Prasad Wealth Partners LLC Takes $586,000 Position in The Home Depot, Inc. (NYSE:HD)

Prasad Wealth Partners LLC purchased a new position in The Home Depot, Inc. (NYSE:HD) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,507 shares of the home improvement retailer’s stock, valued at approximately $586,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Synergy Asset Management LLC purchased a new position in shares of Home Depot during the 4th quarter valued at $26,000. Wingate Wealth Advisors Inc. acquired a new stake in Home Depot during the fourth quarter valued at $28,000. Legacy Investment Solutions LLC acquired a new stake in Home Depot during the third quarter valued at $41,000. Sugar Maple Asset Management LLC purchased a new position in Home Depot in the fourth quarter valued at about $41,000. Finally, Marshall Investment Management LLC acquired a new position in Home Depot in the 4th quarter worth about $41,000. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Trading Down 1.1 %

Shares of HD opened at $381.12 on Tuesday. The Home Depot, Inc. has a 12-month low of $323.77 and a 12-month high of $439.37. 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 $378.59 billion, a price-to-earnings ratio of 25.89, a P/E/G ratio of 4.03 and a beta of 1.05. The stock’s 50-day moving average price is $401.53 and its 200 day moving average price is $398.16.

Analyst Ratings Changes

Several research analysts have recently commented on HD shares. JPMorgan Chase & Co. increased their price target on shares of Home Depot from $450.00 to $475.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Truist Financial lifted their price objective on shares of Home Depot from $465.00 to $467.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. TD Cowen lifted their price objective on shares of Home Depot from $440.00 to $460.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Wells Fargo & Company lifted their price objective on shares of Home Depot from $440.00 to $450.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Finally, Evercore ISI lifted 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. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-one have issued a buy rating to the stock. According to data from MarketBeat, Home Depot currently has a consensus rating of “Moderate Buy” and a consensus target price of $433.44.

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.