Pacific Wealth Strategies Group Inc. Sells 57 Shares of The Home Depot, Inc. (NYSE:HD)

Pacific Wealth Strategies Group Inc. lessened its stake in The Home Depot, Inc. (NYSE:HD) by 1.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,889 shares of the home improvement retailer’s stock after selling 57 shares during the quarter. Home Depot comprises about 1.6% of Pacific Wealth Strategies Group Inc.’s investment portfolio, making the stock its 16th largest holding. Pacific Wealth Strategies Group Inc.’s holdings in Home Depot were worth $1,694,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Keener Financial Planning LLC bought a new stake in shares of Home Depot in the fourth quarter worth about $31,000. PFG Private Wealth Management LLC boosted its position in shares of Home Depot by 53.3% during the fourth quarter. PFG Private Wealth Management LLC now owns 92 shares of the home improvement retailer’s stock worth $32,000 after buying an additional 32 shares during the period. Gilfoyle & Co LLC acquired a new position in shares of Home Depot during the fourth quarter worth about $35,000. Briaud Financial Planning Inc acquired a new position in shares of Home Depot during the third quarter worth about $41,000. Finally, Quantbot Technologies LP acquired a new position in shares of Home Depot during the third quarter worth about $64,000. 70.86% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Home Depot news, EVP Timothy A. Hourigan sold 8,996 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was 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 owns 75,799 shares in the company, valued at approximately $27,950,123.26. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CEO Edward P. Decker sold 35,987 shares of Home Depot stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $368.63, for a total value of $13,265,887.81. Following the transaction, the chief executive officer now owns 107,731 shares in the company, valued at approximately $39,712,878.53. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Timothy A. Hourigan sold 8,996 shares of Home Depot stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $368.74, for a total value of $3,317,185.04. Following the completion of the transaction, the executive vice president now owns 75,799 shares in the company, valued at approximately $27,950,123.26. The disclosure for this sale can be found here. Corporate insiders own 0.10% of the company’s stock.

Home Depot Stock Performance

Shares of NYSE HD traded up $3.74 during trading hours on Tuesday, reaching $339.85. 1,937,116 shares of the stock were exchanged, compared to its average volume of 3,328,468. The firm has a market capitalization of $336.80 billion, a price-to-earnings ratio of 22.33, a P/E/G ratio of 2.23 and a beta of 0.98. The company has a debt-to-equity ratio of 40.94, a quick ratio of 0.40 and a current ratio of 1.35. The Home Depot, Inc. has a 52 week low of $274.26 and a 52 week high of $396.87. The stock’s fifty day simple moving average is $366.77 and its 200 day simple moving average is $340.19.

Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, February 20th. The home improvement retailer reported $2.82 EPS for the quarter, topping analysts’ consensus estimates of $2.77 by $0.05. Home Depot had a return on equity of 1,452.22% and a net margin of 9.92%. The firm had revenue of $34.79 billion for the quarter, compared to analyst estimates of $34.64 billion. During the same quarter last year, the company earned $3.30 EPS. The company’s revenue was down 2.9% on a year-over-year basis. Sell-side analysts predict that The Home Depot, Inc. will post 15.37 EPS for the current year.

Home Depot Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Shareholders of record on Thursday, March 7th were paid a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 2.65%. The ex-dividend date was Wednesday, March 6th. This is a positive change from Home Depot’s previous quarterly dividend of $2.09. Home Depot’s dividend payout ratio (DPR) is 59.60%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Wedbush upped their price objective on Home Depot from $380.00 to $410.00 and gave the stock an “outperform” rating in a research report on Monday, April 1st. Truist Financial reaffirmed a “buy” rating and set a $417.00 price objective on shares of Home Depot in a research report on Wednesday, April 17th. Barclays raised Home Depot from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $325.00 to $372.00 in a research report on Thursday, January 4th. Citigroup upped their price objective on Home Depot from $333.00 to $415.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Finally, DA Davidson reissued a “neutral” rating and set a $370.00 price target on shares of Home Depot in a research report on Monday, April 1st. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $375.96.

Home Depot 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.