Pinnacle Wealth Planning Services Inc. Cuts Holdings in The Home Depot, Inc. (NYSE:HD)

Pinnacle Wealth Planning Services Inc. reduced its stake in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 28.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,613 shares of the home improvement retailer's stock after selling 1,854 shares during the quarter. Pinnacle Wealth Planning Services Inc.'s holdings in Home Depot were worth $1,794,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in HD. Wealth Group Ltd. raised its stake in shares of Home Depot by 5.0% in the fourth quarter. Wealth Group Ltd. now owns 563 shares of the home improvement retailer's stock worth $219,000 after purchasing an additional 27 shares during the last quarter. Tallon Kerry Patrick acquired a new stake in Home Depot during the fourth quarter worth about $281,000. Capital & Planning LLC grew its holdings in Home Depot by 110.2% during the fourth quarter. Capital & Planning LLC now owns 1,074 shares of the home improvement retailer's stock worth $418,000 after acquiring an additional 563 shares during the period. Ironwood Wealth Management LLC. grew its holdings in Home Depot by 0.7% during the fourth quarter. Ironwood Wealth Management LLC. now owns 4,537 shares of the home improvement retailer's stock worth $1,765,000 after acquiring an additional 32 shares during the period. Finally, Red Door Wealth Management LLC grew its holdings in Home Depot by 5.0% during the fourth quarter. Red Door Wealth Management LLC now owns 25,108 shares of the home improvement retailer's stock worth $9,767,000 after acquiring an additional 1,186 shares during the period. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Home Depot Trading Down 0.1%

Home Depot stock traded down $0.44 during trading on Friday, reaching $367.85. 4,110,311 shares of the company were exchanged, compared to its average volume of 3,433,492. The Home Depot, Inc. has a 52-week low of $323.93 and a 52-week high of $439.37. 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 company has a market capitalization of $365.65 billion, a P/E ratio of 24.99, a PEG ratio of 4.03 and a beta of 1.05. The stock's 50 day simple moving average is $360.92 and its two-hundred day simple moving average is $386.04.

Home Depot (NYSE:HD - Get Free Report) last posted its earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 EPS for the quarter, missing analysts' consensus estimates of $3.59 by ($0.03). Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The business had revenue of $39.86 billion during the quarter, compared to analysts' expectations of $39.24 billion. During the same quarter in the prior year, the firm earned $3.63 EPS. Home Depot's revenue for the quarter was up 9.4% compared to the same quarter last year. On average, equities research analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Shareholders of record on Thursday, June 5th will be given a $2.30 dividend. The ex-dividend date is Thursday, June 5th. This represents a $9.20 dividend on an annualized basis and a yield of 2.50%. Home Depot's dividend payout ratio is currently 62.42%.

Analyst Ratings Changes

HD has been the topic of several analyst reports. Sanford C. Bernstein reaffirmed a "market perform" rating and set a $398.00 target price (up from $380.00) on shares of Home Depot in a report on Wednesday, May 21st. Wells Fargo & Company dropped their price objective on Home Depot from $445.00 to $420.00 and set an "overweight" rating on the stock in a report on Thursday, May 8th. TD Securities reissued a "buy" rating and issued a $470.00 price objective on shares of Home Depot in a report on Wednesday, May 21st. Truist Financial raised their price objective on Home Depot from $393.00 to $417.00 and gave the company a "buy" rating in a report on Tuesday, May 20th. Finally, DA Davidson dropped their price objective on Home Depot from $470.00 to $450.00 in a report on Tuesday, May 20th. Seven analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned 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 price target of $426.77.

Insider Buying and Selling at Home Depot

In related news, EVP Fahim Siddiqui sold 2,600 shares of the business's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $367.14, for a total value of $954,564.00. Following the sale, the executive vice president now owns 7,951 shares in the company, valued at approximately $2,919,130.14. The trade was a 24.64% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the business's stock in a transaction on Wednesday, May 28th. The shares were 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 now owns 17,367 shares in the company, valued at $6,413,285.76. This represents a 23.74% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.10% of the company's stock.

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.