Summit Financial LLC Has $1.61 Million Holdings in Marriott International, Inc. (NASDAQ:MAR)

Summit Financial LLC reduced its position in Marriott International, Inc. (NASDAQ:MAR) by 30.4% in the 4th quarter, Holdings Channel reports. The firm owned 5,765 shares of the company’s stock after selling 2,520 shares during the quarter. Summit Financial LLC’s holdings in Marriott International were worth $1,608,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of MAR. Hopwood Financial Services Inc. bought a new stake in shares of Marriott International in the 4th quarter valued at approximately $25,000. Bell Investment Advisors Inc grew its position in Marriott International by 112.2% in the fourth quarter. Bell Investment Advisors Inc now owns 104 shares of the company’s stock valued at $29,000 after acquiring an additional 55 shares during the period. Sound Income Strategies LLC lifted its holdings in shares of Marriott International by 494.4% during the fourth quarter. Sound Income Strategies LLC now owns 107 shares of the company’s stock valued at $30,000 after acquiring an additional 89 shares during the period. Wingate Wealth Advisors Inc. acquired a new stake in shares of Marriott International in the 4th quarter valued at $33,000. Finally, ORG Partners LLC grew its holdings in shares of Marriott International by 158.5% in the 4th quarter. ORG Partners LLC now owns 137 shares of the company’s stock worth $38,000 after purchasing an additional 84 shares during the last quarter. Institutional investors and hedge funds own 70.70% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Kathleen K. Oberg sold 14,498 shares of the stock in a transaction on Friday, February 21st. The shares were sold at an average price of $278.07, for a total transaction 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 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 at this hyperlink. Also, EVP Rena Hozore Reiss sold 3,500 shares of the business’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 sale, the executive vice president now directly owns 24,733 shares in the company, valued at $7,089,714.45. This 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 worth $8,938,132 over the last ninety days. 12.32% of the stock is currently owned by corporate insiders.

Marriott International Trading Up 0.0 %

NASDAQ:MAR opened at $238.24 on Wednesday. The firm has a market capitalization of $65.68 billion, a price-to-earnings ratio of 28.63, a PEG ratio of 3.42 and a beta of 1.58. Marriott International, Inc. has a 1-year low of $204.55 and a 1-year high of $307.52. The business’s 50-day moving average price is $270.75 and its two-hundred day moving average price is $271.02.

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

Marriott International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Thursday, February 27th were issued a dividend of $0.63 per share. The ex-dividend date was Thursday, February 27th. This represents a $2.52 annualized dividend and a yield of 1.06%. Marriott International’s dividend payout ratio is presently 30.29%.

Wall Street Analyst Weigh In

Several analysts have weighed in on MAR shares. Susquehanna upped their price objective on shares of Marriott International from $255.00 to $285.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 12th. Argus raised their price target on Marriott International from $300.00 to $330.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Barclays reduced their price objective on Marriott International from $287.00 to $283.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 12th. UBS Group lifted their price target on Marriott International from $294.00 to $301.00 and gave the company a “neutral” rating in a report on Wednesday, February 12th. Finally, Wells Fargo & Company lowered their price objective on shares of Marriott International from $285.00 to $277.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 18th. Thirteen equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $286.05.

About Marriott International

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.