ICICI Prudential Asset Management Co Ltd Purchases 538 Shares of Marriott International, Inc. (NASDAQ:MAR)

ICICI Prudential Asset Management Co Ltd increased its position in shares of Marriott International, Inc. (NASDAQ:MAR) by 17.2% during the 3rd quarter, Holdings Channel reports. The firm owned 3,675 shares of the company’s stock after acquiring an additional 538 shares during the period. ICICI Prudential Asset Management Co Ltd’s holdings in Marriott International were worth $914,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Kovack Advisors Inc. increased its holdings in Marriott International by 83.3% in the 3rd quarter. Kovack Advisors Inc. now owns 1,872 shares of the company’s stock valued at $465,000 after acquiring an additional 851 shares during the last quarter. Oppenheimer Asset Management Inc. grew its stake in shares of Marriott International by 12.5% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 2,122 shares of the company’s stock worth $528,000 after buying an additional 235 shares in the last quarter. GHE LLC grew its stake in shares of Marriott International by 17.0% in the 3rd quarter. GHE LLC now owns 6,549 shares of the company’s stock worth $1,628,000 after buying an additional 953 shares in the last quarter. Pinnacle Financial Partners Inc purchased a new position in shares of Marriott International in the 3rd quarter worth $99,000. Finally, Haverford Trust Co grew its stake in shares of Marriott International by 1.0% in the 3rd quarter. Haverford Trust Co now owns 4,207 shares of the company’s stock worth $1,046,000 after buying an additional 40 shares in the last quarter. 70.70% of the stock is currently owned by institutional investors.

Marriott International Trading Up 0.7 %

Shares of MAR stock traded up $1.99 during trading hours on Wednesday, hitting $288.01. The company’s stock had a trading volume of 176,932 shares, compared to its average volume of 1,468,559. The stock has a market cap of $80.04 billion, a PE ratio of 29.92, a price-to-earnings-growth ratio of 6.27 and a beta of 1.58. Marriott International, Inc. has a 12-month low of $199.98 and a 12-month high of $288.22. The company has a 50 day moving average of $253.37 and a 200 day moving average of $240.86.

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

Marriott International Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Thursday, November 21st will be paid a $0.63 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $2.52 dividend on an annualized basis and a dividend yield of 0.87%. Marriott International’s payout ratio is currently 26.36%.

Analyst Ratings Changes

MAR has been the subject of a number of recent analyst reports. Evercore ISI lifted their price target on shares of Marriott International from $245.00 to $270.00 and gave the stock an “in-line” rating in a research note on Monday, October 21st. Macquarie reissued a “neutral” rating and issued a $245.00 price objective on shares of Marriott International in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Marriott International from $222.00 to $216.00 and set a “hold” rating for the company in a research report on Thursday, August 1st. Bank of America boosted their price objective on shares of Marriott International from $275.00 to $300.00 and gave the company a “buy” rating in a research report on Monday, October 21st. Finally, UBS Group reduced their price target on shares of Marriott International from $267.00 to $244.00 and set a “neutral” rating for the company in a report on Tuesday, August 13th. Thirteen research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Marriott International presently has a consensus rating of “Hold” and a consensus target price of $259.00.

Insider Activity at Marriott International

In related news, CAO Felitia Lee sold 916 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $276.48, for a total transaction of $253,255.68. Following the sale, the chief accounting officer now owns 5,609 shares in the company, valued at approximately $1,550,776.32. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Benjamin T. Breland sold 500 shares of Marriott International stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $274.49, for a total value of $137,245.00. Following the sale, the executive vice president now owns 12,286 shares in the company, valued at $3,372,384.14. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Felitia Lee sold 916 shares of Marriott International stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $276.48, for a total transaction of $253,255.68. Following the completion of the sale, the chief accounting officer now owns 5,609 shares in the company, valued at approximately $1,550,776.32. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 10.07% of the stock is owned by company insiders.

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.