Platform Technology Partners Decreases Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Platform Technology Partners lowered its stake in shares of The Home Depot, Inc. (NYSE:HD – Get Rating) by 0.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,521 shares of the home improvement retailer’s stock after selling 52 shares during the period. Home Depot comprises 0.9% of Platform Technology Partners’ portfolio, making the stock its 29th largest holding. Platform Technology Partners’ holdings in Home Depot were worth $1,744,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in HD. First Personal Financial Services boosted its holdings in Home Depot by 81.1% during the third quarter. First Personal Financial Services now owns 96 shares of the home improvement retailer’s stock worth $26,000 after buying an additional 43 shares in the last quarter. Fairfield Bush & CO. purchased a new stake in shares of Home Depot in the first quarter valued at about $27,000. Grayhawk Investment Strategies Inc. purchased a new stake in shares of Home Depot in the second quarter valued at about $28,000. Align Wealth Management LLC purchased a new stake in shares of Home Depot in the fourth quarter valued at about $30,000. Finally, Glassy Mountain Advisors Inc. purchased a new stake in shares of Home Depot in the fourth quarter valued at about $30,000. Hedge funds and other institutional investors own 68.31% of the company’s stock.

Home Depot Price Performance

Shares of HD stock opened at $288.39 on Friday. The company has a market capitalization of $292.70 billion, a PE ratio of 17.29, a price-to-earnings-growth ratio of 1.61 and a beta of 0.93. The firm has a fifty day simple moving average of $310.70 and a 200-day simple moving average of $303.66. The company has a current ratio of 1.41, a quick ratio of 0.33 and a debt-to-equity ratio of 26.86. The Home Depot, Inc. has a twelve month low of $264.51 and a twelve month high of $347.25.

Home Depot (NYSE:HD – Get Rating) last announced its earnings results on Tuesday, February 21st. The home improvement retailer reported $3.30 earnings per share for the quarter, beating the consensus estimate of $3.26 by $0.04. The business had revenue of $35.83 billion during the quarter, compared to the consensus estimate of $36 billion. Home Depot had a net margin of 10.87% and a return on equity of 4,929.40%. The business’s quarterly revenue was up .3% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.21 earnings per share. Equities research analysts anticipate that The Home Depot, Inc. will post 15.85 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 23rd. Stockholders of record on Thursday, March 9th will be paid a $2.09 dividend. The ex-dividend date of this dividend is Wednesday, March 8th. This is an increase from Home Depot’s previous quarterly dividend of $1.90. This represents a $8.36 annualized dividend and a dividend yield of 2.90%. Home Depot’s dividend payout ratio is 50.12%.

Analyst Ratings Changes

HD has been the topic of several recent research reports. Piper Sandler reduced their price target on shares of Home Depot from $320.00 to $300.00 in a report on Wednesday, February 15th. Citigroup cut their price objective on shares of Home Depot from $340.00 to $332.00 and set a “buy” rating for the company in a research report on Wednesday, February 22nd. Wedbush boosted their price objective on shares of Home Depot from $280.00 to $300.00 and gave the company a “neutral” rating in a research report on Wednesday, February 22nd. Loop Capital cut their price objective on shares of Home Depot from $310.00 to $300.00 and set a “hold” rating for the company in a research report on Wednesday, February 22nd. Finally, Roth Mkm cut their price objective on shares of Home Depot from $312.00 to $292.00 and set a “neutral” rating for the company in a research report on Wednesday, February 22nd. Thirteen equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, Home Depot presently has an average rating of “Moderate Buy” and an average price target of $331.45.

Home Depot Company Profile

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The Home Depot, Inc engages in the sale of building materials and home improvement products. Its products include building materials, home improvement products, lawn and garden products and decor products. The firm operates through the following geographical segments: U.S., Canada and Mexico. It offers home improvement installation services, and tool and equipment rental.