Beacon Investment Advisory Services Inc. Sells 688 Shares of The Home Depot, Inc. (NYSE:HD)

Beacon Investment Advisory Services Inc. lowered its position in The Home Depot, Inc. (NYSE:HD) by 0.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 78,420 shares of the home improvement retailer’s stock after selling 688 shares during the quarter. Home Depot makes up about 1.3% of Beacon Investment Advisory Services Inc.’s investment portfolio, making the stock its 26th largest holding. Beacon Investment Advisory Services Inc.’s holdings in Home Depot were worth $31,776,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of HD. Fairway Wealth LLC bought a new stake in shares of Home Depot during the 2nd quarter worth about $25,000. Kings Path Partners LLC bought a new position in Home Depot during the 2nd quarter worth $33,000. Denver PWM LLC acquired a new stake in shares of Home Depot during the second quarter worth $40,000. Livelsberger Financial Advisory bought a new stake in shares of Home Depot in the third quarter valued at about $46,000. Finally, Strategic Investment Solutions Inc. IL acquired a new position in shares of Home Depot in the second quarter valued at about $47,000. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Timothy A. Hourigan sold 16,004 shares of Home Depot stock in a transaction on Monday, November 18th. The stock was sold at an average price of $409.52, for a total transaction of $6,553,958.08. Following the sale, the executive vice president now directly owns 77,475 shares in the company, valued at $31,727,562. The trade was a 17.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Teresa Wynn Roseborough sold 22,084 shares of the stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $408.91, for a total transaction of $9,030,368.44. Following the transaction, the executive vice president now owns 20,404 shares of the company’s stock, valued at approximately $8,343,399.64. The trade was a 51.98 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 38,188 shares of company stock valued at $15,624,585 in the last 90 days. 0.10% of the stock is currently owned by corporate insiders.

Home Depot Stock Performance

Shares of HD stock opened at $429.13 on Monday. The Home Depot, Inc. has a 12 month low of $308.59 and a 12 month high of $439.37. The firm has a market capitalization of $426.28 billion, a PE ratio of 29.15, a price-to-earnings-growth ratio of 2.98 and a beta of 1.01. The firm has a fifty day simple moving average of $407.48 and a two-hundred day simple moving average of $372.20. 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 posted its earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share for the quarter, topping analysts’ consensus estimates of $3.64 by $0.14. The company had revenue of $40.22 billion for the quarter, compared to analyst estimates of $39.31 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm’s revenue was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.81 EPS. Analysts forecast that The Home Depot, Inc. will post 15.12 EPS for the current fiscal year.

Home Depot Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th will be paid a $2.25 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $9.00 annualized dividend and a yield of 2.10%. Home Depot’s dividend payout ratio (DPR) is 61.14%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on HD shares. Guggenheim boosted their price target on Home Depot from $390.00 to $450.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Stifel Nicolaus increased their target price on Home Depot from $375.00 to $400.00 and gave the stock a “hold” rating in a report on Monday, November 11th. Morgan Stanley boosted their price target on Home Depot from $380.00 to $450.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Gordon Haskett upgraded shares of Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 price objective on the stock in a research note on Wednesday, October 2nd. Finally, Wells Fargo & Company upped their price target on shares of Home Depot from $400.00 to $430.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $426.00.

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.