Paulson Wealth Management Inc. Reduces Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Paulson Wealth Management Inc. cut its position in shares of The Home Depot, Inc. (NYSE:HD) by 14.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,647 shares of the home improvement retailer’s stock after selling 601 shares during the period. Paulson Wealth Management Inc.’s holdings in Home Depot were worth $1,478,000 at the end of the most recent quarter.

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

Home Depot Price Performance

NYSE HD opened at $403.17 on Wednesday. The stock has a market capitalization of $400.46 billion, a PE ratio of 27.13, a P/E/G ratio of 2.83 and a beta of 1.01. The stock has a 50-day simple moving average of $395.99 and a 200 day simple moving average of $364.77. The company has a debt-to-equity ratio of 11.74, a quick ratio of 0.33 and a current ratio of 1.15. The Home Depot, Inc. has a twelve month low of $287.24 and a twelve month high of $421.56.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $42.57 billion. During the same quarter in the previous year, the firm posted $4.65 earnings per share. Home Depot’s revenue was up .6% compared to the same quarter last year. Research analysts anticipate that The Home Depot, Inc. will post 14.99 EPS for the current year.

Home Depot Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Thursday, August 29th were given a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date of this dividend was Thursday, August 29th. Home Depot’s dividend payout ratio (DPR) is presently 60.57%.

Wall Street Analyst Weigh In

HD has been the subject of a number of recent research reports. Jefferies Financial Group assumed coverage on Home Depot in a research report on Tuesday, July 16th. They set a “buy” rating and a $426.00 price objective for the company. Piper Sandler upped their target price on Home Depot from $387.00 to $455.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Wells Fargo & Company lifted their price target on Home Depot from $400.00 to $430.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 6th. Morgan Stanley lifted their price target on Home Depot from $380.00 to $450.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Finally, Barclays increased their price objective on Home Depot from $372.00 to $420.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus 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.