Frank Rimerman Advisors LLC Sells 3,398 Shares of Marriott International, Inc. (NASDAQ:MAR)

Frank Rimerman Advisors LLC lowered its position in Marriott International, Inc. (NASDAQ:MAR) by 49.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 3,442 shares of the company’s stock after selling 3,398 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Marriott International were worth $960,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MAR. Greykasell Wealth Strategies Inc. bought a new position in Marriott International in the 4th quarter worth approximately $1,012,000. Atala Financial Inc purchased a new stake in Marriott International in the 4th quarter worth approximately $3,846,000. JPL Wealth Management LLC purchased a new position in shares of Marriott International during the 4th quarter valued at $463,000. Commonwealth Equity Services LLC raised its position in shares of Marriott International by 1.5% in the fourth quarter. Commonwealth Equity Services LLC now owns 122,506 shares of the company’s stock worth $34,172,000 after buying an additional 1,847 shares in the last quarter. Finally, Lazard Freres Gestion S.A.S. purchased a new position in Marriott International during the fourth quarter worth about $19,409,000. 70.70% of the stock is currently owned by institutional investors.

Marriott International Stock Up 2.5 %

MAR opened at $243.11 on Friday. The stock has a market cap of $67.02 billion, a PE ratio of 29.22, a PEG ratio of 3.42 and a beta of 1.58. The business has a 50 day moving average of $278.37 and a 200-day moving average of $269.66. Marriott International, Inc. has a 52 week low of $204.55 and a 52 week high of $307.52.

Marriott International (NASDAQ:MAR) last issued its quarterly earnings results on Tuesday, February 11th. The company reported $2.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.37 by $0.08. Marriott International had a net margin of 9.46% and a negative return on equity of 116.67%. Equities analysts anticipate that Marriott International, Inc. will post 10.1 EPS for the current year.

Marriott International Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, February 27th will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 1.04%. The ex-dividend date is Thursday, February 27th. Marriott International’s dividend payout ratio (DPR) is 30.29%.

Wall Street Analysts Forecast Growth

MAR has been the subject of a number of research analyst reports. Truist Financial lifted their price target on Marriott International from $277.00 to $308.00 and gave the company a “hold” rating in a research report on Wednesday, February 12th. Barclays decreased their price target on shares of Marriott International from $287.00 to $283.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 12th. Wells Fargo & Company cut 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 research report on Tuesday, February 18th. Morgan Stanley lifted their price target on Marriott International from $289.00 to $298.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 4th. Finally, Stifel Nicolaus increased their price objective on Marriott International from $252.00 to $283.00 and gave the company a “hold” rating in a research report on Tuesday, November 26th. Thirteen equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $286.45.

Insider Activity

In other news, Director Susan C. Schwab sold 1,054 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $277.48, for a total value of $292,463.92. Following the transaction, the director now directly owns 4,551 shares in the company, valued at $1,262,811.48. This trade represents a 18.80 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider William P. Brown sold 12,642 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $285.63, for a total value of $3,610,934.46. Following the completion of the transaction, the insider now directly owns 30,919 shares in the company, valued at approximately $8,831,393.97. This represents a 29.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 31,694 shares of company stock worth $8,938,132 over the last 90 days. 12.32% of the stock is currently owned by insiders.

Marriott International Company 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.