Institute for Wealth Management LLC. Lowers Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Institute for Wealth Management LLC. cut its stake in shares of The Home Depot, Inc. (NYSE:HD) by 2.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,503 shares of the home improvement retailer’s stock after selling 162 shares during the period. Institute for Wealth Management LLC.’s holdings in Home Depot were worth $2,141,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in HD. International Assets Investment Management LLC increased its holdings in shares of Home Depot by 51,250.1% in the 3rd quarter. International Assets Investment Management LLC now owns 8,779,833 shares of the home improvement retailer’s stock valued at $35,575,880,000 after purchasing an additional 8,762,735 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Home Depot during the third quarter worth about $336,231,000. FMR LLC lifted its stake in Home Depot by 10.1% in the 3rd quarter. FMR LLC now owns 8,679,237 shares of the home improvement retailer’s stock valued at $3,516,827,000 after buying an additional 795,438 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec increased its position in Home Depot by 295.6% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 693,318 shares of the home improvement retailer’s stock worth $280,932,000 after buying an additional 518,054 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Home Depot by 2.0% during the third quarter. Geode Capital Management LLC now owns 21,700,427 shares of the home improvement retailer’s stock valued at $8,767,449,000 after acquiring an additional 433,126 shares during the last quarter. 70.86% of the stock is owned by institutional investors and hedge funds.

Home Depot Stock Performance

Shares of HD stock opened at $411.86 on Friday. The business has a 50 day simple moving average of $407.86 and a 200 day simple moving average of $392.46. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The firm has a market capitalization of $409.13 billion, a price-to-earnings ratio of 27.98, a price-to-earnings-growth ratio of 4.35 and a beta of 1.05. The Home Depot, Inc. has a 12-month low of $323.77 and a 12-month high of $439.37.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 EPS for the quarter, beating analysts’ consensus estimates of $3.64 by $0.14. The company had revenue of $40.22 billion for the quarter, compared to analyst estimates of $39.31 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The company’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period last year, the company earned $3.81 earnings per share. On average, equities research analysts anticipate that The Home Depot, Inc. will post 15.12 EPS for the current year.

Home Depot Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th were issued a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 2.19%. The ex-dividend date was Wednesday, November 27th. Home Depot’s dividend payout ratio (DPR) is presently 61.14%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Evercore ISI upped their price objective on shares of Home Depot from $420.00 to $430.00 and gave the company an “outperform” rating in a research note on Wednesday, November 13th. TD Cowen lifted their price objective on Home Depot from $440.00 to $460.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Mizuho increased their target price on Home Depot from $435.00 to $440.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. Loop Capital upgraded Home Depot from a “hold” rating to a “buy” rating and lifted their price target for the company from $360.00 to $460.00 in a report on Wednesday, October 9th. Finally, Telsey Advisory Group raised shares of Home Depot from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $360.00 to $455.00 in a research report on Friday, November 8th. One 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 stock. According to data from MarketBeat.com, Home Depot presently has an average rating of “Moderate Buy” and an average target price of $426.00.

Insider Activity at Home Depot

In other news, EVP Timothy A. Hourigan sold 16,004 shares of the company’s 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 owns 77,475 shares in the company, valued at $31,727,562. This represents a 17.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Ann Marie Campbell sold 100 shares of Home Depot stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $402.58, for a total value of $40,258.00. Following the transaction, the executive vice president now directly owns 12,465 shares in the company, valued at approximately $5,018,159.70. The trade was a 0.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 38,188 shares of company stock worth $15,624,585 over the last quarter. 0.10% of the stock is currently owned by company insiders.

Home Depot Profile

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.