Wealth Alliance Raises Position in The Home Depot, Inc. (NYSE:HD)

Wealth Alliance raised its stake in The Home Depot, Inc. (NYSE:HD) by 1.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,314 shares of the home improvement retailer’s stock after purchasing an additional 98 shares during the quarter. Wealth Alliance’s holdings in Home Depot were worth $2,188,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of HD. Morgan Stanley increased its position in shares of Home Depot by 10.0% during the fourth quarter. Morgan Stanley now owns 18,737,490 shares of the home improvement retailer’s stock valued at $5,918,425,000 after acquiring an additional 1,698,402 shares during the last quarter. Northern Trust Corp increased its position in shares of Home Depot by 1.3% during the third quarter. Northern Trust Corp now owns 12,347,396 shares of the home improvement retailer’s stock valued at $3,730,889,000 after acquiring an additional 153,141 shares during the last quarter. Norges Bank purchased a new stake in shares of Home Depot during the fourth quarter valued at approximately $3,740,875,000. Moneta Group Investment Advisors LLC increased its position in shares of Home Depot by 105,205.6% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 10,994,957 shares of the home improvement retailer’s stock valued at $3,472,867,000 after acquiring an additional 10,984,516 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Home Depot by 14.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 10,729,735 shares of the home improvement retailer’s stock valued at $3,211,731,000 after acquiring an additional 1,361,660 shares during the last quarter. 70.86% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

HD has been the subject of a number of research analyst reports. Stifel Nicolaus increased their price target on Home Depot from $355.00 to $366.00 and gave the company a “hold” rating in a research report on Friday, February 16th. Bank of America increased their price target on Home Depot from $400.00 to $425.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. HSBC reissued a “reduce” rating and issued a $323.00 price target on shares of Home Depot in a report on Wednesday, April 3rd. Barclays raised shares of Home Depot from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $325.00 to $372.00 in a report on Thursday, January 4th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $417.00 price target on shares of Home Depot in a report on Wednesday. One analyst has rated the stock with a sell rating, eight have given a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $375.96.

Home Depot Stock Performance

NYSE HD opened at $332.83 on Thursday. The company has a quick ratio of 0.40, a current ratio of 1.35 and a debt-to-equity ratio of 40.94. The company has a 50-day simple moving average of $368.54 and a two-hundred day simple moving average of $339.01. The firm has a market cap of $329.84 billion, a price-to-earnings ratio of 22.04, a PEG ratio of 2.23 and a beta of 0.98. The Home Depot, Inc. has a 12-month low of $274.26 and a 12-month high of $396.87.

Home Depot (NYSE:HD) last posted its earnings results on Tuesday, February 20th. The home improvement retailer reported $2.82 earnings per share for the quarter, topping analysts’ consensus estimates of $2.77 by $0.05. The company had revenue of $34.79 billion during the quarter, compared to analyst estimates of $34.64 billion. Home Depot had a net margin of 9.92% and a return on equity of 1,452.22%. Home Depot’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same period in the prior year, the business posted $3.30 earnings per share. On average, equities analysts forecast that The Home Depot, Inc. will post 15.37 EPS for the current year.

Home Depot Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Thursday, March 7th were paid a $2.25 dividend. This is an increase from Home Depot’s previous quarterly dividend of $2.09. This represents a $9.00 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date of this dividend was Wednesday, March 6th. Home Depot’s dividend payout ratio is presently 59.60%.

Insider Buying and Selling

In related news, CEO Edward P. Decker sold 35,987 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $368.63, for a total value of $13,265,887.81. Following the completion of the transaction, the chief executive officer now directly owns 107,731 shares of the company’s stock, valued at $39,712,878.53. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Home Depot news, CEO Edward P. Decker sold 35,987 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $368.63, for a total transaction of $13,265,887.81. Following the completion of the transaction, the chief executive officer now owns 107,731 shares of the company’s stock, valued at $39,712,878.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Timothy A. Hourigan sold 8,996 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $368.74, for a total transaction of $3,317,185.04. Following the transaction, the executive vice president now directly owns 75,799 shares of the company’s stock, valued at approximately $27,950,123.26. The disclosure for this sale can be found here. 0.10% of the stock is owned by insiders.

Home Depot Company 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.