Pinnacle Holdings LLC Sells 177 Shares of Home Depot Inc (NYSE:HD)

Pinnacle Holdings LLC lowered its stake in Home Depot Inc (NYSE:HD) by 0.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 19,582 shares of the home improvement retailer’s stock after selling 177 shares during the period. Home Depot makes up 1.5% of Pinnacle Holdings LLC’s holdings, making the stock its 12th biggest holding. Pinnacle Holdings LLC’s holdings in Home Depot were worth $4,072,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Lindbrook Capital LLC boosted its stake in shares of Home Depot by 1.6% during the second quarter. Lindbrook Capital LLC now owns 3,056 shares of the home improvement retailer’s stock valued at $635,000 after purchasing an additional 49 shares in the last quarter. First Command Financial Services Inc. boosted its stake in shares of Home Depot by 0.9% during the second quarter. First Command Financial Services Inc. now owns 5,608 shares of the home improvement retailer’s stock valued at $1,167,000 after purchasing an additional 50 shares in the last quarter. Canton Hathaway LLC boosted its stake in shares of Home Depot by 4.3% during the second quarter. Canton Hathaway LLC now owns 1,202 shares of the home improvement retailer’s stock valued at $250,000 after purchasing an additional 50 shares in the last quarter. Mercer Capital Advisers Inc. boosted its stake in shares of Home Depot by 1.9% during the second quarter. Mercer Capital Advisers Inc. now owns 2,730 shares of the home improvement retailer’s stock valued at $568,000 after purchasing an additional 50 shares in the last quarter. Finally, Benin Management CORP boosted its stake in shares of Home Depot by 2.0% during the second quarter. Benin Management CORP now owns 2,591 shares of the home improvement retailer’s stock valued at $539,000 after purchasing an additional 50 shares in the last quarter. Institutional investors own 70.12% of the company’s stock.

HD has been the topic of a number of recent research reports. Morgan Stanley lifted their price target on Home Depot from $210.00 to $225.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Robert W. Baird lifted their price target on Home Depot from $220.00 to $230.00 and gave the company an “outperform” rating in a research note on Wednesday, August 21st. Stifel Nicolaus lifted their price objective on Home Depot to $230.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. KeyCorp reaffirmed a “hold” rating on shares of Home Depot in a research note on Wednesday, August 21st. Finally, Zacks Investment Research raised Home Depot from a “sell” rating to a “hold” rating in a research note on Thursday, May 23rd. Ten analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Home Depot has a consensus rating of “Buy” and an average target price of $221.39.

Shares of Home Depot stock traded down $0.35 during midday trading on Friday, reaching $233.45. The company had a trading volume of 289,003 shares, compared to its average volume of 4,578,911. The firm has a market cap of $255.17 billion, a PE ratio of 23.62, a P/E/G ratio of 2.16 and a beta of 1.05. The stock has a fifty day moving average price of $217.12 and a 200 day moving average price of $203.15. Home Depot Inc has a fifty-two week low of $158.09 and a fifty-two week high of $235.49.

Home Depot (NYSE:HD) last issued its earnings results on Tuesday, August 20th. The home improvement retailer reported $3.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.07 by $0.10. The business had revenue of $30.84 billion during the quarter, compared to the consensus estimate of $30.98 billion. Home Depot had a negative return on equity of 1,179.69% and a net margin of 10.18%. The firm’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same period in the previous year, the company posted $3.05 earnings per share. Research analysts forecast that Home Depot Inc will post 10.11 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 19th. Shareholders of record on Thursday, September 5th will be issued a $1.36 dividend. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $5.44 dividend on an annualized basis and a yield of 2.33%. Home Depot’s payout ratio is currently 55.01%.

In other Home Depot news, EVP Edward P. Decker sold 22,908 shares of Home Depot stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $227.15, for a total value of $5,203,552.20. Following the completion of the sale, the executive vice president now directly owns 87,343 shares in the company, valued at $19,839,962.45. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP William G. Lennie sold 9,200 shares of Home Depot stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $220.05, for a total value of $2,024,460.00. Following the completion of the sale, the executive vice president now owns 84,123 shares of the company’s stock, valued at $18,511,266.15. The disclosure for this sale can be found here. Over the last quarter, insiders sold 177,508 shares of company stock valued at $39,076,428. 0.27% of the stock is currently owned by corporate insiders.

Home Depot Profile

The Home Depot, Inc operates as a home improvement retailer. It operates The Home Depot stores that sell various building materials, home improvement products, lawn and garden products, and décor products, as well as provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.

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Institutional Ownership by Quarter for Home Depot (NYSE:HD)

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