Beacon Investment Advisory Services Inc. Sells 688 Shares of The Home Depot, Inc. (NYSE:HD)

Beacon Investment Advisory Services Inc. lowered its stake in The Home Depot, Inc. (NYSE:HD) by 0.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 78,420 shares of the home improvement retailer’s stock after selling 688 shares during the quarter. Home Depot makes up 1.3% of Beacon Investment Advisory Services Inc.’s investment portfolio, making the stock its 26th largest position. Beacon Investment Advisory Services Inc.’s holdings in Home Depot were worth $31,776,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Fairway Wealth LLC bought a new position in Home Depot in the 2nd quarter valued at $25,000. Kings Path Partners LLC bought a new stake in Home Depot during the second quarter valued at $33,000. Denver PWM LLC purchased a new position in Home Depot during the second quarter worth about $40,000. Livelsberger Financial Advisory bought a new position in Home Depot in the 3rd quarter worth about $46,000. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in shares of Home Depot in the 2nd quarter valued at about $47,000. 70.86% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Wells Fargo & Company upped their price objective on shares of Home Depot from $400.00 to $430.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. Truist Financial raised their price objective on shares of Home Depot from $459.00 to $465.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Loop Capital raised Home Depot from a “hold” rating to a “buy” rating and increased their target price for the company from $360.00 to $460.00 in a research note on Wednesday, October 9th. DA Davidson upped their price objective on Home Depot from $430.00 to $466.00 and gave the stock a “buy” rating in a report on Friday, October 25th. Finally, Barclays upped their target price on Home Depot from $372.00 to $420.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. One research 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 company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $426.00.

Home Depot Stock Up 0.5 %

HD stock opened at $429.13 on Monday. 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 cap of $426.28 billion, a price-to-earnings ratio of 29.15, a P/E/G ratio of 2.98 and a beta of 1.01. The business’s 50-day moving average is $407.48 and its two-hundred day moving average is $372.20. The Home Depot, Inc. has a fifty-two week low of $308.59 and a fifty-two week high of $439.37.

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

Home Depot Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th will be paid a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date is Wednesday, November 27th. Home Depot’s payout ratio is 61.14%.

Insider Buying and Selling at Home Depot

In related news, EVP Ann Marie Campbell sold 100 shares of the firm’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $402.58, for a total transaction of $40,258.00. Following the completion of the transaction, the executive vice president now directly owns 12,465 shares of the company’s stock, valued at approximately $5,018,159.70. This trade represents a 0.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Teresa Wynn Roseborough sold 22,084 shares of the stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $408.91, for a total transaction of $9,030,368.44. Following the transaction, the executive vice president now directly owns 20,404 shares of the company’s stock, valued at $8,343,399.64. This trade represents a 51.98 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 38,188 shares of company stock valued at $15,624,585 over the last 90 days. 0.10% of the stock is currently owned by corporate insiders.

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.