billion, a P/E ratio of 24.21, a price-to-earnings-growth ratio of 5.24 and a beta of 1.61.

Marriott International (NASDAQ:MAR) last issued its earnings results on Wednesday, May 1st. The company reported $2.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.17 by ($0.04). The firm had revenue of $5.98 billion during the quarter, compared to analyst estimates of $5.95 billion. Marriott International had a net margin of 12.00% and a negative return on equity of 376.88%. The company’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter last year, the business posted $2.09 earnings per share. On average, sell-side analysts predict that Marriott International, Inc. will post 9.49 earnings per share for the current year.

Marriott International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors 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 of this dividend was Wednesday, February 21st. Marriott International’s dividend payout ratio (DPR) is presently 21.47%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on MAR shares. Truist Financial upped 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 raised their target price on shares of Marriott International from $235.00 to $240.00 and gave the company a “market perform” rating in a research note on Thursday. Mizuho increased their price objective on shares of Marriott International from $260.00 to $265.00 and gave the company a “neutral” rating in a report on Thursday. Wells Fargo & Company cut their price target on Marriott International from $250.00 to $248.00 and set an “equal weight” rating on the stock in a research note on Thursday. Finally, Barclays lifted their price objective on Marriott International from $239.00 to $240.00 and gave the stock an “equal weight” rating in a research note on Friday, April 19th. Eleven analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Marriott International presently has an average rating of “Hold” and a consensus target price of $241.33.

Insiders Place Their Bets

In other news, insider Deborah Marriott Harrison sold 37,300 shares of the firm’s stock in a transaction dated 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Marriott International news, insider Satyajit Anand sold 2,749 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $251.93, for a total transaction of $692,555.57. Following the transaction, the insider now owns 24,478 shares in the company, valued at approximately $6,166,742.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Deborah Marriott Harrison sold 37,300 shares of the business’s stock in a transaction dated 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 directly owns 9,100 shares of the company’s stock, valued at approximately $2,197,286. The disclosure for this sale can be found here. Insiders sold a total of 125,003 shares of company stock valued at $30,435,493 over the last ninety days. 12.32% of the stock is currently owned by company insiders.

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.