Financial Advocates Investment Management Trims Stock Position in The Home Depot, Inc. (NYSE:HD)

Financial Advocates Investment Management decreased its holdings in The Home Depot, Inc. (NYSE:HD) by 16.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,891 shares of the home improvement retailer’s stock after selling 1,342 shares during the quarter. Financial Advocates Investment Management’s holdings in Home Depot were worth $2,680,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Synergy Asset Management LLC bought a new position in shares of Home Depot during the 4th quarter valued at approximately $26,000. Legacy Investment Solutions LLC purchased a new position in Home Depot during the third quarter valued at approximately $41,000. Sugar Maple Asset Management LLC bought a new position in shares of Home Depot in the fourth quarter worth approximately $41,000. Livelsberger Financial Advisory purchased a new stake in shares of Home Depot in the third quarter worth $46,000. Finally, Finley Financial LLC bought a new stake in shares of Home Depot during the 4th quarter valued at $59,000. 70.86% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Home Depot news, EVP Timothy A. Hourigan sold 16,004 shares of the firm’s stock in a transaction on 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 transaction, the executive vice president now directly owns 77,475 shares in the company, valued at $31,727,562. This trade represents a 17.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Ann Marie Campbell sold 100 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $402.58, for a total value of $40,258.00. Following the completion of the sale, the executive vice president now owns 12,465 shares of the company’s stock, valued at $5,018,159.70. This represents a 0.80 % 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 worth $15,624,585 over the last quarter. Company insiders own 0.10% of the company’s stock.

Analyst Ratings Changes

HD has been the subject of several recent analyst reports. Mizuho upped their target price on shares of Home Depot from $435.00 to $440.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Wells Fargo & Company upped their price objective on Home Depot from $400.00 to $430.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. Truist Financial lifted their target price on Home Depot from $459.00 to $465.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Sanford C. Bernstein initiated coverage on Home Depot in a research note on Tuesday, October 22nd. They issued a “market perform” rating and a $451.00 price target for the company. Finally, Royal Bank of Canada increased their price objective 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $426.00.

Home Depot Trading Down 1.6 %

Shares of HD opened at $407.39 on Friday. The Home Depot, Inc. has a twelve month low of $323.77 and a twelve month high of $439.37. 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 company’s fifty day simple moving average is $406.58 and its 200-day simple moving average is $393.70. The company has a market cap of $404.68 billion, a P/E ratio of 27.68, a P/E/G ratio of 4.34 and a beta of 1.05.

Home Depot (NYSE:HD) last announced 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 business had revenue of $40.22 billion during the quarter, compared to the consensus estimate of $39.31 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter last year, the firm earned $3.81 earnings per share. As a group, analysts expect that The Home Depot, Inc. will post 15.12 EPS for the current year.

Home Depot Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th were given a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 2.21%. The ex-dividend date of this dividend was Wednesday, November 27th. Home Depot’s dividend payout ratio (DPR) is presently 61.14%.

About Home Depot

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.