ICICI Prudential Asset Management Co Ltd Reduces Holdings in Marriott International, Inc. (NASDAQ:MAR)

ICICI Prudential Asset Management Co Ltd decreased its position in Marriott International, Inc. (NASDAQ:MAR) by 1.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,618 shares of the company’s stock after selling 57 shares during the period. ICICI Prudential Asset Management Co Ltd’s holdings in Marriott International were worth $1,009,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Sound Income Strategies LLC grew its stake in shares of Marriott International by 494.4% in the 4th quarter. Sound Income Strategies LLC now owns 107 shares of the company’s stock valued at $30,000 after buying an additional 89 shares during the period. Silvant Capital Management LLC purchased a new stake in shares of Marriott International in the 3rd quarter valued at approximately $31,000. Darwin Wealth Management LLC purchased a new position in shares of Marriott International during the 3rd quarter worth approximately $33,000. Wingate Wealth Advisors Inc. purchased a new position in shares of Marriott International during the 4th quarter worth approximately $33,000. Finally, ORG Partners LLC boosted its position in shares of Marriott International by 158.5% during 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 period. Hedge funds and other institutional investors own 70.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on MAR shares. JPMorgan Chase & Co. increased their price objective on shares of Marriott International from $251.00 to $269.00 and gave the stock a “neutral” rating in a research report on Friday, December 13th. Sanford C. Bernstein increased their target price on shares of Marriott International from $262.00 to $290.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Jefferies Financial Group increased their target price on shares of Marriott International from $251.00 to $295.00 and gave the stock a “hold” rating in a report on Thursday, January 2nd. Susquehanna increased their target price on shares of Marriott International from $255.00 to $285.00 and gave the stock a “neutral” rating in a report on Wednesday, February 12th. Finally, Macquarie reiterated a “neutral” rating and set a $245.00 target price on shares of Marriott International in a report on Tuesday, November 5th. Thirteen investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Marriott International currently has a consensus rating of “Hold” and an average price target of $284.05.

Insider Activity

In related news, insider William P. Brown sold 1,707 shares of the business’s stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $284.30, for a total transaction of $485,300.10. Following the sale, the insider now owns 23,077 shares of the company’s stock, valued at approximately $6,560,791.10. The trade was a 6.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 10.07% of the company’s stock.

Marriott International Price Performance

Shares of NASDAQ:MAR opened at $288.42 on Wednesday. The company’s fifty day moving average price is $284.06 and its 200 day moving average price is $263.97. Marriott International, Inc. has a 12 month low of $204.55 and a 12 month high of $307.52. The firm has a market capitalization of $79.52 billion, a P/E ratio of 34.67, a P/E/G ratio of 3.38 and a beta of 1.57.

Marriott International (NASDAQ:MAR) last issued its quarterly earnings data on Tuesday, February 11th. The company reported $2.45 earnings per share (EPS) 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%. On average, sell-side analysts anticipate that Marriott International, Inc. will post 10.1 EPS for the current year.

Marriott International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, February 27th will be issued a $0.63 dividend. This represents a $2.52 annualized dividend and a dividend yield of 0.87%. The ex-dividend date is Thursday, February 27th. Marriott International’s payout ratio is 30.29%.

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.