Noble Wealth Management PBC Makes New $193,000 Investment in The Home Depot, Inc. (NYSE:HD)

Noble Wealth Management PBC purchased a new stake in The Home Depot, Inc. (NYSE:HD) in the fourth quarter, HoldingsChannel reports. The firm purchased 497 shares of the home improvement retailer’s stock, valued at approximately $193,000.

Several other institutional investors have also made changes to their positions in the stock. POM Investment Strategies LLC grew its stake in shares of Home Depot by 1.1% in the 4th quarter. POM Investment Strategies LLC now owns 2,117 shares of the home improvement retailer’s stock worth $824,000 after buying an additional 24 shares during the last quarter. Center for Financial Planning Inc. boosted its holdings in Home Depot by 0.5% in the fourth quarter. Center for Financial Planning Inc. now owns 4,653 shares of the home improvement retailer’s stock worth $1,810,000 after acquiring an additional 24 shares in the last quarter. Insight Inv LLC grew its stake in shares of Home Depot by 2.0% in the third quarter. Insight Inv LLC now owns 1,246 shares of the home improvement retailer’s stock worth $505,000 after acquiring an additional 25 shares during the last quarter. Marino Stram & Associates LLC increased its holdings in shares of Home Depot by 2.3% during the fourth quarter. Marino Stram & Associates LLC now owns 1,108 shares of the home improvement retailer’s stock valued at $431,000 after acquiring an additional 25 shares in the last quarter. Finally, Live Oak Private Wealth LLC raised its position in shares of Home Depot by 0.5% in the 4th quarter. Live Oak Private Wealth LLC now owns 4,915 shares of the home improvement retailer’s stock worth $1,912,000 after purchasing an additional 25 shares during the last quarter. 70.86% of the stock is currently owned by institutional investors.

Home Depot Trading Up 1.6 %

Home Depot stock opened at $396.69 on Friday. 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 Home Depot, Inc. has a 12-month low of $323.77 and a 12-month high of $439.37. The firm has a market capitalization of $394.06 billion, a price-to-earnings ratio of 26.95, a P/E/G ratio of 4.03 and a beta of 1.05. The firm has a 50 day moving average of $401.36 and a 200 day moving average of $399.06.

Home Depot (NYSE:HD) last announced its quarterly earnings data 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 firm had revenue of $39.70 billion for the quarter, compared to the consensus estimate of $39.15 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The company’s revenue was up 14.1% on a year-over-year basis. During the same period last year, the firm earned $2.82 EPS. As a group, research analysts predict that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be given a $2.30 dividend. This represents a $9.20 annualized dividend and a dividend yield of 2.32%. This is an increase from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date of this dividend is Thursday, March 13th. Home Depot’s payout ratio is presently 61.66%.

Analysts Set New Price Targets

Several analysts recently commented on HD shares. HSBC raised shares of Home Depot from a “reduce” rating to a “hold” rating and increased their price objective for the company from $356.00 to $410.00 in a research report on Wednesday. Guggenheim reiterated a “buy” rating and set a $450.00 price target on shares of Home Depot in a report on Wednesday. Evercore ISI boosted their price objective on shares of Home Depot from $420.00 to $430.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Wedbush reaffirmed an “outperform” rating and issued a $440.00 price objective on shares of Home Depot in a research report on Wednesday. Finally, Mizuho lifted their target price on Home Depot from $435.00 to $440.00 and gave the stock an “outperform” rating in a report on Wednesday, November 13th. Nine research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $436.50.

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.