Apollon Wealth Management LLC Cuts Stock Holdings in Marriott International, Inc. (NASDAQ:MAR)

Apollon Wealth Management LLC trimmed its position in shares of Marriott International, Inc. (NASDAQ:MAR) by 13.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,270 shares of the company’s stock after selling 785 shares during the period. Apollon Wealth Management LLC’s holdings in Marriott International were worth $1,310,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Venturi Wealth Management LLC grew its holdings in Marriott International by 37.5% in the third quarter. Venturi Wealth Management LLC now owns 275 shares of the company’s stock worth $68,000 after purchasing an additional 75 shares during the period. Ashton Thomas Securities LLC purchased a new stake in shares of Marriott International during the third quarter valued at approximately $97,000. Jensen Investment Management Inc. purchased a new stake in shares of Marriott International during the third quarter valued at approximately $793,000. Baker Avenue Asset Management LP grew its holdings in shares of Marriott International by 174.3% during the third quarter. Baker Avenue Asset Management LP now owns 20,780 shares of the company’s stock valued at $5,166,000 after buying an additional 13,204 shares during the last quarter. Finally, Axxcess Wealth Management LLC boosted its holdings in Marriott International by 4.2% in the third quarter. Axxcess Wealth Management LLC now owns 11,684 shares of the company’s stock worth $2,905,000 after purchasing an additional 476 shares during the last quarter. 70.70% of the stock is owned by institutional investors.

Insider Activity

In related news, EVP Benjamin T. Breland sold 500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $274.49, for a total value of $137,245.00. Following the transaction, the executive vice president now owns 12,286 shares in the company, valued at approximately $3,372,384.14. This trade represents a 3.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Kathleen K. Oberg sold 2,360 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $285.41, for a total transaction of $673,567.60. Following the completion of the transaction, the chief financial officer now owns 39,726 shares in the company, valued at $11,338,197.66. The trade was a 5.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 12,108 shares of company stock valued at $3,434,439 in the last 90 days. 12.32% of the stock is currently owned by insiders.

Marriott International Stock Performance

Shares of NASDAQ MAR opened at $282.02 on Friday. The firm has a market capitalization of $78.37 billion, a P/E ratio of 29.50, a PEG ratio of 5.63 and a beta of 1.58. Marriott International, Inc. has a one year low of $200.94 and a one year high of $289.04. The company’s fifty day moving average is $254.51 and its two-hundred day moving average is $241.18.

Marriott International (NASDAQ:MAR) last released its quarterly earnings results on Monday, November 4th. The company reported $2.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.31 by ($0.05). Marriott International had a negative return on equity of 177.91% and a net margin of 11.18%. The firm had revenue of $6.26 billion for the quarter, compared to analyst estimates of $6.27 billion. During the same period last year, the firm earned $2.11 EPS. The company’s quarterly revenue was up 5.5% compared to the same quarter last year. On average, sell-side analysts forecast that Marriott International, Inc. will post 9.26 earnings per share for the current fiscal year.

Marriott International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Thursday, November 21st will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 0.89%. The ex-dividend date is Thursday, November 21st. Marriott International’s payout ratio is 26.36%.

Analyst Ratings Changes

Several research firms have weighed in on MAR. Bank of America increased their price target on shares of Marriott International from $275.00 to $300.00 and gave the stock a “buy” rating in a research report on Monday, October 21st. Barclays lifted their price objective on shares of Marriott International from $240.00 to $249.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 5th. Evercore ISI lifted their price objective on shares of Marriott International from $245.00 to $270.00 and gave the stock an “in-line” rating in a research note on Monday, October 21st. The Goldman Sachs Group initiated coverage on shares of Marriott International in a research note on Wednesday, September 18th. They set a “buy” rating and a $267.00 price target for the company. Finally, Sanford C. Bernstein lifted their price target on shares of Marriott International from $262.00 to $290.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. Thirteen research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $259.00.

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.