Avidian Wealth Solutions LLC Trims Stock Position in The Home Depot, Inc. (NYSE:HD)

Avidian Wealth Solutions LLC cut its holdings in The Home Depot, Inc. (NYSE:HD) by 4.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,829 shares of the home improvement retailer’s stock after selling 620 shares during the quarter. Avidian Wealth Solutions LLC’s holdings in Home Depot were worth $4,792,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Bare Financial Services Inc acquired a new position in Home Depot in the fourth quarter valued at $26,000. Keener Financial Planning LLC acquired a new stake in Home Depot during the 4th quarter worth approximately $31,000. PFG Private Wealth Management LLC raised its stake in shares of Home Depot by 53.3% in the 4th quarter. PFG Private Wealth Management LLC now owns 92 shares of the home improvement retailer’s stock valued at $32,000 after acquiring an additional 32 shares during the period. Gilfoyle & Co LLC purchased a new position in Home Depot in the fourth quarter valued at about $35,000. Finally, Briaud Financial Planning Inc purchased a new position in Home Depot in the 3rd quarter worth approximately $41,000. 70.86% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Home Depot news, EVP Timothy A. Hourigan sold 8,996 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $368.74, for a total value of $3,317,185.04. Following the transaction, the executive vice president now directly owns 75,799 shares in the company, valued at approximately $27,950,123.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Timothy A. Hourigan sold 8,996 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $368.74, for a total value of $3,317,185.04. Following the completion of the transaction, the executive vice president now directly owns 75,799 shares in the company, valued at $27,950,123.26. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Edward P. Decker sold 35,987 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $368.63, for a total value of $13,265,887.81. Following the sale, the chief executive officer now directly owns 107,731 shares in the company, valued at $39,712,878.53. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on HD shares. Royal Bank of Canada upped their price target on Home Depot from $299.00 to $377.00 and gave the company a “sector perform” rating in a research report on Monday, February 26th. HSBC reaffirmed a “reduce” rating and set a $323.00 target price on shares of Home Depot in a report on Wednesday, April 3rd. Citigroup raised their price objective on Home Depot from $333.00 to $415.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. Robert W. Baird restated an “outperform” rating and set a $370.00 price objective on shares of Home Depot in a research report on Wednesday, February 14th. Finally, Stifel Nicolaus upped their price target on shares of Home Depot from $355.00 to $366.00 and gave the stock a “hold” rating in a research note on Friday, February 16th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $375.96.

Home Depot Stock Up 2.2 %

Home Depot stock traded up $7.32 during trading hours on Friday, hitting $342.85. The stock had a trading volume of 4,165,054 shares, compared to its average volume of 3,606,830. The Home Depot, Inc. has a 12-month low of $274.26 and a 12-month high of $396.87. The stock has a market capitalization of $339.77 billion, a P/E ratio of 22.71, a price-to-earnings-growth ratio of 2.23 and a beta of 1.01. The stock’s 50-day moving average price is $361.75 and its 200-day moving average price is $342.08. The company has a quick ratio of 0.40, a current ratio of 1.35 and a debt-to-equity ratio of 40.94.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, February 20th. The home improvement retailer reported $2.82 EPS for the quarter, beating the consensus estimate of $2.77 by $0.05. The firm had revenue of $34.79 billion during the quarter, compared to analyst estimates of $34.64 billion. Home Depot had a net margin of 9.92% and a return on equity of 1,452.22%. The business’s revenue for the quarter was down 2.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.30 EPS. Equities research analysts anticipate that The Home Depot, Inc. will post 15.37 EPS for the current fiscal year.

Home Depot Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Thursday, March 7th were given a dividend of $2.25 per share. The ex-dividend date was Wednesday, March 6th. This represents a $9.00 annualized dividend and a yield of 2.63%. This is a positive change from Home Depot’s previous quarterly dividend of $2.09. Home Depot’s dividend payout ratio (DPR) is 59.60%.

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.