Pinnacle Wealth Planning Services Inc. Has $1.79 Million Stake in The Home Depot, Inc. (NYSE:HD)

Pinnacle Wealth Planning Services Inc. cut its position in The Home Depot, Inc. (NYSE:HD) by 28.7% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 4,613 shares of the home improvement retailer’s stock after selling 1,854 shares during the quarter. Pinnacle Wealth Planning Services Inc.’s holdings in Home Depot were worth $1,794,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in HD. Raymond James Financial Inc. acquired a new position in shares of Home Depot in the 4th quarter valued at approximately $2,212,546,000. Proficio Capital Partners LLC raised its position in shares of Home Depot by 21,394.9% in the 4th quarter. Proficio Capital Partners LLC now owns 2,039,862 shares of the home improvement retailer’s stock valued at $793,486,000 after buying an additional 2,030,372 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Home Depot in the 3rd quarter valued at approximately $336,231,000. FMR LLC raised its position in shares of Home Depot by 10.1% in the 3rd quarter. FMR LLC now owns 8,679,237 shares of the home improvement retailer’s stock valued at $3,516,827,000 after buying an additional 795,438 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec raised its position in shares of Home Depot by 295.6% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 693,318 shares of the home improvement retailer’s stock valued at $280,932,000 after buying an additional 518,054 shares in the last quarter. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Home Depot Price Performance

Shares of NYSE:HD opened at $386.82 on Thursday. 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 firm has a market capitalization of $384.25 billion, a PE ratio of 26.28, a P/E/G ratio of 4.03 and a beta of 1.05. The Home Depot, Inc. has a twelve month low of $323.77 and a twelve month high of $439.37. The company has a 50-day moving average price of $400.81 and a two-hundred day moving average price of $399.62.

Home Depot (NYSE:HD) last issued its 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. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm had revenue of $39.70 billion during the quarter, compared to analyst estimates of $39.15 billion. During the same quarter last year, the business earned $2.82 earnings per share. The company’s quarterly revenue was up 14.1% on a year-over-year basis. Equities analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be given a $2.30 dividend. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.38%. The ex-dividend date is Thursday, March 13th. Home Depot’s dividend payout ratio (DPR) is 61.66%.

Analysts Set New Price Targets

Several brokerages have recently commented on HD. HSBC upgraded shares of Home Depot from a “reduce” rating to a “hold” rating and boosted their target price for the company from $356.00 to $410.00 in a research report on Wednesday, February 26th. Hsbc Global Res upgraded shares of Home Depot from a “moderate sell” rating to a “hold” rating in a research report on Wednesday, February 26th. Telsey Advisory Group reiterated an “outperform” rating and set a $455.00 price objective on shares of Home Depot in a research report on Wednesday, February 26th. Piper Sandler lowered their price objective on shares of Home Depot from $455.00 to $435.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Finally, Wells Fargo & Company upped their price objective on shares of Home Depot from $440.00 to $450.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Nine investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $436.50.

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.