Stablepoint Partners LLC Cuts Stake in The Home Depot, Inc. (NYSE:HD)

Stablepoint Partners LLC cut its stake in The Home Depot, Inc. (NYSE:HD) by 34.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 968 shares of the home improvement retailer’s stock after selling 502 shares during the quarter. Stablepoint Partners LLC’s holdings in Home Depot were worth $377,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in HD. Requisite Capital Management LLC acquired a new stake in shares of Home Depot in the fourth quarter valued at approximately $409,000. Navis Wealth Advisors LLC increased its stake in shares of Home Depot by 19.3% in the 4th quarter. Navis Wealth Advisors LLC now owns 1,324 shares of the home improvement retailer’s stock worth $515,000 after acquiring an additional 214 shares during the last quarter. Clarendon Private LLC purchased a new position in shares of Home Depot during the 4th quarter worth $627,000. Avaii Wealth Management LLC acquired a new position in shares of Home Depot during the 4th quarter valued at about $239,000. Finally, Affinity Wealth Management LLC grew its holdings in shares of Home Depot by 2.5% in the fourth quarter. Affinity Wealth Management LLC now owns 18,467 shares of the home improvement retailer’s stock valued at $7,184,000 after purchasing an additional 458 shares during the period. 70.86% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Loop Capital upgraded shares of Home Depot from a “hold” rating to a “buy” rating and boosted their target price for the company from $360.00 to $460.00 in a report on Wednesday, October 9th. Barclays increased their price target on Home Depot from $372.00 to $420.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Truist Financial boosted their price objective on shares of Home Depot from $459.00 to $465.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Guggenheim lifted their price target on shares of Home Depot from $390.00 to $450.00 and gave the company a “buy” rating in a research report on Friday, October 4th. Finally, Wells Fargo & Company upped their price objective on shares of Home Depot from $400.00 to $430.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have issued a buy rating to the company. According to data from MarketBeat.com, Home Depot presently has an average rating of “Moderate Buy” and a consensus price target of $426.00.

Home Depot Trading Down 1.4 %

NYSE HD opened at $418.83 on Wednesday. The firm’s fifty day moving average price is $407.42 and its 200 day moving average price is $391.36. The Home Depot, Inc. has a 12 month low of $323.77 and a 12 month 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 $416.04 billion, a price-to-earnings ratio of 28.45, a price-to-earnings-growth ratio of 4.32 and a beta of 1.05.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.64 by $0.14. The company had revenue of $40.22 billion for the quarter, compared to analyst estimates of $39.31 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The business’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter last year, the company posted $3.81 earnings per share. On average, sell-side analysts expect that The Home Depot, Inc. will post 15.12 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Wednesday, November 27th were paid a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date of this dividend was Wednesday, November 27th. Home Depot’s dividend payout ratio is currently 61.14%.

Insiders Place Their Bets

In other news, EVP Teresa Wynn Roseborough sold 22,084 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $408.91, for a total value of $9,030,368.44. Following the transaction, the executive vice president now owns 20,404 shares of the company’s stock, valued at approximately $8,343,399.64. The trade was a 51.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Timothy A. Hourigan sold 16,004 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $409.52, for a total value of $6,553,958.08. Following the sale, the executive vice president now directly owns 77,475 shares of the company’s stock, valued at approximately $31,727,562. This represents a 17.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 38,188 shares of company stock valued at $15,624,585. 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.