Abner Herrman & Brock LLC lessened its stake in shares of Marriott International Inc (NASDAQ:MAR) by 15.5% during the fourth quarter, Holdings Channel reports. The fund owned 149,321 shares of the company’s stock after selling 27,479 shares during the quarter. Marriott International accounts for about 3.0% of Abner Herrman & Brock LLC’s portfolio, making the stock its 10th biggest position. Abner Herrman & Brock LLC’s holdings in Marriott International were worth $16,210,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Centaurus Financial Inc. purchased a new position in shares of Marriott International in the second quarter worth approximately $102,000. Pathstone Family Office LLC purchased a new position in shares of Marriott International in the third quarter worth approximately $132,000. CenterStar Asset Management LLC purchased a new position in shares of Marriott International in the third quarter worth approximately $133,000. Parsec Financial Management Inc. purchased a new position in shares of Marriott International in the third quarter worth approximately $212,000. Finally, Exane Asset Management purchased a new position in Marriott International during the second quarter valued at approximately $218,000. 63.34% of the stock is currently owned by hedge funds and other institutional investors.
MAR has been the topic of several analyst reports. Zacks Investment Research raised shares of Marriott International from a “hold” rating to a “buy” rating and set a $149.00 price target on the stock in a report on Monday, October 1st. BidaskClub downgraded shares of Marriott International from a “hold” rating to a “sell” rating in a report on Friday, October 5th. Robert W. Baird set a $133.00 price target on shares of Marriott International and gave the company a “hold” rating in a report on Friday, October 19th. Cowen initiated coverage on shares of Marriott International in a report on Monday, October 22nd. They set an “outperform” rating and a $140.00 price target on the stock. Finally, SunTrust Banks lowered their price target on shares of Marriott International to $125.00 and set a “hold” rating on the stock in a report on Wednesday, November 7th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $138.33.
Marriott International (NASDAQ:MAR) last released its quarterly earnings data on Monday, November 5th. The company reported $1.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.39. The firm had revenue of $5.05 billion for the quarter, compared to analysts’ expectations of $5.28 billion. Marriott International had a net margin of 7.95% and a return on equity of 68.01%. The company’s revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter last year, the business posted $1.10 earnings per share. As a group, equities analysts expect that Marriott International Inc will post 6.18 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, December 31st. Stockholders of record on Wednesday, November 21st were given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 1.52%. The ex-dividend date was Tuesday, November 20th. Marriott International’s payout ratio is currently 37.61%.
In other news, Director Eric Hippeau sold 9,000 shares of Marriott International stock in a transaction that occurred on Tuesday, November 13th. The shares were sold at an average price of $116.23, for a total transaction of $1,046,070.00. Following the sale, the director now owns 21,762 shares in the company, valued at $2,529,397.26. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 12.99% of the company’s stock.
Marriott International Profile
Marriott International, Inc operates, franchises, and licenses hotel, residential, and timeshare properties worldwide. The company operates through three segments: North American Full-Service, North American Limited-Service, and Asia Pacific. It operates its properties under the JW Marriott, The Ritz-Carlton, W Hotels, The Luxury Collection, St.
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