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

Providence Wealth Advisors LLC reduced its stake in shares of The Home Depot, Inc. (NYSE:HD) by 1.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,028 shares of the home improvement retailer’s stock after selling 118 shares during the period. Home Depot makes up approximately 1.8% of Providence Wealth Advisors LLC’s investment portfolio, making the stock its 16th biggest holding. Providence Wealth Advisors LLC’s holdings in Home Depot were worth $2,349,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. SYM FINANCIAL Corp raised its position in Home Depot by 17.8% during the third quarter. SYM FINANCIAL Corp now owns 1,917 shares of the home improvement retailer’s stock worth $777,000 after acquiring an additional 289 shares during the period. Principal Financial Group Inc. lifted its stake in Home Depot by 10.7% in the 3rd quarter. Principal Financial Group Inc. now owns 1,471,223 shares of the home improvement retailer’s stock valued at $596,140,000 after buying an additional 141,915 shares in the last quarter. United Bank boosted its holdings in Home Depot by 4.2% in the 3rd quarter. United Bank now owns 4,458 shares of the home improvement retailer’s stock worth $1,806,000 after buying an additional 181 shares during the last quarter. Algert Global LLC purchased a new stake in Home Depot during the 3rd quarter worth approximately $649,000. Finally, Cadence Bank raised its holdings in shares of Home Depot by 5.6% during the third quarter. Cadence Bank now owns 15,678 shares of the home improvement retailer’s stock valued at $6,353,000 after acquiring an additional 836 shares during the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Stock Performance

Home Depot stock opened at $362.01 on Thursday. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. The company has a market capitalization of $359.61 billion, a price-to-earnings ratio of 24.59, a PEG ratio of 4.03 and a beta of 1.09. The Home Depot, Inc. has a fifty-two week low of $323.77 and a fifty-two week high of $439.37. The stock has a fifty day moving average of $391.94 and a two-hundred day moving average of $398.90.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, topping analysts’ consensus estimates of $3.04 by $0.09. The company had revenue of $39.70 billion for the quarter, compared to analyst estimates of $39.15 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The business’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.82 EPS. On average, analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be paid a dividend of $2.30 per share. The ex-dividend date is Thursday, March 13th. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a yield of 2.54%. Home Depot’s dividend payout ratio is currently 61.66%.

Wall Street Analyst Weigh In

Several research firms have recently commented on HD. Robert W. Baird reduced their price target on Home Depot from $440.00 to $430.00 and set an “outperform” rating on the stock in a report on Wednesday, February 26th. Royal Bank of Canada reduced their price target on shares of Home Depot from $431.00 to $424.00 and set a “sector perform” rating on the stock in a research report on Wednesday, February 26th. Wells Fargo & Company increased their price objective on Home Depot from $440.00 to $450.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Wedbush reaffirmed an “outperform” rating and issued a $440.00 price target on shares of Home Depot in a research note on Wednesday, February 26th. Finally, Telsey Advisory Group reiterated an “outperform” rating and set a $455.00 price target on shares of Home Depot in a research report on Wednesday, February 26th. Nine research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Home Depot has an average rating of “Moderate Buy” and an average price target of $435.85.

Home Depot Company 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.