Smith Salley Wealth Management Buys 1,883 Shares of Lowe's Companies, Inc. (NYSE:LOW)

Smith Salley Wealth Management lifted its stake in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 1.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 124,897 shares of the home improvement retailer's stock after purchasing an additional 1,883 shares during the quarter. Lowe's Companies accounts for about 2.0% of Smith Salley Wealth Management's portfolio, making the stock its 11th largest position. Smith Salley Wealth Management's holdings in Lowe's Companies were worth $30,825,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Intech Investment Management LLC raised its holdings in Lowe's Companies by 1.7% in the 2nd quarter. Intech Investment Management LLC now owns 17,829 shares of the home improvement retailer's stock valued at $3,931,000 after buying an additional 298 shares during the last quarter. Canada Pension Plan Investment Board increased its stake in shares of Lowe's Companies by 52.9% in the second quarter. Canada Pension Plan Investment Board now owns 508,678 shares of the home improvement retailer's stock valued at $112,143,000 after buying an additional 176,048 shares during the period. AE Wealth Management LLC raised its holdings in Lowe's Companies by 52.7% during the 2nd quarter. AE Wealth Management LLC now owns 18,268 shares of the home improvement retailer's stock worth $4,027,000 after purchasing an additional 6,305 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in Lowe's Companies by 1.2% in the second quarter. Pacer Advisors Inc. now owns 41,091 shares of the home improvement retailer's stock valued at $9,059,000 after buying an additional 488 shares during the period. Finally, Sei Investments Co. lifted its stake in shares of Lowe's Companies by 2.0% in the 2nd quarter. Sei Investments Co. now owns 480,491 shares of the home improvement retailer's stock valued at $105,927,000 after purchasing an additional 9,228 shares during the period. Institutional investors own 74.06% of the company's stock.

Insider Buying and Selling

In related news, EVP Quonta D. Vance sold 7,198 shares of the firm's stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $274.37, for a total transaction of $1,974,915.26. Following the transaction, the executive vice president now directly owns 16,703 shares of the company's stock, valued at approximately $4,582,802.11. This trade represents a 30.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.26% of the stock is owned by company insiders.

Lowe's Companies Stock Up 1.0 %

Shares of LOW stock traded up $2.61 during trading on Friday, hitting $261.39. The company had a trading volume of 2,758,504 shares, compared to its average volume of 1,989,226. The stock's 50-day moving average is $260.10 and its two-hundred day moving average is $254.60. The stock has a market capitalization of $147.59 billion, a price-to-earnings ratio of 21.80, a price-to-earnings-growth ratio of 2.08 and a beta of 1.11. Lowe's Companies, Inc. has a 52 week low of $209.55 and a 52 week high of $287.01.

Lowe's Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 22nd will be issued a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date of this dividend is Wednesday, January 22nd. Lowe's Companies's dividend payout ratio is currently 38.37%.

Analyst Ratings Changes

A number of research firms have recently issued reports on LOW. Melius Research assumed coverage on shares of Lowe's Companies in a research report on Monday, September 23rd. They set a "buy" rating and a $290.00 price objective on the stock. Piper Sandler raised their price objective on Lowe's Companies from $262.00 to $307.00 and gave the company an "overweight" rating in a research note on Monday, September 30th. DA Davidson upped their target price on Lowe's Companies from $240.00 to $270.00 and gave the stock a "neutral" rating in a research report on Wednesday, November 20th. Telsey Advisory Group reissued an "outperform" rating and issued a $305.00 price target on shares of Lowe's Companies in a research report on Thursday, December 12th. Finally, Sanford C. Bernstein upped their price objective on shares of Lowe's Companies from $301.00 to $304.00 and gave the stock an "outperform" rating in a report on Thursday, December 12th. Ten equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $280.85.

About Lowe's Companies

Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It also provides home improvement products, such as appliances, seasonal and outdoor living, lawn and garden, lumber, kitchens and bath, tools, paint, millwork, hardware, flooring, rough plumbing, building materials, décor, and electrical.