Truist Financial Corp Has $12.83 Million Stock Holdings in Marriott International, Inc. (NASDAQ:MAR)

Truist Financial Corp lessened its holdings in Marriott International, Inc. (NASDAQ:MAR) by 4.1% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 53,044 shares of the company’s stock after selling 2,244 shares during the period. Truist Financial Corp’s holdings in Marriott International were worth $12,825,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in MAR. Roble Belko & Company Inc boosted its position in Marriott International by 845.5% in the first quarter. Roble Belko & Company Inc now owns 104 shares of the company’s stock valued at $26,000 after buying an additional 93 shares in the last quarter. Bangor Savings Bank raised its position in Marriott International by 131.1% in the 2nd quarter. Bangor Savings Bank now owns 104 shares of the company’s stock valued at $25,000 after purchasing an additional 59 shares during the last quarter. Hantz Financial Services Inc. bought a new stake in shares of Marriott International during the second quarter worth $26,000. Benjamin Edwards Inc. acquired a new stake in shares of Marriott International in the first quarter valued at $29,000. Finally, MFA Wealth Advisors LLC bought a new position in shares of Marriott International in the second quarter valued at about $28,000. 70.70% of the stock is owned by institutional investors and hedge funds.

Marriott International Price Performance

Shares of NASDAQ:MAR opened at $254.61 on Friday. The stock has a market capitalization of $72.72 billion, a PE ratio of 26.28, a price-to-earnings-growth ratio of 5.68 and a beta of 1.59. The company’s 50-day moving average price is $230.95 and its two-hundred day moving average price is $237.90. Marriott International, Inc. has a one year low of $180.75 and a one year high of $260.57.

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

Marriott International Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. UBS Group lowered their price objective on shares of Marriott International from $267.00 to $244.00 and set a “neutral” rating for the company in a research report on Tuesday, August 13th. Robert W. Baird decreased their price objective on Marriott International from $252.00 to $245.00 and set a “neutral” rating on the stock in a research report on Thursday, August 1st. Truist Financial dropped their price objective on Marriott International from $263.00 to $254.00 and set a “hold” rating for the company in a report on Tuesday, August 6th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Marriott International from $222.00 to $216.00 and set a “hold” rating for the company in a research report on Thursday, August 1st. Finally, Sanford C. Bernstein raised shares of Marriott International from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $247.00 to $262.00 in a research note on Thursday, August 29th. Thirteen equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $248.65.

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.