Diversify Wealth Management LLC Has $4.95 Million Stake in The Home Depot, Inc. (NYSE:HD)

Diversify Wealth Management LLC reduced its holdings in The Home Depot, Inc. (NYSE:HD) by 8.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,394 shares of the home improvement retailer’s stock after selling 1,137 shares during the quarter. Diversify Wealth Management LLC’s holdings in Home Depot were worth $4,953,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. Pinnacle Associates Ltd. raised its stake in shares of Home Depot by 3.3% in the third quarter. Pinnacle Associates Ltd. now owns 150,079 shares of the home improvement retailer’s stock worth $60,812,000 after acquiring an additional 4,743 shares during the last quarter. First Trust Direct Indexing L.P. grew its stake in shares of Home Depot by 22.2% during the third quarter. First Trust Direct Indexing L.P. now owns 39,429 shares of the home improvement retailer’s stock valued at $15,977,000 after purchasing an additional 7,168 shares during the last quarter. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of Home Depot in the third quarter valued at approximately $253,000. Edge Financial Advisors LLC bought a new position in Home Depot in the 3rd quarter worth approximately $207,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its holdings in Home Depot by 2.0% during the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 254,540 shares of the home improvement retailer’s stock worth $102,498,000 after buying an additional 4,998 shares in the last quarter. 70.86% of the stock is currently owned by institutional investors.

Home Depot Stock Up 0.3 %

HD stock opened at $393.80 on Friday. The Home Depot, Inc. has a twelve month low of $281.61 and a twelve month high of $421.56. The company has a market cap of $390.50 billion, a price-to-earnings ratio of 26.41, a P/E/G ratio of 2.78 and a beta of 1.00. The company has a quick ratio of 0.33, a current ratio of 1.15 and a debt-to-equity ratio of 11.74. The business has a 50 day moving average price of $392.17 and a two-hundred day moving average price of $361.25.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share for the quarter, beating the consensus estimate of $4.59 by $0.08. Home Depot had a net margin of 9.71% and a return on equity of 681.27%. The business had revenue of $43.18 billion during the quarter, compared to analysts’ expectations of $42.57 billion. During the same period last year, the business earned $4.65 earnings per share. The firm’s revenue was up .6% on a year-over-year basis. Analysts anticipate that The Home Depot, Inc. will post 15.01 EPS for the current fiscal year.

Home Depot Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Thursday, August 29th were issued a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date was Thursday, August 29th. Home Depot’s payout ratio is currently 60.36%.

Analyst Ratings Changes

Several equities research analysts have recently commented on HD shares. Sanford C. Bernstein began coverage on Home Depot in a research note on Tuesday, October 22nd. They issued a “market perform” rating and a $451.00 target price for the company. Loop Capital upgraded Home Depot from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $360.00 to $460.00 in a research report on Wednesday, October 9th. UBS Group upped their target price on shares of Home Depot from $400.00 to $425.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Oppenheimer lifted their price target on shares of Home Depot from $345.00 to $400.00 and gave the stock a “market perform” rating in a research report on Tuesday, September 24th. Finally, Piper Sandler increased their price objective on shares of Home Depot from $387.00 to $455.00 and gave the company an “overweight” rating in a report on Monday, September 30th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $413.48.

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.