Ipswich Investment Management Co. Inc. Decreases Holdings in The Home Depot, Inc. (NYSE:HD)

Ipswich Investment Management Co. Inc. trimmed its position in The Home Depot, Inc. (NYSE:HD) by 1.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,143 shares of the home improvement retailer’s stock after selling 50 shares during the period. Ipswich Investment Management Co. Inc.’s holdings in Home Depot were worth $1,679,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in HD. Fairway Wealth LLC acquired a new stake in Home Depot in the 2nd quarter worth approximately $25,000. Kings Path Partners LLC acquired a new position in shares of Home Depot in the second quarter worth about $33,000. Livelsberger Financial Advisory purchased a new stake in shares of Home Depot during the 3rd quarter worth about $46,000. Denver PWM LLC acquired a new stake in shares of Home Depot during the 2nd quarter valued at about $40,000. Finally, Abich Financial Wealth Management LLC increased its stake in shares of Home Depot by 68.0% in the 1st quarter. Abich Financial Wealth Management LLC now owns 126 shares of the home improvement retailer’s stock valued at $48,000 after purchasing an additional 51 shares in the last quarter. 70.86% of the stock is owned by institutional investors and hedge funds.

Home Depot Stock Performance

NYSE:HD opened at $408.25 on Friday. The Home Depot, Inc. has a 52 week low of $302.34 and a 52 week high of $421.56. The company has a fifty day simple moving average of $399.51 and a two-hundred day simple moving average of $366.34. The company has a quick ratio of 0.33, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The company has a market cap of $405.51 billion, a price-to-earnings ratio of 27.73, a price-to-earnings-growth ratio of 2.83 and a beta of 1.01.

Home Depot (NYSE:HD) last posted 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 company had revenue of $40.22 billion for the quarter, compared to analyst estimates of $39.31 billion. During the same quarter last year, the company earned $3.81 EPS. Home Depot’s revenue for the quarter was up 6.6% compared to the same quarter last year. As a group, equities analysts anticipate that The Home Depot, Inc. will post 15.06 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Wednesday, November 27th will be issued a $2.25 dividend. This represents a $9.00 annualized dividend and a yield of 2.20%. The ex-dividend date of this dividend is Wednesday, November 27th. Home Depot’s dividend payout ratio (DPR) is presently 61.14%.

Insiders Place Their Bets

In other news, EVP Teresa Wynn Roseborough sold 22,084 shares of the company’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $408.91, for a total value of $9,030,368.44. Following the completion of the transaction, the executive vice president now owns 20,404 shares in the company, valued at approximately $8,343,399.64. This represents a 51.98 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

HD has been the topic of a number of recent analyst reports. Truist Financial increased their price target on Home Depot from $459.00 to $465.00 and gave the stock a “buy” rating in a research report on Wednesday. Gordon Haskett upgraded Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 target price on the stock in a research report on Wednesday, October 2nd. Piper Sandler lifted their price target on shares of Home Depot from $387.00 to $455.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Stifel Nicolaus upped their price objective on shares of Home Depot from $375.00 to $400.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Finally, Wells Fargo & Company increased their price objective on shares of Home Depot from $400.00 to $430.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have issued a buy rating to the stock. According to data from MarketBeat.com, Home Depot has a consensus rating of “Moderate Buy” and an average price target 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.