Truist Financial Corp Sells 1,870 Shares of Marriott International, Inc. (NASDAQ:MAR)

Truist Financial Corp lowered its holdings in Marriott International, Inc. (NASDAQ:MAR) by 3.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 49,842 shares of the company’s stock after selling 1,870 shares during the quarter. Truist Financial Corp’s holdings in Marriott International were worth $13,903,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Sound Income Strategies LLC increased its stake in Marriott International by 494.4% in the fourth quarter. Sound Income Strategies LLC now owns 107 shares of the company’s stock valued at $30,000 after acquiring an additional 89 shares during the period. Wingate Wealth Advisors Inc. bought a new stake in Marriott International during the fourth quarter worth about $33,000. Silvant Capital Management LLC bought a new stake in Marriott International during the third quarter worth about $31,000. Darwin Wealth Management LLC bought a new stake in Marriott International during the third quarter worth about $33,000. Finally, Heck Capital Advisors LLC bought a new stake in Marriott International during the fourth quarter worth about $38,000. Institutional investors own 70.70% of the company’s stock.

Marriott International Price Performance

Shares of NASDAQ MAR opened at $287.20 on Friday. The company’s 50 day simple moving average is $283.92 and its 200 day simple moving average is $264.29. The firm has a market capitalization of $79.18 billion, a P/E ratio of 34.52, a P/E/G ratio of 3.43 and a beta of 1.57. Marriott International, Inc. has a fifty-two week low of $204.55 and a fifty-two week high of $307.52.

Marriott International (NASDAQ:MAR) last posted its earnings results on Tuesday, February 11th. The company reported $2.45 earnings per share for the quarter, topping the consensus estimate of $2.37 by $0.08. Marriott International had a net margin of 9.46% and a negative return on equity of 116.67%. Sell-side analysts expect that Marriott International, Inc. will post 10.1 EPS for the current fiscal year.

Marriott International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Thursday, February 27th will be issued a $0.63 dividend. The ex-dividend date is Thursday, February 27th. This represents a $2.52 annualized dividend and a yield of 0.88%. Marriott International’s dividend payout ratio (DPR) is presently 30.29%.

Wall Street Analyst Weigh In

Several analysts have weighed in on MAR shares. Mizuho upped their price objective on shares of Marriott International from $246.00 to $293.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 12th. Robert W. Baird upped their price objective on shares of Marriott International from $258.00 to $264.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 5th. JPMorgan Chase & Co. upped their price objective on shares of Marriott International from $251.00 to $269.00 and gave the stock a “neutral” rating in a research note on Friday, December 13th. Barclays decreased their price target on shares of Marriott International from $287.00 to $283.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 12th. Finally, BMO Capital Markets increased their price target on shares of Marriott International from $255.00 to $265.00 and gave the company a “market perform” rating in a research note on Tuesday, November 5th. Thirteen investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $284.05.

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.