Inlight Wealth Management LLC Invests $347,000 in The Home Depot, Inc. (NYSE:HD)

Inlight Wealth Management LLC purchased a new position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 892 shares of the home improvement retailer's stock, valued at approximately $347,000.

Several other hedge funds also recently bought and sold shares of HD. Hobbs Wealth Management LLC purchased a new position in shares of Home Depot during the 4th quarter worth about $271,000. Heritage Trust Co purchased a new position in Home Depot during the fourth quarter worth approximately $12,477,000. Tandem Wealth Advisors LLC grew its stake in shares of Home Depot by 4.1% during the 4th quarter. Tandem Wealth Advisors LLC now owns 744 shares of the home improvement retailer's stock valued at $289,000 after buying an additional 29 shares during the period. Jaffetilchin Investment Partners LLC increased its holdings in shares of Home Depot by 6.0% during the 4th quarter. Jaffetilchin Investment Partners LLC now owns 13,608 shares of the home improvement retailer's stock worth $5,293,000 after buying an additional 766 shares during the last quarter. Finally, Texas Capital Bank Wealth Management Services Inc boosted its holdings in Home Depot by 2.5% in the fourth quarter. Texas Capital Bank Wealth Management Services Inc now owns 23,624 shares of the home improvement retailer's stock valued at $9,189,000 after acquiring an additional 583 shares during the last quarter. Hedge funds and other institutional investors own 70.86% of the company's stock.

Home Depot Price Performance

HD stock traded down $2.50 on Tuesday, hitting $354.70. 1,073,821 shares of the company's stock traded hands, compared to its average volume of 3,477,764. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The stock has a market cap of $352.58 billion, a price-to-earnings ratio of 24.10, a P/E/G ratio of 4.03 and a beta of 1.09. The Home Depot, Inc. has a 1-year low of $323.77 and a 1-year high of $439.37. The stock has a fifty day moving average of $374.14 and a 200-day moving average of $395.67.

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Home Depot (NYSE:HD - Get Free Report) last announced its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS for the quarter, beating the consensus estimate of $3.04 by $0.09. The business had revenue of $39.70 billion during the quarter, compared to the consensus estimate 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 prior year, the business posted $2.82 earnings per share. On average, analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The firm also recently declared 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 an increase from Home Depot's previous quarterly dividend of $2.25. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.59%. Home Depot's payout ratio is currently 61.66%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on HD. Telsey Advisory Group restated an "outperform" rating and issued a $455.00 price objective on shares of Home Depot in a report on Wednesday, February 26th. Piper Sandler reduced their price target on shares of Home Depot from $435.00 to $418.00 and set an "overweight" rating on the stock in a research report on Monday, March 24th. Gordon Haskett lowered shares of Home Depot from a "buy" rating to a "hold" rating in a report on Friday, April 4th. KGI Securities upgraded Home Depot to a "strong-buy" rating in a research note on Monday, March 3rd. Finally, 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. Ten research 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 company has a consensus rating of "Moderate Buy" and a consensus 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.