Asset Dedication LLC Lowers Stake in The Home Depot, Inc. (NYSE:HD)

Asset Dedication LLC cut its position in The Home Depot, Inc. (NYSE:HD) by 16.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,235 shares of the home improvement retailer’s stock after selling 2,635 shares during the period. Asset Dedication LLC’s holdings in Home Depot were worth $5,148,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Foster Group Inc. raised its stake in Home Depot by 55.8% during the 4th quarter. Foster Group Inc. now owns 2,703 shares of the home improvement retailer’s stock valued at $1,052,000 after purchasing an additional 968 shares during the period. Fulton Breakefield Broenniman LLC raised its position in shares of Home Depot by 5.0% during the fourth quarter. Fulton Breakefield Broenniman LLC now owns 2,648 shares of the home improvement retailer’s stock valued at $1,030,000 after buying an additional 126 shares during the last quarter. Gateway Wealth Partners LLC lifted its holdings in shares of Home Depot by 12.6% in the fourth quarter. Gateway Wealth Partners LLC now owns 1,208 shares of the home improvement retailer’s stock worth $470,000 after buying an additional 135 shares in the last quarter. Capital Investment Counsel LLC boosted its position in shares of Home Depot by 1.7% during the fourth quarter. Capital Investment Counsel LLC now owns 18,113 shares of the home improvement retailer’s stock worth $7,046,000 after acquiring an additional 311 shares during the last quarter. Finally, Southern Style Financial Inc. purchased a new position in Home Depot during the fourth quarter valued at $311,000. 70.86% of the stock is currently owned by institutional investors.

Home Depot Trading Up 0.3 %

HD opened at $414.56 on Friday. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The stock’s fifty day moving average is $407.93 and its two-hundred day moving average is $391.93. The company has a market capitalization of $411.81 billion, a P/E ratio of 28.16, a PEG ratio of 4.32 and a beta of 1.05. 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 announced its quarterly earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 EPS for the quarter, beating the consensus estimate of $3.64 by $0.14. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The firm had revenue of $40.22 billion for the quarter, compared to analyst estimates of $39.31 billion. During the same quarter last year, the firm posted $3.81 earnings per share. The business’s revenue for the quarter was up 6.6% on a year-over-year basis. Analysts forecast that The Home Depot, Inc. will post 15.12 earnings per share for the current year.

Home Depot Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th were paid a dividend of $2.25 per share. The ex-dividend date was Wednesday, November 27th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.17%. Home Depot’s dividend payout ratio is presently 61.14%.

Insider Activity at Home Depot

In related news, EVP Teresa Wynn Roseborough sold 22,084 shares of the firm’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $408.91, for a total transaction of $9,030,368.44. Following the sale, the executive vice president now owns 20,404 shares of the company’s stock, valued at $8,343,399.64. This trade represents a 51.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Timothy A. Hourigan sold 16,004 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $409.52, for a total transaction of $6,553,958.08. Following the completion of the transaction, the executive vice president now owns 77,475 shares of the company’s stock, valued at $31,727,562. This represents a 17.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 38,188 shares of company stock valued at $15,624,585 over the last ninety days. 0.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. DA Davidson boosted their price target on shares of Home Depot from $430.00 to $466.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Evercore ISI boosted their target price on Home Depot from $420.00 to $430.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Truist Financial raised their price target on Home Depot from $459.00 to $465.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Barclays upped their price objective on Home Depot from $372.00 to $420.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Finally, Royal Bank of Canada raised their target price on shares of Home Depot from $363.00 to $413.00 and gave the company a “sector perform” rating in a report on Monday, November 11th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $426.00.

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.