Pitti Group Wealth Management LLC Sells 437 Shares of Marriott International, Inc. (NASDAQ:MAR)

Pitti Group Wealth Management LLC decreased its holdings in shares of Marriott International, Inc. (NASDAQ:MAR) by 15.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,390 shares of the company’s stock after selling 437 shares during the quarter. Pitti Group Wealth Management LLC’s holdings in Marriott International were worth $667,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Larson Financial Group LLC grew its stake in shares of Marriott International by 10.8% during the third quarter. Larson Financial Group LLC now owns 379 shares of the company’s stock valued at $94,000 after buying an additional 37 shares during the last quarter. TFG Advisers LLC grew its stake in Marriott International by 0.8% in the fourth quarter. TFG Advisers LLC now owns 4,426 shares of the company’s stock worth $1,235,000 after purchasing an additional 37 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its stake in Marriott International by 1.2% in the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 3,290 shares of the company’s stock worth $918,000 after purchasing an additional 38 shares in the last quarter. Evermay Wealth Management LLC grew its stake in Marriott International by 1.1% in the fourth quarter. Evermay Wealth Management LLC now owns 3,415 shares of the company’s stock worth $953,000 after purchasing an additional 38 shares in the last quarter. Finally, Essex Financial Services Inc. grew its stake in Marriott International by 1.3% in the fourth quarter. Essex Financial Services Inc. now owns 3,004 shares of the company’s stock worth $838,000 after purchasing an additional 39 shares in the last quarter. Institutional investors own 70.70% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on MAR shares. Stifel Nicolaus increased their price objective on Marriott International from $252.00 to $283.00 and gave the stock a “hold” rating in a research note on Tuesday, November 26th. Jefferies Financial Group upped their target price on Marriott International from $251.00 to $295.00 and gave the stock a “hold” rating in a report on Thursday, January 2nd. Barclays lowered their target price on Marriott International from $287.00 to $283.00 and set an “equal weight” rating for the company in a report on Wednesday, February 12th. Truist Financial upped their target price on Marriott International from $277.00 to $308.00 and gave the stock a “hold” rating in a report on Wednesday, February 12th. Finally, Susquehanna upped their target price on Marriott International from $255.00 to $285.00 and gave the stock a “neutral” rating in a report on Wednesday, February 12th. Thirteen investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Marriott International currently has an average rating of “Hold” and a consensus target price of $286.45.

Insider Activity

In related news, Director Susan C. Schwab sold 1,054 shares of the firm’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $277.48, for a total value of $292,463.92. Following the transaction, the director now directly owns 4,551 shares of the company’s stock, valued at approximately $1,262,811.48. This trade represents a 18.80 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider William P. Brown sold 12,642 shares of the firm’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $285.63, for a total transaction of $3,610,934.46. Following the completion of the transaction, the insider now directly owns 30,919 shares in the company, valued at $8,831,393.97. This represents a 29.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 31,694 shares of company stock worth $8,938,132 in the last ninety days. Company insiders own 12.32% of the company’s stock.

Marriott International Stock Performance

Shares of MAR opened at $243.11 on Monday. The business’s 50-day moving average is $278.37 and its two-hundred day moving average is $269.96. The company has a market capitalization of $67.02 billion, a P/E ratio of 29.22, a P/E/G ratio of 3.42 and a beta of 1.58. 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 announced its quarterly 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 negative return on equity of 116.67% and a net margin of 9.46%. Analysts forecast that Marriott International, Inc. will post 10.1 EPS for the current year.

Marriott International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Thursday, February 27th 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 1.04%. The ex-dividend date is Thursday, February 27th. Marriott International’s dividend payout ratio (DPR) is presently 30.29%.

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.