Abacus Wealth Partners LLC Boosts Holdings in The Home Depot, Inc. (NYSE:HD)

Abacus Wealth Partners LLC grew its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 3.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 704 shares of the home improvement retailer’s stock after acquiring an additional 25 shares during the quarter. Abacus Wealth Partners LLC’s holdings in Home Depot were worth $285,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Ruedi Wealth Management Inc. boosted its position in Home Depot by 1.2% in the second quarter. Ruedi Wealth Management Inc. now owns 2,372 shares of the home improvement retailer’s stock valued at $817,000 after buying an additional 27 shares during the last quarter. Acorn Creek Capital LLC boosted its position in Home Depot by 3.4% in the second quarter. Acorn Creek Capital LLC now owns 845 shares of the home improvement retailer’s stock valued at $291,000 after buying an additional 28 shares during the last quarter. Talisman Wealth Advisors LLC boosted its position in Home Depot by 1.2% in the first quarter. Talisman Wealth Advisors LLC now owns 2,385 shares of the home improvement retailer’s stock valued at $915,000 after buying an additional 29 shares during the last quarter. LMG Wealth Partners LLC boosted its position in Home Depot by 1.7% in the second quarter. LMG Wealth Partners LLC now owns 1,709 shares of the home improvement retailer’s stock valued at $588,000 after buying an additional 29 shares during the last quarter. Finally, Opes Wealth Management LLC lifted its holdings in Home Depot by 5.2% in the second quarter. Opes Wealth Management LLC now owns 591 shares of the home improvement retailer’s stock valued at $203,000 after acquiring an additional 29 shares during the period. 70.86% of the stock is owned by hedge funds and other institutional investors.

Home Depot Price Performance

HD opened at $411.56 on Friday. The company has a current ratio of 1.15, a quick ratio of 0.33 and a debt-to-equity ratio of 11.74. The firm has a market cap of $408.11 billion, a price-to-earnings ratio of 27.60, a PEG ratio of 2.71 and a beta of 1.00. The stock’s 50-day moving average price is $372.30 and its 200 day moving average price is $356.14. The Home Depot, Inc. has a 12-month low of $274.26 and a 12-month high of $412.97.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.59 by $0.08. The company had revenue of $43.18 billion for the quarter, compared to analyst estimates of $42.57 billion. Home Depot had a return on equity of 681.27% and a net margin of 9.71%. Home Depot’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter last year, the company earned $4.65 EPS. As a group, sell-side analysts expect that The Home Depot, Inc. will post 15.01 earnings per share for the current year.

Home Depot Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were given a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 2.19%. The ex-dividend date was Thursday, August 29th. Home Depot’s dividend payout ratio (DPR) is presently 60.36%.

Analyst Ratings Changes

A number of brokerages have issued reports on HD. Truist Financial decreased their price target on Home Depot from $396.00 to $395.00 and set a “buy” rating for the company in a report on Wednesday, August 14th. Stifel Nicolaus decreased their price target on Home Depot from $380.00 to $375.00 and set a “hold” rating for the company in a report on Wednesday, August 14th. Evercore ISI decreased their price target on Home Depot from $415.00 to $400.00 and set an “outperform” rating for the company in a report on Wednesday, August 14th. Piper Sandler boosted their price target on Home Depot from $387.00 to $455.00 and gave the company an “overweight” rating in a report on Monday. Finally, Melius Research initiated coverage on Home Depot in a report on Monday, September 23rd. They issued a “buy” rating and a $420.00 price target for the company. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty-one have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $396.23.

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.