NTV Asset Management LLC trimmed its holdings in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 8.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,300 shares of the home improvement retailer's stock after selling 750 shares during the period. NTV Asset Management LLC's holdings in Home Depot were worth $3,042,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in the company. Wealth Management Partners LLC grew its position in Home Depot by 0.6% in the 1st quarter. Wealth Management Partners LLC now owns 6,506 shares of the home improvement retailer's stock valued at $2,384,000 after buying an additional 36 shares in the last quarter. Arbor Capital Management Inc. ADV grew its position in Home Depot by 4.8% in the 1st quarter. Arbor Capital Management Inc. ADV now owns 4,784 shares of the home improvement retailer's stock valued at $1,757,000 after buying an additional 221 shares in the last quarter. Disciplined Investors L.L.C. bought a new position in Home Depot in the 4th quarter valued at about $409,000. ARS Wealth Advisors Group LLC grew its position in Home Depot by 0.8% in the 1st quarter. ARS Wealth Advisors Group LLC now owns 31,728 shares of the home improvement retailer's stock valued at $11,628,000 after buying an additional 239 shares in the last quarter. Finally, JPL Wealth Management LLC bought a new position in Home Depot in the 4th quarter valued at about $3,193,000. 70.86% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on HD. Robert W. Baird decreased their target price on shares of Home Depot from $430.00 to $425.00 and set an "outperform" rating for the company in a research report on Wednesday, May 21st. Piper Sandler reduced their price objective on shares of Home Depot from $435.00 to $418.00 and set an "overweight" rating for the company in a research note on Monday, March 24th. Gordon Haskett raised their price objective on shares of Home Depot from $350.00 to $360.00 in a research report on Tuesday, May 20th. Morgan Stanley reiterated an "overweight" rating and set a $415.00 price target (up previously from $410.00) on shares of Home Depot in a report on Tuesday, May 20th. Finally, Truist Financial increased their price target on Home Depot from $393.00 to $417.00 and gave the company a "buy" rating in a report on Tuesday, May 20th. Seven investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $426.77.
Get Our Latest Stock Report on HD
Insider Transactions at Home Depot
In related news, EVP Teresa Wynn Roseborough sold 5,406 shares of Home Depot stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $369.28, for a total value of $1,996,327.68. Following the completion of the sale, the executive vice president directly owned 17,367 shares in the company, valued at $6,413,285.76. This trade represents a 23.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Fahim Siddiqui sold 2,600 shares of Home Depot stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $367.14, for a total value of $954,564.00. Following the completion of the sale, the executive vice president owned 7,951 shares of the company's stock, valued at approximately $2,919,130.14. The trade was a 24.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.10% of the stock is owned by company insiders.
Home Depot Stock Performance
Home Depot stock opened at $367.51 on Tuesday. The stock has a 50-day simple moving average of $365.35 and a 200 day simple moving average of $375.98. The company has a quick ratio of 0.28, a current ratio of 1.09 and a debt-to-equity ratio of 5.95. The Home Depot, Inc. has a 12-month low of $326.31 and a 12-month high of $439.37. The stock has a market capitalization of $365.65 billion, a price-to-earnings ratio of 24.93, a P/E/G ratio of 3.53 and a beta of 1.00.
Home Depot (NYSE:HD - Get Free Report) last released its quarterly earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.59 by ($0.03). The business had revenue of $39.86 billion during the quarter, compared to the consensus estimate of $39.24 billion. Home Depot had a net margin of 8.98% and a return on equity of 242.51%. The business's quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.63 earnings per share. On average, research analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.
Home Depot Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Thursday, June 5th were given a $2.30 dividend. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $9.20 dividend on an annualized basis and a yield of 2.50%. Home Depot's payout ratio is 62.42%.
About Home Depot
(
Free Report)
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.
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