Cetera Investment Advisers Has $13.23 Million Stock Position in Marriott International, Inc. (NASDAQ:MAR)

Cetera Investment Advisers lessened its position in Marriott International, Inc. (NASDAQ:MAR) by 6.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 54,707 shares of the company’s stock after selling 3,740 shares during the quarter. Cetera Investment Advisers’ holdings in Marriott International were worth $13,227,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Rockland Trust Co. boosted its stake in Marriott International by 2.3% during the 2nd quarter. Rockland Trust Co. now owns 1,802 shares of the company’s stock valued at $436,000 after purchasing an additional 41 shares during the period. Moody National Bank Trust Division increased its position in Marriott International by 1.2% during the first quarter. Moody National Bank Trust Division now owns 3,673 shares of the company’s stock worth $927,000 after acquiring an additional 42 shares during the period. Kathmere Capital Management LLC boosted its holdings in Marriott International by 1.2% in the 1st quarter. Kathmere Capital Management LLC now owns 3,599 shares of the company’s stock valued at $908,000 after purchasing an additional 42 shares during the period. Park Avenue Securities LLC grew its position in Marriott International by 1.4% in the 2nd quarter. Park Avenue Securities LLC now owns 3,298 shares of the company’s stock worth $797,000 after purchasing an additional 46 shares during the last quarter. Finally, SeaCrest Wealth Management LLC raised its position in shares of Marriott International by 1.5% during the second quarter. SeaCrest Wealth Management LLC now owns 3,075 shares of the company’s stock valued at $743,000 after buying an additional 46 shares during the last quarter. 70.70% of the stock is currently owned by institutional investors.

Marriott International Stock Up 2.1 %

Shares of NASDAQ:MAR opened at $254.61 on Friday. The firm has a market cap of $72.72 billion, a P/E ratio of 26.28, a P/E/G ratio of 5.68 and a beta of 1.59. Marriott International, Inc. has a 12 month low of $180.75 and a 12 month high of $260.57. The company’s 50-day moving average price is $230.95 and its two-hundred day moving average price is $237.90.

Marriott International (NASDAQ:MAR) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.49 by $0.01. The business had revenue of $6.44 billion during the quarter, compared to analyst estimates of $6.47 billion. Marriott International had a net margin of 12.01% and a negative return on equity of 239.60%. Marriott International’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter last year, the business posted $2.26 earnings per share. As a group, equities analysts predict that Marriott International, Inc. will post 9.37 earnings per share for the current fiscal year.

Marriott International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, August 16th were issued a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 0.99%. The ex-dividend date was Friday, August 16th. Marriott International’s dividend payout ratio is 26.01%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Macquarie reiterated a “neutral” rating and issued a $245.00 price objective on shares of Marriott International in a research report on Friday, August 2nd. Truist Financial lowered their price target on shares of Marriott International from $263.00 to $254.00 and set a “hold” rating on the stock in a report on Tuesday, August 6th. Morgan Stanley reduced their price objective on shares of Marriott International from $268.00 to $250.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. Wells Fargo & Company dropped their price target on shares of Marriott International from $248.00 to $238.00 and set an “equal weight” rating for the company in a research report on Thursday, August 1st. Finally, UBS Group decreased their price objective on Marriott International from $267.00 to $244.00 and set a “neutral” rating on the stock in a report on Tuesday, August 13th. Thirteen investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $248.65.

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.