Noble Wealth Management PBC Acquires New Shares in The Home Depot, Inc. (NYSE:HD)

Noble Wealth Management PBC bought a new position in shares of The Home Depot, Inc. (NYSE:HD) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 497 shares of the home improvement retailer’s stock, valued at approximately $193,000.

Several other institutional investors also recently modified their holdings of the stock. Synergy Asset Management LLC acquired a new position in Home Depot during the fourth quarter valued at approximately $26,000. Wingate Wealth Advisors Inc. bought a new position in shares of Home Depot during the fourth quarter worth $28,000. Bradley & Co. Private Wealth Management LLC bought a new position in shares of Home Depot during the fourth quarter worth $32,000. Legacy Investment Solutions LLC acquired a new position in shares of Home Depot in the 3rd quarter valued at $41,000. Finally, Sugar Maple Asset Management LLC bought a new stake in shares of Home Depot in the 4th quarter valued at $41,000. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have weighed in on HD. Telsey Advisory Group reiterated an “outperform” rating and set a $455.00 target price on shares of Home Depot in a report on Wednesday. Guggenheim reiterated a “buy” rating and set a $450.00 price objective on shares of Home Depot in a report on Wednesday. HSBC raised Home Depot from a “reduce” rating to a “hold” rating and increased their target price for the stock from $356.00 to $410.00 in a research note on Wednesday. Truist Financial cut their price target on shares of Home Depot from $467.00 to $437.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, Wedbush reissued an “outperform” rating and set a $440.00 price objective on shares of Home Depot in a research report on Wednesday. Nine equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $436.50.

Home Depot Stock Performance

Shares of HD opened at $396.69 on Friday. The company has a market cap of $394.06 billion, a PE ratio of 26.95, a price-to-earnings-growth ratio of 4.03 and a beta of 1.05. The firm has a 50-day moving average of $401.36 and a 200-day moving average of $399.06. The Home Depot, Inc. has a one year low of $323.77 and a one year high of $439.37. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS for the quarter, topping analysts’ consensus estimates of $3.04 by $0.09. The business had revenue of $39.70 billion during the quarter, compared to analysts’ expectations of $39.15 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. Home Depot’s quarterly revenue was up 14.1% on a year-over-year basis. During the same quarter last year, the company posted $2.82 earnings per share. As a group, equities analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Thursday, March 13th will be paid a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date is Thursday, March 13th. This is a boost from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s dividend payout ratio is 61.66%.

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.