IHT Wealth Management LLC Reduces Stake in The Home Depot, Inc. (NYSE:HD)

IHT Wealth Management LLC decreased its stake in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 27.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,280 shares of the home improvement retailer's stock after selling 9,298 shares during the quarter. IHT Wealth Management LLC's holdings in Home Depot were worth $9,444,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in HD. Norges Bank bought a new stake in shares of Home Depot in the 4th quarter valued at about $5,032,910,000. Raymond James Financial Inc. bought a new position in Home Depot in the fourth quarter worth approximately $2,212,546,000. Proficio Capital Partners LLC lifted its holdings in Home Depot by 21,394.9% during the fourth quarter. Proficio Capital Partners LLC now owns 2,039,862 shares of the home improvement retailer's stock worth $793,486,000 after buying an additional 2,030,372 shares during the period. Vanguard Group Inc. boosted its position in Home Depot by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 95,763,752 shares of the home improvement retailer's stock valued at $37,251,142,000 after acquiring an additional 875,836 shares in the last quarter. Finally, APG Asset Management N.V. increased its holdings in shares of Home Depot by 559.5% in the 4th quarter. APG Asset Management N.V. now owns 1,032,082 shares of the home improvement retailer's stock valued at $387,706,000 after acquiring an additional 875,591 shares during the period. 70.86% of the stock is currently owned by institutional investors.

Home Depot Price Performance

HD stock traded up $2.60 during mid-day trading on Wednesday, reaching $357.03. 3,282,704 shares of the company's stock were exchanged, compared to its average volume of 3,469,995. The company has a market cap of $354.90 billion, a price-to-earnings ratio of 24.25, a price-to-earnings-growth ratio of 4.03 and a beta of 1.09. The Home Depot, Inc. has a 12-month low of $323.77 and a 12-month high of $439.37. The stock's 50 day moving average is $365.88 and its 200 day moving average is $393.13. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31.

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

Home Depot Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were issued a dividend of $2.30 per share. This is a positive change from Home Depot's previous quarterly dividend of $2.25. The ex-dividend date was Thursday, March 13th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.58%. Home Depot's dividend payout ratio is presently 61.66%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on HD shares. Guggenheim reaffirmed a "buy" rating and set a $450.00 price objective on shares of Home Depot in a research report on Wednesday, February 26th. Telsey Advisory Group restated an "outperform" rating and set a $455.00 target price on shares of Home Depot in a research note on Wednesday, February 26th. KGI Securities raised Home Depot to a "strong-buy" rating in a report on Monday, March 3rd. Robert W. Baird cut their price objective on shares of Home Depot from $440.00 to $430.00 and set an "outperform" rating on the stock in a report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Home Depot from $450.00 to $475.00 and gave the company an "overweight" rating in a research report on Monday, February 10th. Ten 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. According to MarketBeat.com, the stock has a consensus 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.