Pinnacle Wealth Management Group Inc. Sells 150 Shares of The Home Depot, Inc. (NYSE:HD)

Pinnacle Wealth Management Group Inc. lowered its holdings in The Home Depot, Inc. (NYSE:HD) by 16.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 751 shares of the home improvement retailer’s stock after selling 150 shares during the period. Pinnacle Wealth Management Group Inc.’s holdings in Home Depot were worth $292,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in HD. BCS Wealth Management purchased a new position in Home Depot during the 4th quarter valued at about $771,000. AdvisorNet Financial Inc grew its stake in shares of Home Depot by 35.9% during the 4th quarter. AdvisorNet Financial Inc now owns 5,392 shares of the home improvement retailer’s stock valued at $2,097,000 after acquiring an additional 1,424 shares during the period. Granite Bay Wealth Management LLC purchased a new position in shares of Home Depot during the 4th quarter valued at $5,417,000. First Financial Corp IN grew its position in shares of Home Depot by 3.3% during the fourth quarter. First Financial Corp IN now owns 4,150 shares of the home improvement retailer’s stock worth $1,614,000 after purchasing an additional 134 shares in the last quarter. Finally, PFW Advisors LLC purchased a new stake in Home Depot during the 4th quarter valued at approximately $3,133,000. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on HD. Melius Research began coverage on shares of Home Depot in a research report on Monday, September 23rd. They set a “buy” rating and a $420.00 price objective for the company. Barclays lifted their price objective on shares of Home Depot from $372.00 to $420.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Sanford C. Bernstein started coverage on shares of Home Depot in a report on Tuesday, October 22nd. They issued a “market perform” rating and a $451.00 price target on the stock. 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. Finally, Royal Bank of Canada raised their price objective on shares of Home Depot from $363.00 to $413.00 and gave the stock a “sector perform” rating in a research note on Monday, November 11th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $426.00.

Insider Activity at Home Depot

In other news, EVP Teresa Wynn Roseborough sold 22,084 shares of the company’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $408.91, for a total transaction of $9,030,368.44. Following the completion of the sale, the executive vice president now directly owns 20,404 shares in the company, valued at approximately $8,343,399.64. This represents a 51.98 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Ann Marie Campbell sold 100 shares of Home Depot stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $402.58, for a total value of $40,258.00. Following the completion of the transaction, the executive vice president now owns 12,465 shares in the company, valued at approximately $5,018,159.70. The trade was a 0.80 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 38,188 shares of company stock valued at $15,624,585. Insiders own 0.10% of the company’s stock.

Home Depot Price Performance

Shares of HD stock opened at $389.65 on Tuesday. The company has a market capitalization of $387.06 billion, a P/E ratio of 26.47, a P/E/G ratio of 2.90 and a beta of 1.05. The stock has a 50 day moving average of $406.03 and a two-hundred day moving average of $386.31. The Home Depot, Inc. has a 12 month low of $323.77 and a 12 month high of $439.37. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.64 by $0.14. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The business had revenue of $40.22 billion during the quarter, compared to analysts’ expectations of $39.31 billion. During the same period in the previous year, the business posted $3.81 earnings per share. The firm’s revenue for the quarter was up 6.6% compared to the same quarter last year. As a group, equities analysts expect that The Home Depot, Inc. will post 15.12 EPS for the current year.

Home Depot Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th were given a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date of this dividend was Wednesday, November 27th. Home Depot’s dividend payout ratio is presently 61.14%.

About Home Depot

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.