Meridian Wealth Advisors LLC Sells 2,137 Shares of The Home Depot, Inc. (NYSE:HD)

Meridian Wealth Advisors LLC cut its position in The Home Depot, Inc. (NYSE:HD) by 11.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,766 shares of the home improvement retailer’s stock after selling 2,137 shares during the quarter. Home Depot accounts for about 1.1% of Meridian Wealth Advisors LLC’s holdings, making the stock its 24th biggest holding. Meridian Wealth Advisors LLC’s holdings in Home Depot were worth $6,522,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. POM Investment Strategies LLC raised its holdings in Home Depot by 1.1% in the 4th quarter. POM Investment Strategies LLC now owns 2,117 shares of the home improvement retailer’s stock worth $824,000 after purchasing an additional 24 shares during the period. Center for Financial Planning Inc. raised its holdings in Home Depot by 0.5% in the 4th quarter. Center for Financial Planning Inc. now owns 4,653 shares of the home improvement retailer’s stock worth $1,810,000 after purchasing an additional 24 shares during the period. Insight Inv LLC raised its holdings in Home Depot by 2.0% in the 3rd quarter. Insight Inv LLC now owns 1,246 shares of the home improvement retailer’s stock worth $505,000 after purchasing an additional 25 shares during the period. Marino Stram & Associates LLC raised its holdings in Home Depot by 2.3% in the 4th quarter. Marino Stram & Associates LLC now owns 1,108 shares of the home improvement retailer’s stock worth $431,000 after purchasing an additional 25 shares during the period. Finally, Live Oak Private Wealth LLC raised its holdings in Home Depot by 0.5% in the 4th quarter. Live Oak Private Wealth LLC now owns 4,915 shares of the home improvement retailer’s stock worth $1,912,000 after purchasing an additional 25 shares during the period. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Trading Down 1.0 %

HD opened at $352.12 on Friday. The stock has a market cap of $349.78 billion, a price-to-earnings ratio of 23.92, a P/E/G ratio of 4.03 and a beta of 1.09. The stock’s 50 day moving average price is $393.97 and its 200-day moving average price is $398.90. The Home Depot, Inc. has a one year low of $323.77 and a one year high of $439.37. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS for the quarter, beating analysts’ consensus estimates of $3.04 by $0.09. The firm had revenue of $39.70 billion for the quarter, compared to analysts’ expectations of $39.15 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The company’s quarterly revenue was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.82 earnings per share. On average, equities analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be issued a $2.30 dividend. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date is Thursday, March 13th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.61%. Home Depot’s payout ratio is presently 61.66%.

Analyst Upgrades and Downgrades

HD has been the topic of a number of recent research reports. HSBC raised Home Depot from a “reduce” rating to a “hold” rating and raised their target price for the stock from $356.00 to $410.00 in a report on Wednesday, February 26th. KGI Securities raised Home Depot to a “strong-buy” rating in a report on Monday, March 3rd. Wedbush reissued an “outperform” rating and set a $440.00 price target on shares of Home Depot in a report on Wednesday, February 26th. Telsey Advisory Group reissued an “outperform” rating and set a $455.00 price target on shares of Home Depot in a report on Wednesday, February 26th. Finally, Piper Sandler decreased their price target on Home Depot from $455.00 to $435.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Nine research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $436.50.

Home Depot Profile

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.