The Home Depot, Inc. (NYSE:HD) Shares Sold by Silverlake Wealth Management LLC

Posted by Defense World Staff on Jun 25th, 2023

Silverlake Wealth Management LLC decreased its holdings in shares of The Home Depot, Inc. (NYSE:HD – Get Rating) by 7.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,695 shares of the home improvement retailer’s stock after selling 648 shares during the quarter. Home Depot comprises 1.4% of Silverlake Wealth Management LLC’s holdings, making the stock its 11th largest holding. Silverlake Wealth Management LLC’s holdings in Home Depot were worth $2,271,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Fairfield Bush & CO. acquired a new stake in Home Depot in the 1st quarter valued at approximately $27,000. Align Wealth Management LLC purchased a new stake in shares of Home Depot in the 4th quarter valued at $30,000. Glassy Mountain Advisors Inc. acquired a new position in Home Depot during the 4th quarter worth about $30,000. Studio Investment Management LLC purchased a new position in Home Depot during the 4th quarter valued at about $32,000. Finally, EWG Elevate Inc. acquired a new position in Home Depot in the 4th quarter valued at about $36,000. Hedge funds and other institutional investors own 69.91% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on HD. Citigroup cut their target price on shares of Home Depot from $332.00 to $327.00 in a research note on Wednesday, May 10th. 92 Resources reiterated a “maintains” rating on shares of Home Depot in a research note on Wednesday, May 17th. The Goldman Sachs Group lowered their target price on Home Depot from $340.00 to $330.00 in a research note on Tuesday, May 16th. Telsey Advisory Group reduced their target price on shares of Home Depot from $340.00 to $315.00 and set an “outperform” rating on the stock in a report on Wednesday, May 17th. Finally, Truist Financial lowered their price target on shares of Home Depot from $352.00 to $318.00 in a report on Wednesday, May 17th. Twelve investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $323.43.

Home Depot Stock Down 0.1 %

HD stock opened at $300.81 on Friday. The Home Depot, Inc. has a one year low of $265.61 and a one year high of $347.25. The company has a debt-to-equity ratio of 113.02, a quick ratio of 0.28 and a current ratio of 1.27. The company has a fifty day moving average of $294.65 and a 200-day moving average of $303.57. The stock has a market capitalization of $302.43 billion, a PE ratio of 18.33, a price-to-earnings-growth ratio of 1.93 and a beta of 0.93.

Home Depot (NYSE:HD – Get Rating) last posted its quarterly earnings results on Tuesday, May 16th. The home improvement retailer reported $3.82 EPS for the quarter, beating the consensus estimate of $3.80 by $0.02. The business had revenue of $37.26 billion during the quarter, compared to analysts’ expectations of $38.35 billion. Home Depot had a return on equity of 1,936.63% and a net margin of 10.75%. The company’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same period last year, the firm earned $4.09 EPS. As a group, analysts expect that The Home Depot, Inc. will post 14.97 EPS for the current year.

Home Depot Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 15th. Investors of record on Thursday, June 1st were paid a $2.09 dividend. This represents a $8.36 annualized dividend and a dividend yield of 2.78%. The ex-dividend date was Wednesday, May 31st. Home Depot’s dividend payout ratio (DPR) is 50.94%.

Insider Buying and Selling

In other news, EVP Hector A. Padilla sold 1,502 shares of Home Depot stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $293.09, for a total transaction of $440,221.18. Following the completion of the sale, the executive vice president now directly owns 13,958 shares in the company, valued at approximately $4,090,950.22. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.19% of the stock is owned by insiders.

About Home Depot

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The Home Depot, Inc operates as a home improvement retailer. 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.