Belpointe Asset Management LLC Has $4.53 Million Holdings in The Home Depot, Inc. (NYSE:HD)

Belpointe Asset Management LLC reduced its holdings in The Home Depot, Inc. (NYSE:HD - Free Report) by 16.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 12,289 shares of the home improvement retailer's stock after selling 2,347 shares during the quarter. Belpointe Asset Management LLC's holdings in Home Depot were worth $4,529,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Synergy Asset Management LLC acquired a new position in shares of Home Depot during the fourth quarter worth approximately $26,000. Wingate Wealth Advisors Inc. acquired a new position in Home Depot during the 4th quarter valued at $28,000. Bradley & Co. Private Wealth Management LLC acquired a new position in Home Depot during the 4th quarter valued at $32,000. Sellwood Investment Partners LLC bought a new stake in Home Depot in the 4th quarter valued at $39,000. Finally, NewSquare Capital LLC grew its position in Home Depot by 200.0% in the 4th quarter. NewSquare Capital LLC now owns 102 shares of the home improvement retailer's stock worth $40,000 after purchasing an additional 68 shares during the last quarter. 70.86% of the stock is owned by institutional investors and hedge funds.

Home Depot Trading Up 0.9 %

HD stock traded up $3.06 during midday trading on Monday, reaching $356.92. The stock had a trading volume of 2,841,813 shares, compared to its average volume of 3,487,086. The firm has a market cap of $354.79 billion, a price-to-earnings ratio of 24.25, a PEG ratio of 4.03 and a beta of 1.09. The Home Depot, Inc. has a twelve month low of $323.77 and a twelve month high of $439.37. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The business has a fifty day simple moving average of $374.14 and a two-hundred day simple moving average of $395.67.

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Home Depot (NYSE:HD - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS for the quarter, topping the consensus estimate of $3.04 by $0.09. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The company had revenue of $39.70 billion during the quarter, compared to analysts' expectations of $39.15 billion. During the same quarter in the previous year, the company earned $2.82 EPS. Home Depot's revenue was up 14.1% on a year-over-year basis. As a group, research analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were given a $2.30 dividend. This is a positive change from Home Depot's previous quarterly dividend of $2.25. This represents a $9.20 annualized dividend and a dividend yield of 2.58%. The ex-dividend date of this dividend was Thursday, March 13th. Home Depot's dividend payout ratio (DPR) is currently 61.66%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on HD shares. HSBC upgraded shares of Home Depot from a "reduce" rating to a "hold" rating and increased their target price for the company from $356.00 to $410.00 in a research note on Wednesday, February 26th. Piper Sandler decreased their price objective on Home Depot from $435.00 to $418.00 and set an "overweight" rating on the stock in a report on Monday, March 24th. Wedbush restated an "outperform" rating and issued a $440.00 target price on shares of Home Depot in a research note on Wednesday, February 26th. JPMorgan Chase & Co. lifted their price target on shares of Home Depot from $450.00 to $475.00 and gave the stock an "overweight" rating in a research note on Monday, February 10th. Finally, Royal Bank of Canada lowered their price target on shares of Home Depot from $431.00 to $424.00 and set a "sector perform" rating on the stock in a report on Wednesday, February 26th. Ten analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Home Depot currently has an average rating of "Moderate Buy" and an average target price of $434.08.

Home Depot Company 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.