MGB Wealth Management LLC Has $2.69 Million Stock Position in The Home Depot, Inc. (NYSE:HD)

MGB Wealth Management LLC decreased its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 9.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,647 shares of the home improvement retailer’s stock after selling 720 shares during the quarter. Home Depot makes up about 1.0% of MGB Wealth Management LLC’s holdings, making the stock its 19th biggest position. MGB Wealth Management LLC’s holdings in Home Depot were worth $2,686,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Fairway Wealth LLC bought a new stake in Home Depot in the 2nd quarter valued at $25,000. Kings Path Partners LLC bought a new position in shares of Home Depot during the 2nd quarter worth about $33,000. Livelsberger Financial Advisory bought a new position in shares of Home Depot during the 3rd quarter worth about $46,000. Denver PWM LLC bought a new position in shares of Home Depot during the 2nd quarter worth about $40,000. Finally, Abich Financial Wealth Management LLC lifted its holdings in shares of Home Depot by 68.0% during the 1st quarter. Abich Financial Wealth Management LLC now owns 126 shares of the home improvement retailer’s stock worth $48,000 after acquiring an additional 51 shares during the period. Institutional investors and hedge funds own 70.86% of the company’s stock.

Home Depot Stock Up 2.3 %

Shares of NYSE:HD opened at $420.00 on Friday. The Home Depot, Inc. has a one year low of $308.31 and a one year high of $421.56. The company has a 50 day moving average of $403.23 and a 200-day moving average of $369.04. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The stock has a market cap of $417.21 billion, a price-to-earnings ratio of 28.53, a P/E/G ratio of 2.85 and a beta of 1.01.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 EPS for the quarter, topping the consensus estimate of $3.64 by $0.14. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The company had revenue of $40.22 billion during the quarter, compared to analysts’ expectations of $39.31 billion. During the same quarter in the previous year, the company earned $3.81 EPS. Home Depot’s revenue was up 6.6% on a year-over-year basis. On average, sell-side analysts forecast that The Home Depot, Inc. will post 15.12 earnings per share for the current year.

Home Depot Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Wednesday, November 27th will be paid a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 2.14%. The ex-dividend date is Wednesday, November 27th. Home Depot’s payout ratio is 61.14%.

Insider Buying and Selling

In related news, EVP Timothy A. Hourigan sold 16,004 shares of Home Depot stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $409.52, for a total transaction of $6,553,958.08. Following the transaction, the executive vice president now owns 77,475 shares of the company’s stock, valued at $31,727,562. This trade represents a 17.12 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Ann Marie Campbell sold 100 shares of Home Depot stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $402.58, for a total transaction of $40,258.00. Following the transaction, the executive vice president now directly owns 12,465 shares in the company, valued at $5,018,159.70. The trade was a 0.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 38,188 shares of company stock valued at $15,624,585 in the last 90 days. 0.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on HD shares. Telsey Advisory Group raised shares of Home Depot from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $360.00 to $455.00 in a report on Friday, November 8th. Piper Sandler raised their price objective on shares of Home Depot from $387.00 to $455.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Loop Capital raised shares of Home Depot from a “hold” rating to a “buy” rating and raised their price objective for the stock from $360.00 to $460.00 in a report on Wednesday, October 9th. Wells Fargo & Company lifted their price target on shares of Home Depot from $400.00 to $430.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. Finally, TD Cowen lifted their price target on shares of Home Depot from $440.00 to $460.00 and gave the company a “buy” rating in a report on Monday, October 28th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat, Home Depot has an average rating of “Moderate Buy” and an average price target of $426.00.

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.