The Home Depot, Inc. (NYSE:HD) Shares Sold by First Affirmative Financial Network

Posted by on Apr 2nd, 2023

First Affirmative Financial Network lessened its holdings in The Home Depot, Inc. (NYSE:HD – Get Rating) by 4.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,521 shares of the home improvement retailer’s stock after selling 77 shares during the quarter. First Affirmative Financial Network’s holdings in Home Depot were worth $481,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Fairfield Bush & CO. acquired a new stake in shares of Home Depot during the 1st quarter worth approximately $27,000. Glassy Mountain Advisors Inc. bought a new position in Home Depot during the 4th quarter worth $30,000. First Personal Financial Services increased its position in Home Depot by 81.1% in the third quarter. First Personal Financial Services now owns 96 shares of the home improvement retailer’s stock worth $26,000 after buying an additional 43 shares during the period. Align Wealth Management LLC bought a new stake in Home Depot in the fourth quarter valued at $30,000. Finally, EWG Elevate Inc. acquired a new position in shares of Home Depot during the fourth quarter valued at $36,000. Institutional investors own 68.31% of the company’s stock.

Wall Street Analyst Weigh In

HD has been the topic of several recent research reports. Telsey Advisory Group cut their price objective on shares of Home Depot from $360.00 to $340.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 22nd. Piper Sandler cut their price target on Home Depot from $320.00 to $300.00 in a report on Wednesday, February 15th. Cowen decreased their price objective on Home Depot from $379.00 to $360.00 and set an “outperform” rating for the company in a report on Wednesday, February 22nd. StockNews.com started coverage on Home Depot in a research note on Thursday, March 16th. They set a “hold” rating on the stock. Finally, Evercore ISI reduced their price target on Home Depot from $370.00 to $340.00 and set an “outperform” rating for the company in a research report on Wednesday, February 22nd. Thirteen analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, Home Depot presently has a consensus rating of “Moderate Buy” and an average target price of $330.61.

Home Depot Stock Performance

Shares of HD opened at $295.12 on Friday. The firm’s 50 day moving average is $303.05 and its 200-day moving average is $303.27. The stock has a market capitalization of $299.53 billion, a P/E ratio of 17.69, a P/E/G ratio of 1.59 and a beta of 0.93. The company has a debt-to-equity ratio of 26.86, a current ratio of 1.41 and a quick ratio of 0.33. The Home Depot, Inc. has a 12-month low of $264.51 and a 12-month high of $347.25.

Home Depot (NYSE:HD – Get Rating) last announced its quarterly earnings data on Tuesday, February 21st. The home improvement retailer reported $3.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.26 by $0.04. The company had revenue of $35.83 billion for the quarter, compared to analysts’ expectations of $36 billion. Home Depot had a net margin of 10.87% and a return on equity of 4,929.40%. The business’s revenue was up .3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.21 EPS. Equities research analysts anticipate that The Home Depot, Inc. will post 15.85 EPS for the current fiscal year.

Home Depot Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 23rd. Stockholders of record on Thursday, March 9th were given a $2.09 dividend. This is an increase from Home Depot’s previous quarterly dividend of $1.90. This represents a $8.36 annualized dividend and a dividend yield of 2.83%. The ex-dividend date of this dividend was Wednesday, March 8th. Home Depot’s dividend payout ratio (DPR) is 50.12%.

Home Depot Company Profile

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The Home Depot, Inc engages in the sale of building materials and home improvement products. Its products include building materials, home improvement products, lawn and garden products and decor products. The firm operates through the following geographical segments: U.S., Canada and Mexico. It offers home improvement installation services, and tool and equipment rental.

Further Reading

Institutional Ownership by Quarter for Home Depot (NYSE:HD)

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