Elevation Point Wealth Partners LLC Decreases Stock Position in The Home Depot, Inc. (NYSE:HD)

Elevation Point Wealth Partners LLC reduced its position in The Home Depot, Inc. (NYSE:HD) by 0.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,163 shares of the home improvement retailer’s stock after selling 56 shares during the quarter. Elevation Point Wealth Partners LLC’s holdings in Home Depot were worth $4,458,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the company. Wealth Group Ltd. boosted its holdings in shares of Home Depot by 5.0% in the fourth quarter. Wealth Group Ltd. now owns 563 shares of the home improvement retailer’s stock worth $219,000 after acquiring an additional 27 shares during the period. Tallon Kerry Patrick bought a new position in shares of Home Depot in the fourth quarter worth $281,000. Capital & Planning LLC boosted its stake in Home Depot by 110.2% during the fourth quarter. Capital & Planning LLC now owns 1,074 shares of the home improvement retailer’s stock valued at $418,000 after buying an additional 563 shares during the period. Ironwood Wealth Management LLC. boosted its stake in Home Depot by 0.7% during the fourth quarter. Ironwood Wealth Management LLC. now owns 4,537 shares of the home improvement retailer’s stock valued at $1,765,000 after buying an additional 32 shares during the period. Finally, Brighton Jones LLC boosted its stake in Home Depot by 36.5% during the fourth quarter. Brighton Jones LLC now owns 26,918 shares of the home improvement retailer’s stock valued at $10,471,000 after buying an additional 7,203 shares during the period. 70.86% of the stock is owned by hedge funds and other institutional investors.

Home Depot Stock Down 2.5%

HD opened at $354.10 on Friday. The company has a market cap of $352.31 billion, a P/E ratio of 24.06, a P/E/G ratio of 4.03 and a beta of 1.02. The business’s 50-day moving average price is $362.73 and its 200-day moving average price is $382.81. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The Home Depot, Inc. has a 12 month low of $326.31 and a 12 month high of $439.37.

Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, May 20th. The home improvement retailer reported $3.56 EPS for the quarter, missing the consensus estimate of $3.59 by ($0.03). Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The company had revenue of $39.86 billion during the quarter, compared to analysts’ expectations of $39.24 billion. During the same quarter in the prior year, the firm posted $3.63 EPS. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. On average, equities analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Thursday, June 5th will be issued a dividend of $2.30 per share. The ex-dividend date is Thursday, June 5th. This represents a $9.20 dividend on an annualized basis and a yield of 2.60%. Home Depot’s dividend payout ratio is presently 62.42%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on HD shares. TD Securities lowered Home Depot to a “buy” rating in a research note on Monday, June 2nd. Mizuho dropped their price objective on Home Depot from $450.00 to $435.00 and set an “outperform” rating for the company in a research note on Wednesday, May 21st. Royal Bank of Canada dropped their price objective on Home Depot from $424.00 to $399.00 and set a “sector perform” rating for the company in a research note on Thursday, May 15th. Robert W. Baird dropped their price objective on Home Depot from $430.00 to $425.00 and set an “outperform” rating for the company in a research note on Wednesday, May 21st. Finally, JPMorgan Chase & Co. lifted their price objective on Home Depot from $410.00 to $418.00 and gave the company an “overweight” rating in a research note on Wednesday, May 21st. Seven analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Home Depot has a consensus rating of “Moderate Buy” and an average price target of $426.77.

Insider Activity at Home Depot

In related news, EVP Fahim Siddiqui sold 2,600 shares of the business’s stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $367.14, for a total transaction of $954,564.00. Following the transaction, the executive vice president now owns 7,951 shares in the company, valued at $2,919,130.14. The trade was a 24.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of Home Depot stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $369.28, for a total value of $1,996,327.68. Following the sale, the executive vice president now directly owns 17,367 shares in the company, valued at approximately $6,413,285.76. The trade was a 23.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.10% of the stock is owned by company insiders.

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.