Aries Wealth Management Trims Stake in The Home Depot, Inc. (NYSE:HD)

Aries Wealth Management cut its position in The Home Depot, Inc. (NYSE:HD) by 2.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,846 shares of the home improvement retailer’s stock after selling 307 shares during the quarter. Home Depot makes up 1.6% of Aries Wealth Management’s investment portfolio, making the stock its 11th biggest holding. Aries Wealth Management’s holdings in Home Depot were worth $5,775,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Synergy Asset Management LLC acquired a new position in Home Depot in the fourth quarter valued at $26,000. Wingate Wealth Advisors Inc. purchased a new position in shares of Home Depot during the fourth quarter worth about $28,000. Legacy Investment Solutions LLC acquired a new position in Home Depot in the 3rd quarter valued at about $41,000. Sugar Maple Asset Management LLC purchased a new stake in Home Depot during the 4th quarter valued at approximately $41,000. Finally, Livelsberger Financial Advisory acquired a new stake in Home Depot during the 3rd quarter worth approximately $46,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Insider Activity

In other news, EVP Ann Marie Campbell sold 100 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $402.58, for a total transaction of $40,258.00. Following the completion of the sale, the executive vice president now owns 12,465 shares of the company’s stock, valued at approximately $5,018,159.70. This trade represents a 0.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Timothy A. Hourigan sold 16,004 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $409.52, for a total value of $6,553,958.08. Following the completion of the sale, the executive vice president now directly owns 77,475 shares of the company’s stock, valued at approximately $31,727,562. This represents a 17.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.10% of the company’s stock.

Wall Street Analysts Forecast Growth

HD has been the topic of a number of recent research reports. TD Cowen boosted their target price on Home Depot from $440.00 to $460.00 and gave the company a “buy” rating in a report on Monday, October 28th. Sanford C. Bernstein assumed coverage on shares of Home Depot in a research note on Tuesday, October 22nd. They issued a “market perform” rating and a $451.00 price objective on the stock. DA Davidson lifted their target price on shares of Home Depot from $430.00 to $466.00 and gave the company a “buy” rating in a report on Friday, October 25th. Evercore ISI boosted their price target on shares of Home Depot from $420.00 to $430.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Finally, Truist Financial raised their price objective on shares of Home Depot from $465.00 to $467.00 and gave the company a “buy” rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Home Depot has an average rating of “Moderate Buy” and an average price target of $431.00.

Home Depot Stock Performance

Home Depot stock opened at $412.64 on Friday. The Home Depot, Inc. has a fifty-two week low of $323.77 and a fifty-two week high of $439.37. The company has a market capitalization of $409.90 billion, a price-to-earnings ratio of 28.03, a PEG ratio of 4.22 and a beta of 1.05. The stock has a fifty day moving average of $405.21 and a two-hundred day moving average of $395.46. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13.

Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, November 12th. The home improvement retailer reported $3.78 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $39.31 billion. During the same period in the previous year, the company posted $3.81 EPS. The company’s revenue was up 6.6% compared to the same quarter last year. On average, analysts anticipate that The Home Depot, Inc. will post 15.12 EPS for the current fiscal year.

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.