Envestnet Asset Management Inc. Has $41.81 Million Holdings in Marriott International, Inc. (NASDAQ:MAR)

Envestnet Asset Management Inc. lowered its position in shares of Marriott International, Inc. (NASDAQ:MAR) by 17.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 172,951 shares of the company’s stock after selling 35,985 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Marriott International were worth $41,814,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of MAR. Bangor Savings Bank lifted its position in shares of Marriott International by 131.1% during the 2nd quarter. Bangor Savings Bank now owns 104 shares of the company’s stock valued at $25,000 after acquiring an additional 59 shares during the period. Roble Belko & Company Inc increased its stake 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 purchasing an additional 93 shares in the last quarter. Hantz Financial Services Inc. bought a new position in shares of Marriott International during the 2nd quarter worth about $26,000. MFA Wealth Advisors LLC acquired a new stake in shares of Marriott International in the 2nd quarter valued at about $28,000. Finally, Benjamin Edwards Inc. acquired a new position in Marriott International during the 1st quarter worth approximately $29,000. 70.70% of the stock is currently owned by institutional investors and hedge funds.

Marriott International Stock Performance

Shares of MAR stock opened at $244.46 on Friday. Marriott International, Inc. has a 52 week low of $180.75 and a 52 week high of $260.57. The firm’s 50-day simple moving average is $229.76 and its two-hundred day simple moving average is $237.90. The firm has a market cap of $69.82 billion, a price-to-earnings ratio of 25.23, a P/E/G ratio of 5.34 and a beta of 1.59.

Marriott International (NASDAQ:MAR) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $2.50 earnings per share 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 business had revenue of $6.44 billion during the quarter, compared to analyst estimates of $6.47 billion. During the same period in the prior year, the company earned $2.26 earnings per share. Marriott International’s revenue was up 6.0% compared to the same quarter last year. Analysts forecast that Marriott International, Inc. will post 9.37 earnings per share for the current year.

Marriott International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, August 16th will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is Friday, August 16th. This represents a $2.52 dividend on an annualized basis and a yield of 1.03%. Marriott International’s dividend payout ratio is presently 26.01%.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Wells Fargo & Company reduced their price objective on Marriott International from $248.00 to $238.00 and set an “equal weight” rating for the company in a research note on Thursday, August 1st. Truist Financial lowered their price objective 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. Susquehanna started coverage on shares of Marriott International in a report on Friday, June 21st. They set a “neutral” rating and a $255.00 price objective for the company. UBS Group lowered their target price on shares of Marriott International from $267.00 to $244.00 and set a “neutral” rating on the stock in a report on Tuesday, August 13th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on Marriott International from $222.00 to $216.00 and set a “hold” rating for the company in a report on Thursday, August 1st. Thirteen equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $247.33.

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.