Cornerstone Wealth Management LLC Buys 259 Shares of The Home Depot, Inc. (NYSE:HD)

Cornerstone Wealth Management LLC lifted its position in The Home Depot, Inc. (NYSE:HD) by 3.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,915 shares of the home improvement retailer’s stock after acquiring an additional 259 shares during the period. Cornerstone Wealth Management LLC’s holdings in Home Depot were worth $2,690,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Brighton Jones LLC lifted its holdings in Home Depot by 36.5% during the fourth quarter. Brighton Jones LLC now owns 26,918 shares of the home improvement retailer’s stock worth $10,471,000 after acquiring an additional 7,203 shares in the last quarter. Hengehold Capital Management LLC raised its position in shares of Home Depot by 2.0% during the fourth quarter. Hengehold Capital Management LLC now owns 2,096 shares of the home improvement retailer’s stock worth $815,000 after purchasing an additional 42 shares during the period. Montecito Bank & Trust raised its position in shares of Home Depot by 8.6% during the fourth quarter. Montecito Bank & Trust now owns 5,657 shares of the home improvement retailer’s stock worth $2,201,000 after purchasing an additional 450 shares during the period. Cerro Pacific Wealth Advisors LLC grew its position in shares of Home Depot by 2.2% in the 4th quarter. Cerro Pacific Wealth Advisors LLC now owns 3,540 shares of the home improvement retailer’s stock valued at $1,435,000 after purchasing an additional 77 shares during the period. Finally, FCG Investment Co increased its stake in Home Depot by 4.4% during the 4th quarter. FCG Investment Co now owns 5,251 shares of the home improvement retailer’s stock worth $2,043,000 after purchasing an additional 223 shares in the last quarter. Institutional investors own 70.86% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Loop Capital raised shares of Home Depot from a “hold” rating to a “buy” rating and lifted their price target for the company from $360.00 to $460.00 in a research note on Wednesday, October 9th. Piper Sandler boosted their price objective on shares of Home Depot from $387.00 to $455.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Evercore ISI increased their target price on Home Depot from $420.00 to $430.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Morgan Stanley boosted their price target on Home Depot from $380.00 to $450.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Finally, DA Davidson increased 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. 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 company’s stock. According to data from MarketBeat.com, Home Depot presently has an average rating of “Moderate Buy” and a consensus price target of $426.00.

Insider Buying and Selling at Home Depot

In other Home Depot 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 value of $6,553,958.08. Following the completion of the sale, the executive vice president now owns 77,475 shares of the company’s stock, valued at $31,727,562. The trade was a 17.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Teresa Wynn Roseborough sold 22,084 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The stock was 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 in the company, valued at $8,343,399.64. This represents a 51.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 38,188 shares of company stock valued at $15,624,585 in the last ninety days. 0.10% of the stock is currently owned by corporate insiders.

Home Depot Trading Up 0.0 %

HD stock opened at $414.53 on Friday. The Home Depot, Inc. has a one year low of $323.77 and a one year high of $439.37. The stock has a market cap of $411.77 billion, a price-to-earnings ratio of 28.16, a price-to-earnings-growth ratio of 4.32 and a beta of 1.05. The company has a fifty day moving average price of $407.14 and a two-hundred day moving average price of $390.16. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31.

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 EPS for the quarter, beating analysts’ consensus estimates of $3.64 by $0.14. The business had revenue of $40.22 billion for the quarter, compared to analyst estimates of $39.31 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. Home Depot’s quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.81 EPS. Equities analysts anticipate that The Home Depot, Inc. will post 15.12 EPS for the current year.

Home Depot Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Wednesday, November 27th were issued a dividend of $2.25 per share. The ex-dividend date was Wednesday, November 27th. This represents a $9.00 annualized dividend and a yield of 2.17%. Home Depot’s payout ratio is currently 61.14%.

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.