Marriott International, Inc. (NASDAQ:MAR) Shares Bought by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. boosted its position in Marriott International, Inc. (NASDAQ:MAR) by 12.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,122 shares of the company’s stock after purchasing an additional 235 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Marriott International were worth $528,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bangor Savings Bank grew its stake in Marriott International by 131.1% during the second quarter. Bangor Savings Bank now owns 104 shares of the company’s stock worth $25,000 after buying an additional 59 shares during the period. Hantz Financial Services Inc. purchased a new stake in Marriott International during the 2nd quarter worth $26,000. MFA Wealth Advisors LLC purchased a new position in Marriott International in the second quarter valued at about $28,000. Silvant Capital Management LLC acquired a new position in shares of Marriott International during the third quarter worth about $31,000. Finally, Unique Wealth Strategies LLC purchased a new stake in shares of Marriott International in the second quarter worth about $35,000. 70.70% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Benjamin T. Breland sold 500 shares of the firm’s stock in a transaction that occurred on 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. This trade represents a 3.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kathleen K. Oberg sold 2,360 shares of Marriott International stock in a transaction on Monday, November 11th. The shares were sold at an average price of $285.41, for a total value of $673,567.60. Following the transaction, the chief financial officer now owns 39,726 shares in the company, valued at approximately $11,338,197.66. This trade represents a 5.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 12,108 shares of company stock valued at $3,434,439. Company insiders own 10.07% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Bank of America boosted their price target on Marriott International from $275.00 to $300.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Morgan Stanley lowered their price target on shares of Marriott International from $268.00 to $250.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. Wells Fargo & Company upped their price objective on shares of Marriott International from $238.00 to $261.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 22nd. Truist Financial dropped their target price on Marriott International from $263.00 to $254.00 and set a “hold” rating on the stock in a research report on Tuesday, August 6th. Finally, Macquarie restated a “neutral” rating and set a $245.00 price objective on shares of Marriott International in a research note on Tuesday, November 5th. Thirteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $259.00.

Marriott International Price Performance

NASDAQ:MAR opened at $279.27 on Wednesday. Marriott International, Inc. has a 12-month low of $200.94 and a 12-month high of $289.04. The business has a 50 day simple moving average of $258.72 and a 200 day simple moving average of $242.46. The firm has a market capitalization of $77.61 billion, a P/E ratio of 29.21, a P/E/G ratio of 5.48 and a beta of 1.58.

Marriott International (NASDAQ:MAR) last issued its quarterly earnings data 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 net margin of 11.18% and a negative return on equity of 177.91%. The firm 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 business earned $2.11 earnings per share. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. Research analysts anticipate that Marriott International, Inc. will post 9.26 EPS for the current fiscal year.

Marriott International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Thursday, November 21st will be given a dividend of $0.63 per share. The ex-dividend date is Thursday, November 21st. This represents a $2.52 dividend on an annualized basis and a yield of 0.90%. Marriott International’s dividend payout ratio (DPR) is presently 26.36%.

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.