Aberdeen Wealth Management LLC Trims Stock Position in The Home Depot, Inc. (NYSE:HD)

Aberdeen Wealth Management LLC trimmed its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 1.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,029 shares of the home improvement retailer’s stock after selling 113 shares during the period. Home Depot accounts for about 2.1% of Aberdeen Wealth Management LLC’s investment portfolio, making the stock its 8th biggest holding. Aberdeen Wealth Management LLC’s holdings in Home Depot were worth $3,253,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Texas Capital Bank Wealth Management Services Inc raised its position in shares of Home Depot by 27.6% in the 2nd quarter. Texas Capital Bank Wealth Management Services Inc now owns 27,155 shares of the home improvement retailer’s stock valued at $9,348,000 after acquiring an additional 5,879 shares during the period. Pegasus Asset Management Inc. raised its holdings in Home Depot by 1.8% in the third quarter. Pegasus Asset Management Inc. now owns 4,994 shares of the home improvement retailer’s stock worth $2,024,000 after purchasing an additional 86 shares during the period. Swedbank AB boosted its position in shares of Home Depot by 17.1% during the third quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer’s stock worth $368,542,000 after purchasing an additional 132,967 shares in the last quarter. LGT Group Foundation boosted its position in shares of Home Depot by 121.0% during the second quarter. LGT Group Foundation now owns 269,368 shares of the home improvement retailer’s stock worth $92,727,000 after purchasing an additional 147,482 shares in the last quarter. Finally, CX Institutional grew its holdings in shares of Home Depot by 225.6% in the 3rd quarter. CX Institutional now owns 32,717 shares of the home improvement retailer’s stock valued at $13,257,000 after buying an additional 22,668 shares during the period. 70.86% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Teresa Wynn Roseborough sold 22,084 shares of the company’s stock in a transaction dated Thursday, November 14th. The shares were 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 in the company, valued at approximately $8,343,399.64. This represents a 51.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. UBS Group lifted their target price on Home Depot from $400.00 to $425.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Telsey Advisory Group upgraded Home Depot from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $360.00 to $455.00 in a research report on Friday, November 8th. Truist Financial raised their target price on shares of Home Depot from $459.00 to $465.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Gordon Haskett raised shares of Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 price target on the stock in a research note on Wednesday, October 2nd. Finally, TD Cowen increased their price objective on shares of Home Depot from $440.00 to $460.00 and gave the stock a “buy” rating in a research 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 company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $426.00.

Home Depot Price Performance

NYSE:HD opened at $410.44 on Tuesday. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The Home Depot, Inc. has a 12-month low of $302.34 and a 12-month high of $421.56. The stock’s 50 day moving average price is $400.41 and its two-hundred day moving average price is $367.33. The firm has a market capitalization of $407.69 billion, a price-to-earnings ratio of 27.88, a P/E/G ratio of 2.84 and a beta of 1.01.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share for the quarter, beating 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 analysts’ expectations of $39.31 billion. During the same quarter in the prior year, the business earned $3.81 EPS. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. On average, analysts anticipate that The Home Depot, Inc. will post 15.12 earnings per share for the current year.

Home Depot Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th will be issued a $2.25 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $9.00 annualized dividend and a yield of 2.19%. Home Depot’s dividend payout ratio is currently 61.14%.

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.