Meridian Wealth Advisors LLC Has $6.52 Million Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Meridian Wealth Advisors LLC decreased its holdings in The Home Depot, Inc. (NYSE:HD - Free Report) by 11.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 16,766 shares of the home improvement retailer's stock after selling 2,137 shares during the quarter. Home Depot accounts for approximately 1.1% of Meridian Wealth Advisors LLC's holdings, making the stock its 24th largest position. Meridian Wealth Advisors LLC's holdings in Home Depot were worth $6,522,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of HD. K.J. Harrison & Partners Inc boosted its stake in Home Depot by 65.2% during the fourth quarter. K.J. Harrison & Partners Inc now owns 9,100 shares of the home improvement retailer's stock valued at $3,535,000 after buying an additional 3,590 shares in the last quarter. Ashton Thomas Private Wealth LLC grew its stake in shares of Home Depot by 19.5% in the 4th quarter. Ashton Thomas Private Wealth LLC now owns 23,758 shares of the home improvement retailer's stock worth $9,242,000 after purchasing an additional 3,873 shares during the last quarter. Pensionfund Sabic raised its holdings in shares of Home Depot by 51.4% in the 4th quarter. Pensionfund Sabic now owns 11,200 shares of the home improvement retailer's stock worth $4,357,000 after purchasing an additional 3,800 shares in the last quarter. Swedbank AB lifted its stake in Home Depot by 17.1% during the third quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer's stock valued at $368,542,000 after purchasing an additional 132,967 shares during the last quarter. Finally, Wedmont Private Capital boosted its holdings in Home Depot by 12.5% during the fourth quarter. Wedmont Private Capital now owns 13,569 shares of the home improvement retailer's stock worth $5,291,000 after buying an additional 1,506 shares in the last quarter. 70.86% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Piper Sandler reduced 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. Robert W. Baird decreased their target price on shares of Home Depot from $440.00 to $430.00 and set an "outperform" rating for the company in a report on Wednesday, February 26th. Wells Fargo & Company boosted their price target on shares of Home Depot from $440.00 to $450.00 and gave the company an "overweight" rating in a report on Thursday, February 13th. HSBC raised shares of Home Depot from a "reduce" rating to a "hold" rating and raised their price objective for the stock from $356.00 to $410.00 in a research note on Wednesday, February 26th. Finally, JPMorgan Chase & Co. raised their target price on Home Depot from $450.00 to $475.00 and gave the stock an "overweight" rating in a research report on Monday, February 10th. Nine analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Home Depot has an average rating of "Moderate Buy" and a consensus price target of $435.85.

Home Depot Stock Performance

NYSE HD traded up $1.02 during trading on Wednesday, hitting $362.01. The company's stock had a trading volume of 3,140,663 shares, compared to its average volume of 3,218,318. The Home Depot, Inc. has a 52 week low of $323.77 and a 52 week high of $439.37. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The firm has a market cap of $359.61 billion, a P/E ratio of 24.59, a price-to-earnings-growth ratio of 4.03 and a beta of 1.09. The firm has a 50 day moving average price of $391.94 and a 200 day moving average price of $398.90.

Home Depot (NYSE:HD - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.04 by $0.09. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The firm had revenue of $39.70 billion for the quarter, compared to analyst estimates of $39.15 billion. During the same period in the previous year, the company posted $2.82 earnings per share. The company's quarterly revenue was up 14.1% compared to the same quarter last year. Equities research analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be paid a $2.30 dividend. This is a boost from Home Depot's previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.54%. Home Depot's dividend payout ratio is currently 61.66%.

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.