Alpha Cubed Investments LLC Sells 2,343 Shares of The Home Depot, Inc. (NYSE:HD)

Alpha Cubed Investments LLC reduced its holdings in The Home Depot, Inc. (NYSE:HD) by 6.5% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 33,923 shares of the home improvement retailer’s stock after selling 2,343 shares during the quarter. Alpha Cubed Investments LLC’s holdings in Home Depot were worth $13,745,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Fairway Wealth LLC bought a new stake in Home Depot in the second quarter worth approximately $25,000. Kings Path Partners LLC bought a new stake in shares of Home Depot during the second quarter valued at approximately $33,000. A.P. Gilfoyle & Co. L.P. bought a new stake in shares of Home Depot during the first quarter valued at approximately $38,000. Livelsberger Financial Advisory bought a new stake in shares of Home Depot during the fourth quarter valued at approximately $39,000. Finally, Denver PWM LLC bought a new stake in shares of Home Depot during the second quarter valued at approximately $40,000. 70.86% of the stock is currently owned by institutional investors.

Home Depot Stock Performance

NYSE:HD opened at $408.23 on Tuesday. The company has a debt-to-equity ratio of 11.74, a quick ratio of 0.33 and a current ratio of 1.15. The Home Depot, Inc. has a 52-week low of $274.26 and a 52-week high of $412.97. The firm has a market cap of $404.81 billion, a price-to-earnings ratio of 27.38, a PEG ratio of 2.71 and a beta of 1.00. The business’s fifty day moving average is $373.28 and its 200 day moving average is $356.04.

Home Depot (NYSE:HD) last released its quarterly earnings data 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. Home Depot had a return on equity of 681.27% and a net margin of 9.71%. The company had revenue of $43.18 billion for the quarter, compared to analyst estimates of $42.57 billion. During the same period in the previous year, the company posted $4.65 EPS. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. Research analysts predict that The Home Depot, Inc. will post 15.01 EPS for the current year.

Home Depot Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Thursday, August 29th were paid a dividend of $2.25 per share. The ex-dividend date was Thursday, August 29th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.20%. Home Depot’s payout ratio is 60.36%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on HD. Truist Financial decreased their price objective on Home Depot from $396.00 to $395.00 and set a “buy” rating for the company in a report on Wednesday, August 14th. Jefferies Financial Group began coverage on Home Depot in a report on Tuesday, July 16th. They set a “buy” rating and a $426.00 price objective for the company. Melius Research began coverage on Home Depot in a report on Monday, September 23rd. They set a “buy” rating and a $420.00 price objective for the company. Telsey Advisory Group reiterated a “market perform” rating and set a $360.00 price target on shares of Home Depot in a report on Thursday, September 12th. Finally, DA Davidson upped their price target on Home Depot from $395.00 to $430.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty-one have assigned a buy rating to the stock. Based on data from MarketBeat, Home Depot currently has an average rating of “Moderate Buy” and a consensus price target of $398.54.

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.