The Home Depot, Inc. (NYSE:HD) Shares Sold by Financial Network Wealth Management LLC

Financial Network Wealth Management LLC trimmed its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 3.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,416 shares of the home improvement retailer’s stock after selling 116 shares during the quarter. Financial Network Wealth Management LLC’s holdings in Home Depot were worth $1,328,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of HD. Geode Capital Management LLC grew its position in Home Depot by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 21,700,427 shares of the home improvement retailer’s stock valued at $8,767,449,000 after acquiring an additional 433,126 shares in the last quarter. Fisher Asset Management LLC grew its position in Home Depot by 1.3% in the 4th quarter. Fisher Asset Management LLC now owns 9,552,090 shares of the home improvement retailer’s stock valued at $3,715,668,000 after acquiring an additional 125,441 shares in the last quarter. FMR LLC grew its position in Home Depot by 10.1% in the 3rd quarter. FMR LLC now owns 8,679,237 shares of the home improvement retailer’s stock valued at $3,516,827,000 after acquiring an additional 795,438 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Home Depot by 5.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 8,030,483 shares of the home improvement retailer’s stock valued at $3,253,952,000 after acquiring an additional 409,890 shares in the last quarter. Finally, Amundi grew its position in Home Depot by 8.6% in the 4th quarter. Amundi now owns 7,554,880 shares of the home improvement retailer’s stock valued at $2,925,498,000 after acquiring an additional 599,490 shares in the last quarter. 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 company. Hsbc Global Res raised Home Depot from a “moderate sell” rating to a “hold” rating in a research report on Wednesday, February 26th. Guggenheim reaffirmed a “buy” rating and issued a $450.00 target price on shares of Home Depot in a research report on Wednesday, February 26th. Piper Sandler lowered their price objective on Home Depot from $455.00 to $435.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Telsey Advisory Group reissued an “outperform” rating and set a $455.00 price objective on shares of Home Depot in a research report on Wednesday, February 26th. Finally, Robert W. Baird lowered their price objective on Home Depot from $440.00 to $430.00 and set an “outperform” rating for the company in a research report on Wednesday, February 26th. Nine analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $436.50.

Home Depot Price Performance

Shares of NYSE HD opened at $355.31 on Friday. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The Home Depot, Inc. has a twelve month low of $323.77 and a twelve month high of $439.37. The stock has a 50 day moving average of $394.73 and a two-hundred day moving average of $398.78. The stock has a market cap of $352.95 billion, a P/E ratio of 24.14, a P/E/G ratio of 4.03 and a beta of 1.09.

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, beating analysts’ consensus estimates of $3.04 by $0.09. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The company 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 business earned $2.82 earnings per share. The firm’s revenue for the quarter was up 14.1% on a year-over-year basis. On average, research analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Increases Dividend

The company 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. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $9.20 dividend on an annualized basis and a yield of 2.59%. This is a boost from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s payout ratio is currently 61.66%.

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.