Pitti Group Wealth Management LLC Decreases Stock Holdings in Marriott International, Inc. (NASDAQ:MAR)

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

Other institutional investors have also bought and sold shares of the company. Hopwood Financial Services Inc. purchased a new stake in shares of Marriott International during the 4th quarter valued at approximately $25,000. Bell Investment Advisors Inc raised its position in shares of Marriott International by 112.2% during the 4th quarter. Bell Investment Advisors Inc now owns 104 shares of the company’s stock valued at $29,000 after buying an additional 55 shares during the period. Sound Income Strategies LLC raised its position in shares of Marriott International by 494.4% during the 4th quarter. Sound Income Strategies LLC now owns 107 shares of the company’s stock valued at $30,000 after buying an additional 89 shares during the period. Darwin Wealth Management LLC purchased a new stake in shares of Marriott International during the 3rd quarter valued at approximately $33,000. Finally, Wingate Wealth Advisors Inc. purchased a new stake in shares of Marriott International during the 4th quarter valued at approximately $33,000. 70.70% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Marriott International

In other news, insider William P. Brown sold 12,642 shares of the company’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $285.63, for a total value of $3,610,934.46. Following the completion of the sale, the insider now directly owns 30,919 shares of the company’s stock, valued at approximately $8,831,393.97. This represents a 29.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kathleen K. Oberg sold 14,498 shares of the company’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $278.07, for a total transaction of $4,031,458.86. Following the completion of the sale, the chief financial officer now directly owns 14,282 shares of the company’s stock, valued at $3,971,395.74. The trade was a 50.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 31,694 shares of company stock valued at $8,938,132 over the last ninety days. Insiders own 12.32% of the company’s stock.

Marriott International Trading Up 2.5 %

Marriott International stock opened at $243.11 on Monday. The stock has a market cap of $67.02 billion, a P/E ratio of 29.22, a price-to-earnings-growth ratio of 3.42 and a beta of 1.58. The company has a fifty day simple moving average of $278.37 and a 200-day simple moving average of $269.96. Marriott International, Inc. has a 12-month low of $204.55 and a 12-month 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, beating analysts’ consensus estimates of $2.37 by $0.08. Marriott International had a net margin of 9.46% and a negative return on equity of 116.67%. As a group, sell-side analysts forecast that Marriott International, Inc. will post 10.1 earnings per share for the current fiscal year.

Marriott International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Thursday, February 27th will be given a $0.63 dividend. The ex-dividend date of this dividend is Thursday, February 27th. This represents a $2.52 dividend on an annualized basis and a yield of 1.04%. Marriott International’s dividend payout ratio (DPR) is presently 30.29%.

Wall Street Analyst Weigh In

Several research firms have recently commented on MAR. Stifel Nicolaus lifted their price target on shares of Marriott International from $252.00 to $283.00 and gave the company a “hold” rating in a research report on Tuesday, November 26th. Wells Fargo & Company dropped their target price on shares of Marriott International from $285.00 to $277.00 and set an “equal weight” rating for the company in a report on Tuesday, February 18th. Mizuho lifted their target price on shares of Marriott International from $246.00 to $293.00 and gave the company a “neutral” rating in a report on Wednesday, February 12th. Argus lifted their target price on shares of Marriott International from $300.00 to $330.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Finally, The Goldman Sachs Group lifted their target price on shares of Marriott International from $280.00 to $314.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Thirteen research 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.

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.