AE Wealth Management LLC Lowers Position in The Home Depot, Inc. (NYSE:HD)

Posted by on Apr 16th, 2023

AE Wealth Management LLC lessened its holdings in The Home Depot, Inc. (NYSE:HD – Get Rating) by 2.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 153,550 shares of the home improvement retailer’s stock after selling 4,383 shares during the quarter. AE Wealth Management LLC’s holdings in Home Depot were worth $48,500,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of HD. Vanguard Group Inc. grew its stake in shares of Home Depot by 1.1% during the 3rd quarter. Vanguard Group Inc. now owns 94,440,614 shares of the home improvement retailer’s stock worth $26,059,943,000 after acquiring an additional 1,011,858 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Home Depot by 14.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 10,729,735 shares of the home improvement retailer’s stock worth $3,211,731,000 after acquiring an additional 1,361,660 shares during the period. Alliancebernstein L.P. grew its stake in shares of Home Depot by 9.1% during the 3rd quarter. Alliancebernstein L.P. now owns 9,722,967 shares of the home improvement retailer’s stock worth $2,682,956,000 after acquiring an additional 812,278 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Home Depot by 2.3% during the 3rd quarter. Price T Rowe Associates Inc. MD now owns 5,929,065 shares of the home improvement retailer’s stock worth $1,636,544,000 after acquiring an additional 131,560 shares during the period. Finally, Cottage Street Advisors LLC grew its stake in shares of Home Depot by 26,657.7% during the 4th quarter. Cottage Street Advisors LLC now owns 3,580,444 shares of the home improvement retailer’s stock worth $659,000 after acquiring an additional 3,567,063 shares during the period. Institutional investors own 68.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on HD. DA Davidson cut their price target on Home Depot from $334.00 to $306.00 and set a “neutral” rating for the company in a research note on Wednesday, February 22nd. Wedbush raised their target price on Home Depot from $280.00 to $300.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 22nd. Telsey Advisory Group cut their target price on Home Depot from $360.00 to $340.00 and set an “outperform” rating for the company in a research note on Wednesday, February 22nd. StockNews.com began coverage on Home Depot in a research note on Thursday, March 16th. They issued a “hold” rating for the company. Finally, Bank of America cut their target price on Home Depot from $360.00 to $346.00 in a research note on Wednesday, February 22nd. Thirteen research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $329.89.

Home Depot Stock Up 0.0 %

Shares of NYSE HD opened at $292.19 on Friday. The company has a quick ratio of 0.33, a current ratio of 1.41 and a debt-to-equity ratio of 26.86. The Home Depot, Inc. has a 52 week low of $264.51 and a 52 week high of $347.25. The firm’s fifty day moving average is $297.04 and its 200 day moving average is $304.62. The company has a market cap of $295.89 billion, a price-to-earnings ratio of 17.52, a PEG ratio of 1.68 and a beta of 0.93.

Home Depot (NYSE:HD – Get Rating) last issued its earnings results on Tuesday, February 21st. The home improvement retailer reported $3.30 EPS for the quarter, topping the consensus estimate of $3.26 by $0.04. Home Depot had a net margin of 10.87% and a return on equity of 4,929.40%. The company had revenue of $35.83 billion for the quarter, compared to the consensus estimate of $36 billion. During the same period in the previous year, the firm earned $3.21 earnings per share. The firm’s revenue for the quarter was up .3% on a year-over-year basis. On average, equities research analysts expect that The Home Depot, Inc. will post 15.85 earnings per share for the current year.

Home Depot Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 23rd. Investors of record on Thursday, March 9th were issued a $2.09 dividend. The ex-dividend date was Wednesday, March 8th. This represents a $8.36 annualized dividend and a yield of 2.86%. This is a boost from Home Depot’s previous quarterly dividend of $1.90. Home Depot’s payout ratio is 50.12%.

Home Depot 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.

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

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