Institute for Wealth Management LLC. Sells 137 Shares of The Home Depot, Inc. (NYSE:HD)

Institute for Wealth Management LLC. lowered its holdings in The Home Depot, Inc. (NYSE:HD) by 2.5% in the 1st quarter, HoldingsChannel.com reports. The firm owned 5,366 shares of the home improvement retailer’s stock after selling 137 shares during the quarter. Institute for Wealth Management LLC.’s holdings in Home Depot were worth $1,967,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. K.J. Harrison & Partners Inc boosted its holdings in Home Depot by 65.2% during the 4th quarter. K.J. Harrison & Partners Inc now owns 9,100 shares of the home improvement retailer’s stock worth $3,535,000 after acquiring an additional 3,590 shares during the last quarter. Wealth Management Partners LLC lifted its position in shares of Home Depot by 0.6% during the first quarter. Wealth Management Partners LLC now owns 6,506 shares of the home improvement retailer’s stock valued at $2,384,000 after purchasing an additional 36 shares in the last quarter. Ashton Thomas Private Wealth LLC boosted its holdings in Home Depot by 19.5% during the fourth quarter. Ashton Thomas Private Wealth LLC now owns 23,758 shares of the home improvement retailer’s stock worth $9,242,000 after purchasing an additional 3,873 shares during the last quarter. Disciplined Investors L.L.C. bought a new stake in Home Depot in the 4th quarter worth about $409,000. Finally, ARS Wealth Advisors Group LLC increased its stake in Home Depot by 0.8% in the 1st quarter. ARS Wealth Advisors Group LLC now owns 31,728 shares of the home improvement retailer’s stock valued at $11,628,000 after buying an additional 239 shares during the last quarter. Institutional investors own 70.86% of the company’s stock.

Wall Street Analyst Weigh In

HD has been the topic of several research analyst reports. Wedbush reissued an “outperform” rating and issued a $440.00 price objective on shares of Home Depot in a research report on Wednesday, February 26th. Robert W. Baird cut their target price on Home Depot from $430.00 to $425.00 and set an “outperform” rating for the company in a research note on Wednesday, May 21st. Hsbc Global Res upgraded Home Depot from a “moderate sell” rating to a “hold” rating in a research note on Wednesday, February 26th. Stifel Nicolaus raised shares of Home Depot from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $405.00 to $425.00 in a report on Wednesday, May 21st. Finally, Piper Sandler cut their target price on Home Depot from $435.00 to $418.00 and set an “overweight” rating for the company in a research note on Monday, March 24th. Seven research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $426.77.

Home Depot Trading Down 0.7%

Shares of NYSE HD opened at $346.41 on Thursday. The Home Depot, Inc. has a 1 year low of $326.31 and a 1 year high of $439.37. The company has a debt-to-equity ratio of 5.95, a current ratio of 1.09 and a quick ratio of 0.28. The firm has a 50-day moving average of $362.86 and a 200 day moving average of $381.18. The stock has a market cap of $344.65 billion, a P/E ratio of 23.50, a price-to-earnings-growth ratio of 3.32 and a beta of 1.02.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.59 by ($0.03). The business had revenue of $39.86 billion for the quarter, compared to analysts’ expectations of $39.24 billion. Home Depot had a net margin of 8.98% and a return on equity of 242.51%. Home Depot’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.63 earnings per share. As a group, sell-side analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Thursday, June 5th were paid a $2.30 dividend. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.66%. Home Depot’s dividend payout ratio is currently 62.42%.

Insider Activity

In other Home Depot news, EVP Fahim Siddiqui sold 2,600 shares of the stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $367.14, for a total transaction of $954,564.00. Following the sale, the executive vice president now directly owns 7,951 shares in the company, valued at approximately $2,919,130.14. This trade represents a 24.64% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of Home Depot stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $369.28, for a total value of $1,996,327.68. Following the completion of the sale, the executive vice president now owns 17,367 shares of the company’s stock, valued at $6,413,285.76. The trade was a 23.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.10% of the company’s stock.

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.