Penobscot Investment Management Company Inc. Buys 110 Shares of Marriott International, Inc. (NASDAQ:MAR)

Penobscot Investment Management Company Inc. increased its stake in shares of Marriott International, Inc. (NASDAQ:MAR) by 1.8% during the 1st quarter, Holdings Channel reports. The fund owned 6,370 shares of the company’s stock after acquiring an additional 110 shares during the period. Penobscot Investment Management Company Inc.’s holdings in Marriott International were worth $1,517,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of MAR. Brighton Jones LLC boosted its stake in Marriott International by 2.5% during the fourth quarter. Brighton Jones LLC now owns 8,887 shares of the company’s stock worth $2,479,000 after acquiring an additional 218 shares in the last quarter. First Horizon Advisors Inc. raised its holdings in Marriott International by 22.7% during the fourth quarter. First Horizon Advisors Inc. now owns 276 shares of the company’s stock worth $77,000 after buying an additional 51 shares during the last quarter. MONECO Advisors LLC acquired a new position in Marriott International during the fourth quarter worth $216,000. Y Intercept Hong Kong Ltd acquired a new position in Marriott International during the fourth quarter worth $1,374,000. Finally, IFP Advisors Inc raised its holdings in Marriott International by 77.6% during the fourth quarter. IFP Advisors Inc now owns 3,978 shares of the company’s stock worth $1,111,000 after buying an additional 1,738 shares during the last quarter. 70.70% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

MAR has been the topic of several research reports. Barclays lowered their price objective on shares of Marriott International from $283.00 to $236.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 22nd. Robert W. Baird upped their price objective on shares of Marriott International from $250.00 to $265.00 and gave the stock a “neutral” rating in a report on Wednesday, May 7th. Mizuho lowered their price objective on shares of Marriott International from $293.00 to $285.00 and set a “neutral” rating on the stock in a report on Wednesday, May 7th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $245.00 target price (down previously from $313.00) on shares of Marriott International in a report on Monday, April 14th. Finally, Melius Research upgraded shares of Marriott International to a “strong-buy” rating in a report on Monday, April 21st. Thirteen analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $275.90.

Marriott International Stock Down 1.0%

Shares of NASDAQ:MAR opened at $265.99 on Thursday. The firm has a market capitalization of $72.85 billion, a PE ratio of 30.29, a P/E/G ratio of 3.32 and a beta of 1.42. Marriott International, Inc. has a twelve month low of $204.55 and a twelve month high of $307.52. The company has a 50-day moving average price of $255.57 and a two-hundred day moving average price of $263.34.

Marriott International (NASDAQ:MAR) last issued its earnings results on Tuesday, May 6th. The company reported $2.32 earnings per share for the quarter, topping analysts’ consensus estimates of $2.25 by $0.07. The firm had revenue of $6.26 billion during the quarter, compared to analyst estimates of $6.19 billion. Marriott International had a net margin of 9.75% and a negative return on equity of 100.64%. The company’s quarterly revenue was up 4.8% on a year-over-year basis. During the same quarter last year, the business earned $2.13 earnings per share. Analysts anticipate that Marriott International, Inc. will post 10.1 earnings per share for the current fiscal year.

Marriott International Increases Dividend

The company 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 $0.67 dividend. This is a positive change from Marriott International’s previous quarterly dividend of $0.63. This represents a $2.68 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date is Friday, May 23rd. Marriott International’s dividend payout ratio (DPR) is 30.52%.

Insider Activity

In other news, insider Rajeev Menon sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $268.28, for a total value of $670,700.00. Following the completion of the transaction, the insider now directly owns 5,706 shares in the company, valued at approximately $1,530,805.68. This trade represents a 30.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Anthony Capuano sold 12,000 shares of the firm’s stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $263.90, for a total transaction of $3,166,800.00. Following the completion of the transaction, the chief executive officer now owns 124,067 shares of the company’s stock, valued at $32,741,281.30. This trade represents a 8.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,500 shares of company stock worth $4,107,710. 10.68% of the stock is owned by company insiders.

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.