Pines Wealth Management LLC Invests $1.40 Million in The Home Depot, Inc. (NYSE:HD)

Pines Wealth Management LLC purchased a new stake in shares of The Home Depot, Inc. (NYSE:HD) during the 4th quarter, Holdings Channel reports. The fund purchased 3,581 shares of the home improvement retailer’s stock, valued at approximately $1,396,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Legacy Investment Solutions LLC acquired a new position in Home Depot in the 3rd quarter worth about $41,000. Livelsberger Financial Advisory bought a new stake in shares of Home Depot during the third quarter worth about $46,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Home Depot in the second quarter valued at approximately $47,000. Quarry LP raised its holdings in Home Depot by 36.0% in the 2nd quarter. Quarry LP now owns 136 shares of the home improvement retailer’s stock valued at $47,000 after buying an additional 36 shares during the last quarter. Finally, Semmax Financial Advisors Inc. raised its holdings in Home Depot by 111.3% in the 2nd quarter. Semmax Financial Advisors Inc. now owns 150 shares of the home improvement retailer’s stock valued at $53,000 after buying an additional 79 shares during the last quarter. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Home Depot Price Performance

Shares of NYSE:HD opened at $405.99 on Thursday. The Home Depot, Inc. has a twelve month low of $323.77 and a twelve month high of $439.37. The stock’s 50 day moving average is $405.88 and its 200-day moving average is $386.65. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The firm has a market capitalization of $403.30 billion, a price-to-earnings ratio of 27.58, a PEG ratio of 2.90 and a beta of 1.05.

Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share for the quarter, topping the consensus estimate of $3.64 by $0.14. The firm had revenue of $40.22 billion for 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 business’s revenue was up 6.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.81 earnings per share. Sell-side analysts forecast that The Home Depot, Inc. will post 15.12 EPS for the current fiscal year.

Home Depot Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Wednesday, November 27th were given a $2.25 dividend. The ex-dividend date was Wednesday, November 27th. This represents a $9.00 annualized dividend and a yield of 2.22%. Home Depot’s payout ratio is 61.14%.

Insider Buying and Selling at Home Depot

In related news, EVP Timothy A. Hourigan sold 16,004 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $409.52, for a total value of $6,553,958.08. Following the completion of the sale, the executive vice president now directly owns 77,475 shares of the company’s stock, valued at approximately $31,727,562. This represents a 17.12 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Ann Marie Campbell sold 100 shares of Home Depot stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $402.58, for a total transaction of $40,258.00. Following the transaction, the executive vice president now directly owns 12,465 shares in the company, 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. In the last quarter, insiders sold 38,188 shares of company stock worth $15,624,585. Insiders own 0.10% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on HD. Piper Sandler upped their price target on shares of Home Depot from $387.00 to $455.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Morgan Stanley increased their price objective on Home Depot from $380.00 to $450.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Guggenheim raised their target price on Home Depot from $390.00 to $450.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. Oppenheimer upped their price target on Home Depot from $345.00 to $400.00 and gave the company a “market perform” rating in a research report on Tuesday, September 24th. Finally, Loop Capital upgraded Home Depot from a “hold” rating to a “buy” rating and raised their price objective for the stock from $360.00 to $460.00 in a research report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $426.00.

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.