Eastern Bank Sells 5,509 Shares of The Home Depot, Inc. (NYSE:HD)

Eastern Bank lessened its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 4.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 106,613 shares of the home improvement retailer’s stock after selling 5,509 shares during the period. Eastern Bank’s holdings in Home Depot were worth $41,471,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of HD. Abacus Wealth Partners LLC increased its position in shares of Home Depot by 3.7% during the 3rd quarter. Abacus Wealth Partners LLC now owns 704 shares of the home improvement retailer’s stock valued at $285,000 after purchasing an additional 25 shares during the last quarter. Redhawk Wealth Advisors Inc. grew its stake in shares of Home Depot by 0.7% during the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 3,624 shares of the home improvement retailer’s stock valued at $1,469,000 after acquiring an additional 25 shares during the period. Insight Inv LLC grew its stake in shares of Home Depot by 2.0% during the 3rd quarter. Insight Inv LLC now owns 1,246 shares of the home improvement retailer’s stock valued at $505,000 after acquiring an additional 25 shares during the period. Capital City Trust Co. FL grew its stake in shares of Home Depot by 1.1% during the 3rd quarter. Capital City Trust Co. FL now owns 2,494 shares of the home improvement retailer’s stock valued at $1,011,000 after acquiring an additional 26 shares during the period. Finally, Highline Wealth Partners LLC grew its stake in shares of Home Depot by 0.4% during the 4th quarter. Highline Wealth Partners LLC now owns 5,962 shares of the home improvement retailer’s stock valued at $2,319,000 after acquiring an additional 26 shares during the period. Institutional investors own 70.86% of the company’s stock.

Insiders Place Their Bets

In other Home Depot news, EVP Ann Marie Campbell sold 100 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $402.58, for a total value of $40,258.00. Following the sale, the executive vice president now owns 12,465 shares in the company, valued at $5,018,159.70. This trade represents a 0.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Timothy A. Hourigan sold 16,004 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $409.52, for a total value of $6,553,958.08. Following the completion of the sale, the executive vice president now owns 77,475 shares in the company, valued at approximately $31,727,562. The trade was a 17.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 38,188 shares of company stock worth $15,624,585 over the last quarter. Company insiders own 0.10% of the company’s stock.

Home Depot Stock Performance

NYSE:HD opened at $389.65 on Tuesday. The stock’s fifty day moving average is $406.03 and its 200 day moving average is $386.31. The Home Depot, Inc. has a fifty-two week low of $323.77 and a fifty-two week high of $439.37. The firm has a market capitalization of $387.06 billion, a PE ratio of 26.47, a PEG ratio of 2.90 and a beta of 1.05. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share for the quarter, topping analysts’ consensus estimates of $3.64 by $0.14. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The business had revenue of $40.22 billion for the quarter, compared to analyst estimates of $39.31 billion. During the same quarter last year, the firm posted $3.81 earnings per share. The business’s revenue was up 6.6% compared to the same quarter last year. On average, sell-side analysts anticipate that The Home Depot, Inc. will post 15.12 earnings per share for the current year.

Home Depot Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th were paid a $2.25 dividend. The ex-dividend date was Wednesday, November 27th. This represents a $9.00 dividend on an annualized basis and a yield of 2.31%. Home Depot’s payout ratio is 61.14%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Barclays boosted their price objective on Home Depot from $372.00 to $420.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Morgan Stanley boosted their price objective on Home Depot from $380.00 to $450.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Guggenheim upped their price target on Home Depot from $390.00 to $450.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. Loop Capital upgraded Home Depot from a “hold” rating to a “buy” rating and upped their price target for the stock from $360.00 to $460.00 in a research note on Wednesday, October 9th. Finally, Wells Fargo & Company upped their price target on Home Depot from $400.00 to $430.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Home Depot currently has an average rating of “Moderate Buy” and a consensus target price 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.