The Home Depot, Inc. (NYSE:HD) Shares Sold by Financial Network Wealth Management LLC

Financial Network Wealth Management LLC lowered its stake in The Home Depot, Inc. (NYSE:HD) by 3.3% during the fourth quarter, HoldingsChannel reports. The firm owned 3,416 shares of the home improvement retailer’s stock after selling 116 shares during the quarter. Financial Network Wealth Management LLC’s holdings in Home Depot were worth $1,328,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the stock. Lee Danner & Bass Inc. grew its holdings in Home Depot by 6.7% during the fourth quarter. Lee Danner & Bass Inc. now owns 28,779 shares of the home improvement retailer’s stock worth $11,195,000 after acquiring an additional 1,807 shares during the period. Independent Solutions Wealth Management LLC grew its holdings in Home Depot by 0.5% during the fourth quarter. Independent Solutions Wealth Management LLC now owns 8,696 shares of the home improvement retailer’s stock worth $3,382,000 after acquiring an additional 44 shares during the period. Kiker Wealth Management LLC acquired a new position in Home Depot during the fourth quarter worth $535,000. Antonelli Financial Advisors LLC acquired a new position in Home Depot during the fourth quarter worth $301,000. Finally, Ballast Advisors LLC grew its holdings in Home Depot by 8.8% during the fourth quarter. Ballast Advisors LLC now owns 2,065 shares of the home improvement retailer’s stock worth $803,000 after acquiring an additional 167 shares during the period. Institutional investors and hedge funds own 70.86% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on HD. Hsbc Global Res raised Home Depot from a “moderate sell” rating to a “hold” rating in a report on Wednesday, February 26th. Guggenheim reaffirmed a “buy” rating and set a $450.00 price objective on shares of Home Depot in a report on Wednesday, February 26th. Royal Bank of Canada dropped their price objective on Home Depot from $431.00 to $424.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 26th. Truist Financial lowered their target price on Home Depot from $467.00 to $437.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Finally, HSBC raised Home Depot from a “reduce” rating to a “hold” rating and upped their target price for the company from $356.00 to $410.00 in a report on Wednesday, February 26th. Nine research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $436.50.

Home Depot Stock Up 0.5 %

Shares of NYSE:HD opened at $355.31 on Friday. The stock’s 50-day moving average price is $394.73 and its two-hundred day moving average price is $398.78. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The Home Depot, Inc. has a 12-month low of $323.77 and a 12-month high of $439.37. The firm has a market cap of $352.95 billion, a price-to-earnings ratio of 24.14, a PEG 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.04 by $0.09. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The firm had revenue of $39.70 billion for the quarter, compared to analyst estimates of $39.15 billion. During the same period last year, the company earned $2.82 EPS. The firm’s quarterly revenue was up 14.1% on a year-over-year basis. On average, research analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be paid a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a yield of 2.59%. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date is Thursday, March 13th. Home Depot’s dividend payout ratio (DPR) is presently 61.66%.

Home Depot Company 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.