GC Wealth Management RIA LLC Trims Position in The Home Depot, Inc. (NYSE:HD)

GC Wealth Management RIA LLC lessened its stake in The Home Depot, Inc. (NYSE:HD) by 44.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,501 shares of the home improvement retailer’s stock after selling 1,994 shares during the quarter. GC Wealth Management RIA LLC’s holdings in Home Depot were worth $973,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in HD. POM Investment Strategies LLC grew its position in shares of 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 buying an additional 24 shares during the last quarter. Center for Financial Planning Inc. grew its position in shares of 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 buying an additional 24 shares during the last quarter. Insight Inv LLC grew its position in shares of 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 buying an additional 25 shares during the last quarter. Marino Stram & Associates LLC grew its position in shares of 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 buying an additional 25 shares during the last quarter. Finally, Live Oak Private Wealth LLC boosted its stake 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 in the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Wall Street Analyst Weigh In

HD has been the subject of a number of recent analyst reports. Bank of America lifted their target price on shares of Home Depot from $425.00 to $450.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. KGI Securities upgraded shares of Home Depot to a “strong-buy” rating in a research note on Monday, March 3rd. Mizuho lifted their target price on shares of Home Depot from $435.00 to $440.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Truist Financial lowered their target price on shares of Home Depot from $467.00 to $437.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Finally, HSBC upgraded shares of Home Depot from a “reduce” rating to a “hold” rating and lifted their target price for the stock from $356.00 to $410.00 in a research note on Wednesday, February 26th. Nine investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $436.50.

Home Depot Stock Performance

HD opened at $374.13 on Tuesday. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The firm has a fifty day moving average price of $399.91 and a 200 day moving average price of $400.08. The Home Depot, Inc. has a 1 year low of $323.77 and a 1 year high of $439.37. The stock has a market cap of $371.65 billion, a P/E ratio of 25.42, a P/E/G ratio of 4.03 and a beta of 1.09.

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

Home Depot Increases Dividend

The business 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 represents a $9.20 annualized dividend and a yield of 2.46%. 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. Home Depot’s payout ratio is presently 61.66%.

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.