Wealthstreet Investment Advisors LLC reduced its position in shares of Home Depot Inc (NYSE:HD) by 2.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,127 shares of the home improvement retailer’s stock after selling 460 shares during the period. Wealthstreet Investment Advisors LLC’s holdings in Home Depot were worth $3,979,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in HD. Ironwood Financial llc boosted its stake in Home Depot by 39.5% during the fourth quarter. Ironwood Financial llc now owns 286 shares of the home improvement retailer’s stock worth $49,000 after buying an additional 81 shares during the period. Avondale Wealth Management boosted its stake in Home Depot by 52.4% during the fourth quarter. Avondale Wealth Management now owns 349 shares of the home improvement retailer’s stock worth $60,000 after buying an additional 120 shares during the period. Fusion Family Wealth LLC boosted its stake in Home Depot by 43.6% during the fourth quarter. Fusion Family Wealth LLC now owns 405 shares of the home improvement retailer’s stock worth $70,000 after buying an additional 123 shares during the period. Horan Securities Inc. boosted its stake in Home Depot by 44.0% during the fourth quarter. Horan Securities Inc. now owns 540 shares of the home improvement retailer’s stock worth $97,000 after buying an additional 165 shares during the period. Finally, Highwater Wealth Management LLC purchased a new position in Home Depot during the fourth quarter worth about $124,000. Hedge funds and other institutional investors own 70.88% of the company’s stock.
In related news, EVP Mark Holifield sold 12,000 shares of Home Depot stock in a transaction that occurred on Thursday, February 28th. The shares were sold at an average price of $183.60, for a total value of $2,203,200.00. Following the completion of the transaction, the executive vice president now owns 39,794 shares in the company, valued at $7,306,178.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Edward P. Decker sold 23,744 shares of Home Depot stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $182.93, for a total transaction of $4,343,489.92. Following the completion of the transaction, the executive vice president now owns 86,813 shares of the company’s stock, valued at approximately $15,880,702.09. The disclosure for this sale can be found here. Insiders sold 41,194 shares of company stock valued at $7,553,141 in the last quarter. 0.25% of the stock is owned by insiders.
Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, February 26th. The home improvement retailer reported $2.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.16 by $0.09. Home Depot had a net margin of 10.28% and a return on equity of 1,441.05%. The company had revenue of $26.49 billion during the quarter, compared to the consensus estimate of $26.57 billion. During the same quarter in the previous year, the firm earned $1.69 earnings per share. The firm’s quarterly revenue was up 10.9% on a year-over-year basis. Equities research analysts anticipate that Home Depot Inc will post 10.09 earnings per share for the current year.
Home Depot declared that its Board of Directors has initiated a share repurchase program on Tuesday, February 26th that permits the company to repurchase $15.00 billion in shares. This repurchase authorization permits the home improvement retailer to reacquire up to 6.9% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.
The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were paid a $1.36 dividend. The ex-dividend date was Wednesday, March 13th. This represents a $5.44 dividend on an annualized basis and a yield of 2.65%. This is an increase from Home Depot’s previous quarterly dividend of $1.03. Home Depot’s payout ratio is currently 55.01%.
Several brokerages have weighed in on HD. Morgan Stanley increased their target price on shares of Home Depot from $200.00 to $210.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Bank of America reissued a “neutral” rating and issued a $202.00 price objective on shares of Home Depot in a research note on Thursday, April 11th. Citigroup lowered their price objective on shares of Home Depot from $224.00 to $218.00 and set a “buy” rating for the company in a research note on Monday, April 1st. Evercore ISI started coverage on shares of Home Depot in a research note on Wednesday, March 20th. They issued an “outperform” rating and a $215.00 price objective for the company. Finally, DZ Bank lowered shares of Home Depot from a “buy” rating to a “hold” rating in a research note on Wednesday, February 27th. Nine analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Home Depot presently has an average rating of “Buy” and an average target price of $204.47.
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About Home Depot
The Home Depot, Inc operates as a home improvement retailer. It operates The Home Depot stores that sell various building materials, home improvement products, lawn and garden products, and décor products, as well as provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.
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