Alliancebernstein L.P. Has $3.52 Billion Holdings in The Home Depot, Inc. (NYSE:HD)

Alliancebernstein L.P. boosted its position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 5.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,052,091 shares of the home improvement retailer's stock after acquiring an additional 468,203 shares during the quarter. Home Depot accounts for approximately 1.2% of Alliancebernstein L.P.'s investment portfolio, making the stock its 13th biggest holding. Alliancebernstein L.P. owned approximately 0.91% of Home Depot worth $3,521,173,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. O Shaughnessy Asset Management LLC lifted its position in shares of Home Depot by 11.1% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 176,023 shares of the home improvement retailer's stock valued at $68,471,000 after buying an additional 17,615 shares during the last quarter. Bcwm LLC bought a new position in Home Depot during the fourth quarter worth $10,286,000. Joseph Group Capital Management increased its holdings in shares of Home Depot by 10.1% in the fourth quarter. Joseph Group Capital Management now owns 12,026 shares of the home improvement retailer's stock valued at $4,678,000 after purchasing an additional 1,103 shares during the last quarter. California Public Employees Retirement System raised its position in shares of Home Depot by 1.5% in the fourth quarter. California Public Employees Retirement System now owns 2,494,928 shares of the home improvement retailer's stock valued at $970,502,000 after purchasing an additional 36,876 shares during the period. Finally, Summit Securities Group LLC acquired a new stake in shares of Home Depot during the 4th quarter worth about $934,000. Institutional investors and hedge funds own 70.86% of the company's stock.

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Home Depot Price Performance

HD traded up $5.73 on Wednesday, reaching $371.25. The stock had a trading volume of 3,158,763 shares, compared to its average volume of 3,446,491. The firm has a 50-day moving average of $388.06 and a 200-day moving average of $398.84. The Home Depot, Inc. has a fifty-two week low of $323.77 and a fifty-two week high of $439.37. The company has a market capitalization of $369.03 billion, a price-to-earnings ratio of 25.22, a price-to-earnings-growth ratio of 4.03 and a beta of 1.08. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD - Get Free Report) last issued its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.04 by $0.09. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The business had revenue of $39.70 billion during the quarter, compared to analyst estimates of $39.15 billion. During the same quarter last year, the business earned $2.82 EPS. The firm's quarterly revenue was up 14.1% on a year-over-year basis. As a group, sell-side analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were given a dividend of $2.30 per share. This is a positive change from Home Depot's previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a yield of 2.48%. The ex-dividend date was Thursday, March 13th. Home Depot's dividend payout ratio (DPR) is currently 61.66%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on HD shares. Hsbc Global Res raised shares of Home Depot from a "moderate sell" rating to a "hold" rating in a report on Wednesday, February 26th. Guggenheim reissued a "buy" rating and set a $450.00 price target on shares of Home Depot in a report on Wednesday, February 26th. JPMorgan Chase & Co. upped their price objective on Home Depot from $450.00 to $475.00 and gave the company an "overweight" rating in a report on Monday, February 10th. Piper Sandler dropped their target price on Home Depot from $435.00 to $418.00 and set an "overweight" rating for the company in a report on Monday, March 24th. Finally, Wedbush reissued an "outperform" rating and issued a $440.00 target price on shares of Home Depot in a research report on Wednesday, February 26th. Nine research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $435.85.

About Home Depot

The Home Depot, Inc operates as a home improvement retailer in the United States and internationally. It sells various building materials, home improvement products, lawn and garden products, and décor products, as well as facilities maintenance, repair, and operations products. The company also offers installation services for flooring, water heaters, bath, garage doors, cabinets, cabinet makeovers, countertops, sheds, furnaces and central air systems, and windows.