Pinnacle Wealth Planning Services Inc. Has $1.79 Million Stake in The Home Depot, Inc. (NYSE:HD)

Pinnacle Wealth Planning Services Inc. trimmed its stake in shares of The Home Depot, Inc. (NYSE:HD) by 28.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,613 shares of the home improvement retailer’s stock after selling 1,854 shares during the period. 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 and other institutional investors have also made changes to their positions in the stock. Lindbrook Capital LLC raised its holdings in shares of Home Depot by 0.4% during the fourth quarter. Lindbrook Capital LLC now owns 10,775 shares of the home improvement retailer’s stock worth $4,191,000 after acquiring an additional 41 shares during the period. Washington Trust Advisors Inc. raised its holdings in shares of Home Depot by 1.1% during the fourth quarter. Washington Trust Advisors Inc. now owns 7,133 shares of the home improvement retailer’s stock worth $2,775,000 after acquiring an additional 75 shares during the period. McDonough Capital Management Inc raised its holdings in shares of Home Depot by 6.7% during the fourth quarter. McDonough Capital Management Inc now owns 14,976 shares of the home improvement retailer’s stock worth $5,826,000 after acquiring an additional 941 shares during the period. Inceptionr LLC acquired a new stake in Home Depot in the 4th quarter valued at $782,000. Finally, Townsend Asset Management Corp NC ADV increased its stake in Home Depot by 0.6% in the 4th quarter. Townsend Asset Management Corp NC ADV now owns 4,690 shares of the home improvement retailer’s stock valued at $1,824,000 after buying an additional 30 shares during the last quarter. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Home Depot Stock Performance

Shares of HD stock opened at $386.82 on Thursday. The company has a market capitalization of $384.25 billion, a price-to-earnings ratio of 26.28, a PEG ratio of 4.03 and a beta of 1.05. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. The company has a 50-day simple moving average of $400.81 and a 200 day simple moving average of $399.62. The Home Depot, Inc. has a 52 week low of $323.77 and a 52 week high of $439.37.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, topping the consensus estimate of $3.04 by $0.09. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The business had revenue of $39.70 billion during the quarter, compared to analysts’ expectations of $39.15 billion. During the same quarter in the previous year, the company earned $2.82 EPS. The business’s revenue was up 14.1% on a year-over-year basis. On average, sell-side analysts predict that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Increases Dividend

The firm also recently disclosed 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 is a boost from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $9.20 annualized dividend and a yield of 2.38%. Home Depot’s payout ratio is 61.66%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on HD shares. Hsbc Global Res upgraded shares of Home Depot from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, February 26th. Guggenheim reiterated a “buy” rating and issued a $450.00 price target on shares of Home Depot in a research note on Wednesday, February 26th. Truist Financial lowered their price target on shares of Home Depot from $467.00 to $437.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th. Piper Sandler lowered their price target on shares of Home Depot from $455.00 to $435.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Finally, Wells Fargo & Company lifted their price target on shares of Home Depot from $440.00 to $450.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Nine research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given 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 target price of $436.50.

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.