Oak Harbor Wealth Partners LLC Sells 113 Shares of The Home Depot, Inc. (NYSE:HD)

Oak Harbor Wealth Partners LLC trimmed its stake in The Home Depot, Inc. (NYSE:HD) by 1.2% during the 4th quarter, HoldingsChannel reports. The fund owned 9,549 shares of the home improvement retailer’s stock after selling 113 shares during the quarter. Home Depot comprises 1.1% of Oak Harbor Wealth Partners LLC’s holdings, making the stock its 24th biggest position. Oak Harbor Wealth Partners LLC’s holdings in Home Depot were worth $3,714,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Synergy Asset Management LLC bought a new stake in Home Depot in the fourth quarter worth $26,000. Wingate Wealth Advisors Inc. purchased a new position in shares of Home Depot in the fourth quarter worth $28,000. Bradley & Co. Private Wealth Management LLC purchased a new position in shares of Home Depot in the fourth quarter worth $32,000. Legacy Investment Solutions LLC purchased a new position in shares of Home Depot in the third quarter worth $41,000. Finally, Marshall Investment Management LLC purchased a new position in shares of Home Depot in the fourth quarter worth $41,000. 70.86% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. JPMorgan Chase & Co. boosted their price target on Home Depot from $450.00 to $475.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Telsey Advisory Group restated an “outperform” rating and issued a $455.00 price target on shares of Home Depot in a research note on Wednesday, February 26th. Robert W. Baird decreased their price target on Home Depot from $440.00 to $430.00 and set an “outperform” rating for the company in a research note on Wednesday, February 26th. Wedbush reiterated an “outperform” rating and set a $440.00 price objective on shares of Home Depot in a research report on Wednesday, February 26th. Finally, Wells Fargo & Company upped their price objective on Home Depot from $440.00 to $450.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Nine analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $436.50.

Home Depot Stock Performance

NYSE HD opened at $376.66 on Friday. The firm has a market cap of $374.16 billion, a price-to-earnings ratio of 25.59, a price-to-earnings-growth ratio of 4.03 and a beta of 1.05. 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 business has a 50-day moving average price of $400.21 and a 200-day moving average price of $399.59. The Home Depot, Inc. has a twelve month low of $323.77 and a twelve month high of $439.37.

Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, topping analysts’ consensus estimates of $3.04 by $0.09. The firm had revenue of $39.70 billion during the quarter, compared to analyst estimates of $39.15 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The business’s quarterly revenue was up 14.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.82 earnings per share. As a group, equities research analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current fiscal 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 paid a dividend of $2.30 per share. The ex-dividend date of this dividend is Thursday, March 13th. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 dividend on an annualized basis and a yield of 2.44%. Home Depot’s dividend payout ratio is presently 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.