Granite Bay Wealth Management LLC Purchases Shares of 13,925 The Home Depot, Inc. (NYSE:HD)

Granite Bay Wealth Management LLC acquired a new stake in shares of The Home Depot, Inc. (NYSE:HD) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 13,925 shares of the home improvement retailer’s stock, valued at approximately $5,417,000. Home Depot comprises about 2.0% of Granite Bay Wealth Management LLC’s investment portfolio, making the stock its 19th largest position.

A number of other institutional investors have also recently made changes to their positions in the company. Abacus Wealth Partners LLC boosted its holdings in shares of Home Depot by 3.7% in the 3rd quarter. Abacus Wealth Partners LLC now owns 704 shares of the home improvement retailer’s stock valued at $285,000 after buying an additional 25 shares in the last quarter. Redhawk Wealth Advisors Inc. boosted its stake in Home Depot by 0.7% in the third 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 in the last quarter. Insight Inv LLC grew its holdings in Home Depot by 2.0% in the third quarter. Insight Inv LLC now owns 1,246 shares of the home improvement retailer’s stock worth $505,000 after purchasing an additional 25 shares during the last quarter. Capital City Trust Co. FL increased its position in shares of Home Depot by 1.1% during the third quarter. Capital City Trust Co. FL now owns 2,494 shares of the home improvement retailer’s stock worth $1,011,000 after purchasing an additional 26 shares in the last quarter. Finally, Highline Wealth Partners LLC lifted its holdings 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 purchasing an additional 26 shares during the last quarter. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Insider Transactions at Home Depot

In related news, 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 transaction, the executive vice president now owns 77,475 shares of the company’s stock, valued at $31,727,562. This represents a 17.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Teresa Wynn Roseborough sold 22,084 shares of the company’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $408.91, for a total value of $9,030,368.44. Following the transaction, the executive vice president now directly owns 20,404 shares of the company’s stock, valued at approximately $8,343,399.64. This represents a 51.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 38,188 shares of company stock valued at $15,624,585. 0.10% of the stock is currently owned by company insiders.

Home Depot Stock Down 0.1 %

Shares of NYSE:HD opened at $389.65 on Tuesday. The business has a 50-day moving average price of $406.03 and a 200 day moving average price of $386.31. The company has a market capitalization of $387.06 billion, a price-to-earnings ratio of 26.47, a PEG ratio of 2.90 and a beta of 1.05. The Home Depot, Inc. has a 12-month low of $323.77 and a 12-month high of $439.37. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65.

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

Home Depot Announces Dividend

The firm also recently declared 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 of this dividend was Wednesday, November 27th. This represents a $9.00 annualized dividend and a dividend yield of 2.31%. Home Depot’s dividend payout ratio (DPR) is 61.14%.

Analysts Set New Price Targets

Several brokerages recently weighed in on HD. Barclays boosted their target price on Home Depot from $372.00 to $420.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. DA Davidson increased their price objective on Home Depot from $430.00 to $466.00 and gave the company a “buy” rating in a report on Friday, October 25th. Piper Sandler raised their target price 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. Guggenheim lifted their price target on Home Depot from $390.00 to $450.00 and gave the company a “buy” rating in a research report on Friday, October 4th. Finally, Sanford C. Bernstein started coverage on shares of Home Depot in a research report on Tuesday, October 22nd. They issued a “market perform” rating and a $451.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $426.00.

Home Depot Company 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.