Phoenix Wealth Advisors Has $3.38 Million Position in The Home Depot, Inc. (NYSE:HD)

Phoenix Wealth Advisors lowered its position in shares of The Home Depot, Inc. (NYSE:HD) by 3.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,780 shares of the home improvement retailer’s stock after selling 341 shares during the period. Home Depot makes up approximately 2.4% of Phoenix Wealth Advisors’ portfolio, making the stock its 9th largest position. Phoenix Wealth Advisors’ holdings in Home Depot were worth $3,375,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Fairfield Bush & CO. bought a new stake in Home Depot in the 1st quarter worth approximately $27,000. KB Financial Partners LLC bought a new stake in Home Depot in the 1st quarter worth approximately $28,000. Keener Financial Planning LLC bought a new stake in Home Depot in the 4th quarter worth approximately $31,000. PFG Private Wealth Management LLC grew its position in 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 worth $32,000 after purchasing an additional 32 shares during the period. Finally, Studio Investment Management LLC bought a new stake in Home Depot in the 4th quarter worth approximately $32,000. Institutional investors own 70.86% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Stifel Nicolaus lifted their target price on shares of Home Depot from $355.00 to $366.00 and gave the stock a “hold” rating in a research report on Friday, February 16th. TD Cowen boosted their price objective on shares of Home Depot from $415.00 to $440.00 and gave the company an “outperform” rating in a research report on Monday, March 4th. Truist Financial reissued a “buy” rating and set a $417.00 price objective on shares of Home Depot in a research report on Wednesday. Piper Sandler raised shares of Home Depot from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $311.00 to $400.00 in a research report on Tuesday, January 16th. Finally, Bank of America boosted their price objective on shares of Home Depot from $400.00 to $425.00 and gave the company a “buy” rating in a research report on Monday, April 1st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $375.96.

Insider Activity

In other 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 transaction of $3,317,185.04. Following the sale, 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 filing with the Securities & Exchange Commission, which can be accessed through this link. In related 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 transaction 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 accessible through the SEC website. Also, CEO Edward P. Decker sold 35,987 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $368.63, for a total transaction of $13,265,887.81. Following the transaction, the chief executive officer now owns 107,731 shares in the company, valued at $39,712,878.53. The disclosure for this sale can be found here. Corporate insiders own 0.10% of the company’s stock.

Home Depot Stock Down 0.6 %

Shares of HD stock opened at $332.83 on Thursday. The stock has a market cap of $329.84 billion, a P/E ratio of 22.04, a PEG ratio of 2.23 and a beta of 0.98. The Home Depot, Inc. has a 52 week low of $274.26 and a 52 week high of $396.87. The company has a quick ratio of 0.40, a current ratio of 1.35 and a debt-to-equity ratio of 40.94. The company’s fifty day simple moving average is $368.54 and its two-hundred day simple moving average is $339.01.

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, February 20th. The home improvement retailer reported $2.82 EPS for the quarter, topping the consensus estimate of $2.77 by $0.05. The business had revenue of $34.79 billion for the quarter, compared to analysts’ expectations 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 quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.30 EPS. Analysts predict that The Home Depot, Inc. will post 15.37 EPS for the current fiscal year.

Home Depot Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Thursday, March 7th were given a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 2.70%. This is a boost from Home Depot’s previous quarterly dividend of $2.09. The ex-dividend date was Wednesday, March 6th. Home Depot’s dividend payout ratio is currently 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.