Meridian Wealth Management LLC Takes $1.17 Million Position in Marriott International, Inc. (NASDAQ:MAR)

Meridian Wealth Management LLC bought a new position in shares of Marriott International, Inc. (NASDAQ:MAR) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 4,708 shares of the company’s stock, valued at approximately $1,170,000.

A number of other institutional investors have also made changes to their positions in the stock. Harbor Capital Advisors Inc. raised its stake in Marriott International by 0.4% in the third quarter. Harbor Capital Advisors Inc. now owns 8,698 shares of the company’s stock valued at $2,162,000 after buying an additional 38 shares during the period. Haverford Trust Co lifted its holdings in Marriott International by 1.0% during the 3rd quarter. Haverford Trust Co now owns 4,207 shares of the company’s stock valued at $1,046,000 after purchasing an additional 40 shares during the last quarter. Rockland Trust Co. boosted its position in Marriott International by 2.3% during the second quarter. Rockland Trust Co. now owns 1,802 shares of the company’s stock worth $436,000 after purchasing an additional 41 shares during the period. Park Avenue Securities LLC raised its position in shares of Marriott International by 1.4% in the second quarter. Park Avenue Securities LLC now owns 3,298 shares of the company’s stock valued at $797,000 after purchasing an additional 46 shares during the period. Finally, SeaCrest Wealth Management LLC boosted its holdings in shares of Marriott International by 1.5% during the 2nd quarter. SeaCrest Wealth Management LLC now owns 3,075 shares of the company’s stock worth $743,000 after buying an additional 46 shares during the period. 70.70% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. BMO Capital Markets raised their price objective on shares of Marriott International from $255.00 to $265.00 and gave the stock a “market perform” rating in a research report on Tuesday, November 5th. Barclays lifted their price target on Marriott International from $240.00 to $249.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 5th. Morgan Stanley lowered their price objective on Marriott International from $268.00 to $250.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 6th. Wells Fargo & Company boosted their target price on shares of Marriott International from $238.00 to $261.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 22nd. Finally, Sanford C. Bernstein lifted their price objective on shares of Marriott International from $262.00 to $290.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. Thirteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Marriott International presently has an average rating of “Hold” and a consensus price target of $259.00.

Marriott International Price Performance

NASDAQ MAR opened at $284.29 on Friday. Marriott International, Inc. has a fifty-two week low of $200.94 and a fifty-two week high of $289.04. The business has a fifty day moving average price of $261.88 and a two-hundred day moving average price of $243.39. The stock has a market capitalization of $79.00 billion, a PE ratio of 29.74, a PEG ratio of 5.58 and a beta of 1.58.

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

Marriott International Dividend Announcement

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

Insider Transactions at Marriott International

In related news, EVP Benjamin T. Breland sold 500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $274.49, for a total value of $137,245.00. Following the completion of the transaction, the executive vice president now owns 12,286 shares in the company, valued at $3,372,384.14. This trade represents a 3.91 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Anthony Capuano sold 8,332 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $284.49, for a total transaction of $2,370,370.68. Following the completion of the transaction, the chief executive officer now owns 108,361 shares of the company’s stock, valued at approximately $30,827,620.89. This trade represents a 7.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,108 shares of company stock worth $3,434,439. Corporate insiders own 12.32% of the company’s stock.

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.