Platform Technology Partners Sells 28 Shares of The Home Depot, Inc. (NYSE:HD)

Platform Technology Partners decreased its position in shares of The Home Depot, Inc. (NYSE:HD) by 0.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 8,741 shares of the home improvement retailer’s stock after selling 28 shares during the quarter. Home Depot makes up 1.1% of Platform Technology Partners’ investment portfolio, making the stock its 17th largest position. Platform Technology Partners’ holdings in Home Depot were worth $3,542,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Abacus Wealth Partners LLC increased its stake in shares of Home Depot by 3.7% in the 3rd quarter. Abacus Wealth Partners LLC now owns 704 shares of the home improvement retailer’s stock worth $285,000 after purchasing an additional 25 shares in the last quarter. Redhawk Wealth Advisors Inc. increased its position in Home Depot by 0.7% in the third quarter. Redhawk Wealth Advisors Inc. now owns 3,624 shares of the home improvement retailer’s stock worth $1,469,000 after buying an additional 25 shares in the last quarter. Ruedi Wealth Management Inc. raised its stake in shares of Home Depot by 1.2% in the second quarter. Ruedi Wealth Management Inc. now owns 2,372 shares of the home improvement retailer’s stock worth $817,000 after buying an additional 27 shares during the period. Acorn Creek Capital LLC lifted its position in shares of Home Depot by 3.4% during the 2nd quarter. Acorn Creek Capital LLC now owns 845 shares of the home improvement retailer’s stock valued at $291,000 after buying an additional 28 shares in the last quarter. Finally, Consolidated Portfolio Review Corp grew its stake in shares of Home Depot by 1.9% during the 3rd quarter. Consolidated Portfolio Review Corp now owns 1,524 shares of the home improvement retailer’s stock valued at $617,000 after acquiring an additional 28 shares during the period. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Stock Performance

NYSE HD opened at $408.29 on Tuesday. The business’s 50 day moving average price is $395.99 and its 200-day moving average price is $364.77. The Home Depot, Inc. has a fifty-two week low of $287.24 and a fifty-two week high of $421.56. The company has a market cap of $405.55 billion, a P/E ratio of 27.48, a P/E/G ratio of 2.81 and a beta of 1.01. The company has a debt-to-equity ratio of 11.74, a quick ratio of 0.33 and a current ratio of 1.15.

Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share for the quarter, beating analysts’ consensus estimates of $4.59 by $0.08. Home Depot had a net margin of 9.71% and a return on equity of 733.61%. The business had revenue of $43.18 billion for the quarter, compared to analysts’ expectations of $42.57 billion. During the same quarter in the previous year, the business posted $4.65 earnings per share. The business’s revenue was up .6% compared to the same quarter last year. Sell-side analysts predict that The Home Depot, Inc. will post 15.01 earnings per share for the current year.

Home Depot Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Thursday, August 29th were issued a dividend of $2.25 per share. The ex-dividend date was Thursday, August 29th. This represents a $9.00 annualized dividend and a yield of 2.20%. Home Depot’s payout ratio is 60.57%.

Analyst Ratings Changes

A number of equities research analysts have commented on HD shares. Truist Financial raised their target price on shares of Home Depot from $455.00 to $459.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Jefferies Financial Group assumed coverage on shares of Home Depot in a report on Tuesday, July 16th. They issued a “buy” rating and a $426.00 target price for the company. Royal Bank of Canada increased their price target on Home Depot from $363.00 to $413.00 and gave the stock a “sector perform” rating in a research note on Monday. TD Cowen boosted their price objective on Home Depot from $440.00 to $460.00 and gave the company a “buy” rating in a research report on Monday, October 28th. Finally, DA Davidson increased their target price on Home Depot from $430.00 to $466.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $422.81.

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.