Ipswich Investment Management Co. Inc. Trims Holdings in Marriott International, Inc. (NASDAQ:MAR)

Ipswich Investment Management Co. Inc. decreased its stake in shares of Marriott International, Inc. (NASDAQ:MAR) by 3.9% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 3,095 shares of the company’s stock after selling 125 shares during the quarter. Ipswich Investment Management Co. Inc.’s holdings in Marriott International were worth $737,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Dodds Wealth LLC raised its position in Marriott International by 16.6% in the first quarter. Dodds Wealth LLC now owns 1,763 shares of the company’s stock valued at $420,000 after purchasing an additional 251 shares during the period. Union Bancaire Privee UBP SA raised its position in Marriott International by 36.9% in the first quarter. Union Bancaire Privee UBP SA now owns 15,716 shares of the company’s stock valued at $3,521,000 after purchasing an additional 4,236 shares during the period. Fifth Third Bancorp raised its position in Marriott International by 5.1% in the first quarter. Fifth Third Bancorp now owns 99,593 shares of the company’s stock valued at $23,723,000 after purchasing an additional 4,833 shares during the period. Simon Quick Advisors LLC raised its position in Marriott International by 14.1% in the first quarter. Simon Quick Advisors LLC now owns 1,086 shares of the company’s stock valued at $259,000 after purchasing an additional 134 shares during the period. Finally, Focus Financial Network Inc. raised its position in Marriott International by 2.6% in the first quarter. Focus Financial Network Inc. now owns 2,031 shares of the company’s stock valued at $484,000 after purchasing an additional 52 shares during the period. Hedge funds and other institutional investors own 70.70% of the company’s stock.

Insider Transactions at Marriott International

In other news, CEO Anthony Capuano sold 12,000 shares of the business’s stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $263.90, for a total value of $3,166,800.00. Following the completion of the sale, the chief executive officer now directly owns 124,067 shares of the company’s stock, valued at approximately $32,741,281.30. The trade was a 8.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Benjamin T. Breland sold 1,000 shares of the business’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $270.21, for a total value of $270,210.00. Following the completion of the sale, the executive vice president now directly owns 20,724 shares of the company’s stock, valued at $5,599,832.04. The trade was a 4.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 10.68% of the company’s stock.

Marriott International Price Performance

MAR opened at $254.99 on Friday. Marriott International, Inc. has a 12 month low of $204.55 and a 12 month high of $307.52. The stock has a market capitalization of $69.84 billion, a price-to-earnings ratio of 30.65, a PEG ratio of 3.42 and a beta of 1.42. The business has a fifty day moving average price of $249.62 and a 200 day moving average price of $264.85.

Marriott International (NASDAQ:MAR) last released its quarterly earnings data on Tuesday, May 6th. The company reported $2.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.25 by $0.07. The business had revenue of $6.26 billion during the quarter, compared to analysts’ expectations of $6.19 billion. Marriott International had a negative return on equity of 116.67% and a net margin of 9.46%. The business’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.13 EPS. On average, research analysts anticipate that Marriott International, Inc. will post 10.1 earnings per share for the current year.

Marriott International Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, May 23rd will be given a dividend of $0.67 per share. This is a boost from Marriott International’s previous quarterly dividend of $0.63. This represents a $2.68 annualized dividend and a dividend yield of 1.05%. The ex-dividend date of this dividend is Friday, May 23rd. Marriott International’s dividend payout ratio is currently 30.52%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on MAR shares. Barclays reduced their target price on Marriott International from $283.00 to $236.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 22nd. Melius Research raised Marriott International to a “strong-buy” rating in a research note on Monday, April 21st. Stifel Nicolaus dropped their price objective on Marriott International from $295.00 to $240.00 and set a “hold” rating for the company in a research note on Wednesday, April 16th. Mizuho dropped their price objective on Marriott International from $293.00 to $285.00 and set a “neutral” rating for the company in a research note on Wednesday, May 7th. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $245.00 price objective (down from $313.00) on shares of Marriott International in a research note on Monday, April 14th. Thirteen investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $275.15.

Marriott International Company 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.