Concord Wealth Partners Sells 1,021 Shares of The Home Depot, Inc. (NYSE:HD)

Concord Wealth Partners trimmed its stake in The Home Depot, Inc. (NYSE:HD) by 8.9% in the 1st quarter, Holdings Channel.com reports. The firm owned 10,482 shares of the home improvement retailer’s stock after selling 1,021 shares during the period. Concord Wealth Partners’ holdings in Home Depot were worth $3,842,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of HD. Asset Planning Services Inc. LA ADV increased its holdings in shares of Home Depot by 99,400.7% in the 1st quarter. Asset Planning Services Inc. LA ADV now owns 18,975,772 shares of the home improvement retailer’s stock valued at $6,954,431,000 after acquiring an additional 18,956,701 shares during the period. Norges Bank purchased a new position in Home Depot during the 4th quarter worth $5,032,910,000. GAMMA Investing LLC lifted its position in Home Depot by 39,194.1% during the 1st quarter. GAMMA Investing LLC now owns 10,236,903 shares of the home improvement retailer’s stock worth $37,517,230,000 after acquiring an additional 10,210,851 shares during the period. Northern Trust Corp lifted its position in Home Depot by 13.3% during the 4th quarter. Northern Trust Corp now owns 12,149,890 shares of the home improvement retailer’s stock worth $4,726,186,000 after acquiring an additional 1,424,857 shares during the period. Finally, Castlekeep Investment Advisors LLC acquired a new stake in Home Depot during the 4th quarter worth about $471,189,000. 70.86% of the stock is owned by institutional investors.

Insider Activity at Home Depot

In other Home Depot news, EVP Fahim Siddiqui sold 2,600 shares of Home Depot stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $367.14, for a total value of $954,564.00. Following the completion of the sale, the executive vice president directly owned 7,951 shares of the company’s stock, valued at approximately $2,919,130.14. The trade was a 24.64% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of Home Depot stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $369.28, for a total transaction of $1,996,327.68. Following the completion of the sale, the executive vice president directly owned 17,367 shares of the company’s stock, valued at $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. Insiders own 0.10% of the company’s stock.

Wall Street Analyst Weigh In

HD has been the subject of several analyst reports. JPMorgan Chase & Co. boosted their price objective on Home Depot from $410.00 to $418.00 and gave the company an “overweight” rating in a report on Wednesday, May 21st. Morgan Stanley restated an “overweight” rating and issued a $415.00 price target (up from $410.00) on shares of Home Depot in a research report on Tuesday, May 20th. Royal Bank Of Canada lowered their price objective on Home Depot from $424.00 to $399.00 and set a “sector perform” rating for the company in a research report on Thursday, May 15th. Stifel Nicolaus upgraded Home Depot from a “hold” rating to a “buy” rating and increased their price objective for the company from $405.00 to $425.00 in a research note on Wednesday, May 21st. Finally, Telsey Advisory Group reissued an “outperform” rating and issued a $455.00 target price on shares of Home Depot in a report on Monday, June 30th. Seven analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $426.77.

Home Depot Price Performance

Shares of NYSE:HD opened at $357.22 on Thursday. The company has a quick ratio of 0.28, a current ratio of 1.09 and a debt-to-equity ratio of 5.95. The company has a market cap of $355.40 billion, a P/E ratio of 24.23, a PEG ratio of 3.41 and a beta of 1.00. The Home Depot, Inc. has a 52 week low of $326.31 and a 52 week high of $439.37. The company has a 50-day moving average price of $366.20 and a 200 day moving average price of $374.90.

Home Depot (NYSE:HD) last posted its quarterly earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.59 by ($0.03). Home Depot had a net margin of 8.98% and a return on equity of 242.51%. The company had revenue of $39.86 billion for the quarter, compared to analyst estimates of $39.24 billion. During the same quarter in the previous year, the business posted $3.63 earnings per share. Home Depot’s revenue was up 9.4% on a year-over-year basis. Research analysts predict that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Thursday, June 5th were given a dividend of $2.30 per share. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $9.20 annualized dividend and a dividend yield of 2.58%. Home Depot’s dividend payout ratio is currently 62.42%.

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.