Domani Wealth LLC Makes New $218,000 Investment in The Home Depot, Inc. (NYSE:HD)

Posted by on Apr 2nd, 2023

Domani Wealth LLC acquired a new position in shares of The Home Depot, Inc. (NYSE:HD – Get Rating) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 689 shares of the home improvement retailer’s stock, valued at approximately $218,000.

Other institutional investors also recently bought and sold shares of the company. First Personal Financial Services boosted its stake in shares of Home Depot by 81.1% in the third quarter. First Personal Financial Services now owns 96 shares of the home improvement retailer’s stock valued at $26,000 after purchasing an additional 43 shares during the period. Fairfield Bush & CO. acquired a new stake in Home Depot during the 1st quarter valued at $27,000. Align Wealth Management LLC acquired a new stake in Home Depot during the 4th quarter valued at $30,000. Glassy Mountain Advisors Inc. acquired a new stake in Home Depot during the 4th quarter valued at $30,000. Finally, Bellwether Advisors LLC grew its holdings in Home Depot by 74.0% during the 3rd quarter. Bellwether Advisors LLC now owns 127 shares of the home improvement retailer’s stock valued at $35,000 after purchasing an additional 54 shares in the last quarter. 68.31% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Credit Suisse Group lowered their price target on shares of Home Depot from $335.00 to $320.00 and set a “neutral” rating for the company in a report on Wednesday, February 22nd. Wedbush raised their price target on shares of Home Depot from $280.00 to $300.00 and gave the company a “neutral” rating in a report on Wednesday, February 22nd. DA Davidson lowered their price target on shares of Home Depot from $334.00 to $306.00 and set a “neutral” rating for the company in a report on Wednesday, February 22nd. Oppenheimer decreased their price objective on shares of Home Depot from $470.00 to $400.00 and set an “outperform” rating for the company in a report on Friday, February 17th. Finally, Telsey Advisory Group decreased their price objective on shares of Home Depot from $360.00 to $340.00 and set an “outperform” rating for the company in a report on Wednesday, February 22nd. Thirteen research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $330.61.

Home Depot Trading Up 3.4 %

Shares of NYSE:HD opened at $295.12 on Friday. The company has a market cap of $299.53 billion, a PE ratio of 17.69, a P/E/G ratio of 1.59 and a beta of 0.93. The company’s 50-day moving average price is $303.05 and its 200 day moving average price is $303.27. The Home Depot, Inc. has a fifty-two week low of $264.51 and a fifty-two week high of $347.25. The company has a quick ratio of 0.33, a current ratio of 1.41 and a debt-to-equity ratio of 26.86.

Home Depot (NYSE:HD – Get Rating) last issued its quarterly earnings data on Tuesday, February 21st. The home improvement retailer reported $3.30 earnings per share for the quarter, beating the consensus estimate of $3.26 by $0.04. The firm had revenue of $35.83 billion for the quarter, compared to the consensus estimate of $36 billion. Home Depot had a net margin of 10.87% and a return on equity of 4,929.40%. Home Depot’s quarterly revenue was up .3% compared to the same quarter last year. During the same period last year, the firm posted $3.21 EPS. Sell-side analysts anticipate that The Home Depot, Inc. will post 15.85 earnings per share for the current year.

Home Depot Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 23rd. Shareholders of record on Thursday, March 9th were given a dividend of $2.09 per share. This represents a $8.36 dividend on an annualized basis and a dividend yield of 2.83%. This is an increase from Home Depot’s previous quarterly dividend of $1.90. The ex-dividend date of this dividend was Wednesday, March 8th. Home Depot’s payout ratio is 50.12%.

Home Depot Company Profile

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The Home Depot, Inc engages in the sale of building materials and home improvement products. Its products include building materials, home improvement products, lawn and garden products and decor products. The firm operates through the following geographical segments: U.S., Canada and Mexico. It offers home improvement installation services, and tool and equipment rental.

Further Reading

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

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