Ladenburg Thalmann Financial Services Inc. cut its holdings in shares of Marriott International Inc (NASDAQ:MAR) by 25.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,894 shares of the company’s stock after selling 6,396 shares during the quarter. Ladenburg Thalmann Financial Services Inc.’s holdings in Marriott International were worth $2,083,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in the business. Regal Wealth Group Inc. lifted its holdings in Marriott International by 0.3% during the 2nd quarter. Regal Wealth Group Inc. now owns 1,637 shares of the company’s stock worth $164,000 after buying an additional 5 shares in the last quarter. Family Firm Inc. raised its holdings in shares of Marriott International by 0.3% in the 2nd quarter. Family Firm Inc. now owns 2,931 shares of the company’s stock valued at $294,000 after purchasing an additional 8 shares in the last quarter. Burt Wealth Advisors raised its holdings in shares of Marriott International by 0.4% in the 2nd quarter. Burt Wealth Advisors now owns 8,029 shares of the company’s stock valued at $805,000 after purchasing an additional 30 shares in the last quarter. Kopp Investment Advisors LLC raised its holdings in shares of Marriott International by 0.3% in the 2nd quarter. Kopp Investment Advisors LLC now owns 11,481 shares of the company’s stock valued at $1,152,000 after purchasing an additional 36 shares in the last quarter. Finally, Flagship Harbor Advisors LLC raised its holdings in shares of Marriott International by 1.8% in the 2nd quarter. Flagship Harbor Advisors LLC now owns 2,322 shares of the company’s stock valued at $233,000 after purchasing an additional 42 shares in the last quarter. Institutional investors own 66.83% of the company’s stock.
In other Marriott International news, insider Argiris Kyriakidis sold 3,000 shares of the firm’s stock in a transaction on Thursday, September 21st. The shares were sold at an average price of $107.84, for a total transaction of $323,520.00. Following the transaction, the insider now directly owns 16,079 shares of the company’s stock, valued at approximately $1,733,959.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Eric Hippeau sold 4,863 shares of the firm’s stock in a transaction on Monday, November 20th. The stock was sold at an average price of $125.98, for a total transaction of $612,640.74. Following the transaction, the director now directly owns 34,245 shares in the company, valued at $4,314,185.10. The disclosure for this sale can be found here. Insiders have sold a total of 205,771 shares of company stock worth $24,623,025 over the last three months. 11.32% of the stock is currently owned by insiders.
Marriott International (NASDAQ:MAR) last announced its quarterly earnings results on Tuesday, November 7th. The company reported $1.10 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.98 by $0.12. Marriott International had a net margin of 6.30% and a return on equity of 31.58%. The firm had revenue of $5.66 billion for the quarter, compared to analyst estimates of $5.22 billion. During the same period last year, the business earned $0.91 EPS. Marriott International’s revenue for the quarter was up 43.7% compared to the same quarter last year. analysts predict that Marriott International Inc will post 4.24 earnings per share for the current fiscal year.
Marriott International declared that its Board of Directors has initiated a stock buyback program on Thursday, November 9th that allows the company to buyback 30,000,000 outstanding shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Wednesday, November 22nd will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 1.02%. The ex-dividend date of this dividend is Tuesday, November 21st. Marriott International’s payout ratio is currently 35.87%.
A number of brokerages have recently weighed in on MAR. Barclays raised their price objective on shares of Marriott International from $105.00 to $130.00 and gave the company an “equal weight” rating in a report on Tuesday, November 28th. Morgan Stanley restated a “buy” rating on shares of Marriott International in a report on Friday, December 8th. Deutsche Bank restated a “hold” rating and issued a $124.00 price objective on shares of Marriott International in a report on Wednesday, December 6th. Stifel Nicolaus restated a “hold” rating and issued a $115.00 price objective (up from $98.00) on shares of Marriott International in a report on Wednesday, November 8th. Finally, BidaskClub lowered shares of Marriott International from a “strong-buy” rating to a “buy” rating in a report on Friday, November 10th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the company. Marriott International currently has a consensus rating of “Buy” and an average price target of $110.86.
About Marriott International
Marriott International, Inc (Marriott International) is a lodging company. Marriott International operates in three business segments: North American Full-Service, North American Limited-Service and International. Its North American Full-Service segment includes its Luxury and Premium brands (JW Marriott, Marriott Hotels, Sheraton, Westin, Renaissance Hotels, Le Meridien, Autograph Collection Hotels, Delta Hotels, Gaylord Hotels, and Tribute Portfolio) located in the United States and Canada.
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