Avidian Wealth Enterprises LLC Sells 562 Shares of The Home Depot, Inc. (NYSE:HD)

Avidian Wealth Enterprises LLC decreased its stake in The Home Depot, Inc. (NYSE:HD) by 4.2% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 12,843 shares of the home improvement retailer’s stock after selling 562 shares during the period. Avidian Wealth Enterprises LLC’s holdings in Home Depot were worth $5,204,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Bailard Inc. increased its holdings in Home Depot by 1.6% in the 3rd quarter. Bailard Inc. now owns 83,551 shares of the home improvement retailer’s stock worth $33,855,000 after acquiring an additional 1,322 shares during the last quarter. Focused Wealth Management Inc increased its stake in shares of Home Depot by 5.8% in the third quarter. Focused Wealth Management Inc now owns 1,057 shares of the home improvement retailer’s stock worth $428,000 after purchasing an additional 58 shares in the last quarter. Cornerstone Capital Inc. increased its stake in shares of Home Depot by 6.8% in the third quarter. Cornerstone Capital Inc. now owns 56,031 shares of the home improvement retailer’s stock worth $22,704,000 after purchasing an additional 3,546 shares in the last quarter. MinichMacGregor Wealth Management LLC bought a new stake in shares of Home Depot in the third quarter valued at approximately $204,000. Finally, Global Wealth Management Investment Advisory Inc. boosted its holdings in Home Depot by 3.4% in the 3rd quarter. Global Wealth Management Investment Advisory Inc. now owns 16,376 shares of the home improvement retailer’s stock worth $6,635,000 after buying an additional 546 shares during the period. Institutional investors own 70.86% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on HD. UBS Group boosted their target price on shares of Home Depot from $400.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Sanford C. Bernstein started coverage on Home Depot in a report on Tuesday, October 22nd. They set a “market perform” rating and a $451.00 price objective on the stock. Jefferies Financial Group initiated coverage on Home Depot in a research note on Tuesday, July 16th. They issued a “buy” rating and a $426.00 target price for the company. Truist Financial upped their price target on Home Depot from $395.00 to $455.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Finally, Evercore ISI cut their price objective on shares of Home Depot from $415.00 to $400.00 and set an “outperform” rating for the company in a research report on Wednesday, August 14th. One analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $415.26.

Home Depot Price Performance

Shares of Home Depot stock opened at $400.21 on Wednesday. The company has a debt-to-equity ratio of 11.74, a current ratio of 1.15 and a quick ratio of 0.33. The Home Depot, Inc. has a one year low of $286.79 and a one year high of $421.56. The business’s 50 day simple moving average is $393.49 and its two-hundred day simple moving average is $362.92. The stock has a market capitalization of $397.53 billion, a P/E ratio of 26.93, a price-to-earnings-growth ratio of 2.72 and a beta of 1.01.

Home Depot (NYSE:HD) last issued its earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 EPS for the quarter, topping the consensus estimate of $4.59 by $0.08. The company had revenue of $43.18 billion for the quarter, compared to the consensus estimate of $42.57 billion. Home Depot had a net margin of 9.71% and a return on equity of 733.61%. The firm’s revenue for the quarter was up .6% on a year-over-year basis. During the same period in the previous year, the firm earned $4.65 earnings per share. Analysts forecast that The Home Depot, Inc. will post 15.01 EPS for the current year.

Home Depot Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Thursday, August 29th were paid a $2.25 dividend. The ex-dividend date was Thursday, August 29th. This represents a $9.00 annualized dividend and a dividend yield of 2.25%. Home Depot’s payout ratio is presently 60.57%.

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.