Cornerstone Wealth Group LLC Decreases Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Cornerstone Wealth Group LLC lowered its position in The Home Depot, Inc. (NYSE:HD) by 21.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 29,345 shares of the home improvement retailer’s stock after selling 8,058 shares during the period. Home Depot makes up about 0.9% of Cornerstone Wealth Group LLC’s portfolio, making the stock its 22nd largest position. Cornerstone Wealth Group LLC’s holdings in Home Depot were worth $11,415,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of HD. waypoint wealth counsel grew its holdings in Home Depot by 20.2% in the fourth quarter. waypoint wealth counsel now owns 3,110 shares of the home improvement retailer’s stock worth $1,210,000 after purchasing an additional 522 shares during the last quarter. Union Bancaire Privee UBP SA acquired a new stake in shares of Home Depot in the 4th quarter worth $32,202,000. Capital Asset Advisory Services LLC grew its stake in Home Depot by 0.6% during the 4th quarter. Capital Asset Advisory Services LLC now owns 20,809 shares of the home improvement retailer’s stock worth $8,099,000 after buying an additional 118 shares during the last quarter. Blue Trust Inc. increased its position in Home Depot by 19.1% during the 4th quarter. Blue Trust Inc. now owns 36,033 shares of the home improvement retailer’s stock valued at $14,600,000 after buying an additional 5,770 shares in the last quarter. Finally, PFG Investments LLC raised its stake in Home Depot by 5.3% in the fourth quarter. PFG Investments LLC now owns 22,012 shares of the home improvement retailer’s stock valued at $8,562,000 after buying an additional 1,111 shares during the last quarter. Institutional investors own 70.86% of the company’s stock.

Insider Buying and Selling

In other news, EVP Timothy A. Hourigan sold 16,004 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $409.52, for a total transaction of $6,553,958.08. Following the transaction, the executive vice president now owns 77,475 shares of the company’s stock, valued at approximately $31,727,562. The trade was a 17.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Ann Marie Campbell sold 100 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $402.58, for a total transaction of $40,258.00. Following the sale, the executive vice president now owns 12,465 shares of the company’s stock, 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. Over the last three months, insiders have sold 38,188 shares of company stock worth $15,624,585. 0.10% of the stock is owned by insiders.

Home Depot Stock Down 1.4 %

HD opened at $418.83 on Wednesday. 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 Home Depot, Inc. has a twelve month low of $323.77 and a twelve month high of $439.37. The company has a market cap of $416.04 billion, a PE ratio of 28.45, a price-to-earnings-growth ratio of 4.32 and a beta of 1.05. The company has a 50-day moving average price of $407.42 and a 200 day moving average price of $391.36.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share for the quarter, beating the consensus estimate of $3.64 by $0.14. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The business had revenue of $40.22 billion for the quarter, compared to the consensus estimate of $39.31 billion. During the same quarter last year, the business posted $3.81 earnings per share. The business’s quarterly revenue was up 6.6% compared to the same quarter last year. Sell-side analysts expect that The Home Depot, Inc. will post 15.12 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th were paid a $2.25 dividend. This represents a $9.00 annualized dividend and a dividend yield of 2.15%. The ex-dividend date was Wednesday, November 27th. Home Depot’s dividend payout ratio is currently 61.14%.

Wall Street Analysts Forecast Growth

HD has been the topic of a number of research analyst reports. Truist Financial boosted their price target on Home Depot from $459.00 to $465.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. DA Davidson raised their price target on shares of Home Depot from $430.00 to $466.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Evercore ISI boosted their price objective on shares of Home Depot from $420.00 to $430.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Loop Capital raised Home Depot from a “hold” rating to a “buy” rating and upped their target price for the company from $360.00 to $460.00 in a research report on Wednesday, October 9th. Finally, Mizuho lifted their price target on Home Depot from $435.00 to $440.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average 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.