Bedell Frazier Investment Counselling LLC Lowers Stock Position in Marriott International, Inc. (NASDAQ:MAR)

Bedell Frazier Investment Counselling LLC lessened its holdings in Marriott International, Inc. (NASDAQ:MAR) by 3.3% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 8,266 shares of the company’s stock after selling 280 shares during the period. Bedell Frazier Investment Counselling LLC’s holdings in Marriott International were worth $2,055,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the business. National Pension Service lifted its position in shares of Marriott International by 11.6% in the 3rd quarter. National Pension Service now owns 719,613 shares of the company’s stock worth $178,896,000 after purchasing an additional 74,832 shares during the period. Dimensional Fund Advisors LP lifted its position in Marriott International by 5.1% during the second quarter. Dimensional Fund Advisors LP now owns 679,757 shares of the company’s stock valued at $164,355,000 after acquiring an additional 33,149 shares during the last quarter. First Pacific Advisors LP lifted its position in Marriott International by 2.1% during the second quarter. First Pacific Advisors LP now owns 613,205 shares of the company’s stock valued at $148,255,000 after acquiring an additional 12,499 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in Marriott International by 0.5% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 566,548 shares of the company’s stock valued at $140,844,000 after acquiring an additional 2,723 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in Marriott International by 3.0% during the third quarter. PNC Financial Services Group Inc. now owns 443,103 shares of the company’s stock valued at $110,156,000 after acquiring an additional 12,702 shares during the last quarter. Hedge funds and other institutional investors own 70.70% of the company’s stock.

Marriott International Stock Up 0.3 %

Shares of NASDAQ MAR opened at $284.29 on Monday. The firm has a market cap of $79.00 billion, a price-to-earnings ratio of 29.74, a PEG ratio of 5.59 and a beta of 1.58. Marriott International, Inc. has a 52-week low of $200.94 and a 52-week high of $289.04. The business’s 50 day moving average is $261.88 and its two-hundred day moving average is $243.45.

Marriott International (NASDAQ:MAR) last announced its earnings results on Monday, November 4th. The company reported $2.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $6.27 billion. During the same period in the previous year, the firm earned $2.11 EPS. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. Analysts anticipate that Marriott International, Inc. will post 9.26 EPS for the current fiscal year.

Marriott International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Thursday, November 21st will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date is Thursday, November 21st. Marriott International’s dividend payout ratio is currently 26.36%.

Analysts Set New Price Targets

A number of brokerages have issued reports on MAR. Deutsche Bank Aktiengesellschaft cut their price target on shares of Marriott International from $222.00 to $216.00 and set a “hold” rating on the stock in a research note on Thursday, August 1st. Sanford C. Bernstein upped their price target on shares of Marriott International from $262.00 to $290.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Bank of America upped their price target on shares of Marriott International from $275.00 to $300.00 and gave the company a “buy” rating in a research note on Monday, October 21st. Morgan Stanley cut their price target on shares of Marriott International from $268.00 to $250.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. Finally, Macquarie reiterated a “neutral” rating and issued a $245.00 price objective on shares of Marriott International in a research note on Tuesday, November 5th. Thirteen research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Marriott International has an average rating of “Hold” and a consensus price target of $259.00.

Insider Transactions at Marriott International

In other news, CEO Anthony Capuano sold 8,332 shares of the company’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $284.49, for a total transaction of $2,370,370.68. Following the sale, the chief executive officer now owns 108,361 shares of the company’s stock, valued at approximately $30,827,620.89. This represents a 7.14 % 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, CFO Kathleen K. Oberg sold 2,360 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $285.41, for a total transaction of $673,567.60. Following the transaction, the chief financial officer now owns 39,726 shares of the company’s stock, valued at approximately $11,338,197.66. The trade was a 5.61 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 12,108 shares of company stock valued at $3,434,439. 10.07% of the stock is currently 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.