Integrated Wealth Concepts LLC Cuts Stock Holdings in Marriott International, Inc. (NASDAQ:MAR)

Integrated Wealth Concepts LLC cut its holdings in Marriott International, Inc. (NASDAQ:MAR) by 1.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,499 shares of the company’s stock after selling 36 shares during the quarter. Integrated Wealth Concepts LLC’s holdings in Marriott International were worth $870,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Hantz Financial Services Inc. purchased a new stake in Marriott International in the second quarter worth approximately $26,000. MFA Wealth Advisors LLC purchased a new position in shares of Marriott International in the 2nd quarter worth $28,000. Silvant Capital Management LLC bought a new stake in shares of Marriott International in the third quarter worth $31,000. Darwin Wealth Management LLC bought a new position in Marriott International in the third quarter valued at about $33,000. Finally, Unique Wealth Strategies LLC purchased a new position in Marriott International in the second quarter worth about $35,000. Institutional investors own 70.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Truist Financial increased their price objective on shares of Marriott International from $254.00 to $277.00 and gave the stock a “hold” rating in a research note on Wednesday, December 4th. Bank of America lifted their price target on shares of Marriott International from $275.00 to $300.00 and gave the stock a “buy” rating in a research note on Monday, October 21st. Wells Fargo & Company upped their price objective on Marriott International from $238.00 to $261.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 22nd. UBS Group lowered their target price on Marriott International from $267.00 to $244.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 13th. Finally, Mizuho upped their price target on Marriott International from $233.00 to $246.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. Fourteen research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $261.35.

Marriott International Price Performance

NASDAQ MAR opened at $286.97 on Tuesday. The stock has a market capitalization of $79.75 billion, a PE ratio of 30.02, a P/E/G ratio of 5.76 and a beta of 1.58. Marriott International, Inc. has a 1-year low of $204.55 and a 1-year high of $295.45. The business has a 50 day simple moving average of $271.61 and a two-hundred day simple moving average of $247.38.

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

Marriott International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Thursday, November 21st will be paid a dividend of $0.63 per share. The ex-dividend date is Thursday, November 21st. This represents a $2.52 annualized dividend and a yield of 0.88%. Marriott International’s payout ratio is currently 26.36%.

Insider Activity

In other news, CEO Anthony Capuano sold 8,332 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $284.49, for a total value of $2,370,370.68. Following the completion of the sale, the chief executive officer now owns 108,361 shares in the company, valued at approximately $30,827,620.89. This trade represents a 7.14 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Benjamin T. Breland sold 500 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $274.49, for a total transaction of $137,245.00. Following the transaction, the executive vice president now owns 12,286 shares in the company, valued at $3,372,384.14. The trade was a 3.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 13,815 shares of company stock valued at $3,919,739 in the last ninety days. 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.