The Home Depot, Inc. (NYSE:HD) Shares Bought by Motive Wealth Advisors

Posted by Defense World Staff on Apr 11th, 2023

Motive Wealth Advisors lifted its position in shares of The Home Depot, Inc. (NYSE:HD – Get Rating) by 5.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 814 shares of the home improvement retailer’s stock after acquiring an additional 45 shares during the period. Motive Wealth Advisors’ holdings in Home Depot were worth $257,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Fairfield Bush & CO. bought a new stake in shares of Home Depot during the first quarter valued at about $27,000. Glassy Mountain Advisors Inc. bought a new stake in Home Depot during the fourth quarter worth approximately $30,000. First Personal Financial Services lifted its position in Home Depot by 81.1% in the third quarter. First Personal Financial Services now owns 96 shares of the home improvement retailer’s stock worth $26,000 after purchasing an additional 43 shares during the period. Align Wealth Management LLC bought a new position in Home Depot during the 4th quarter valued at $30,000. Finally, EWG Elevate Inc. acquired a new position in shares of Home Depot during the 4th quarter valued at $36,000. 68.31% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Oppenheimer lowered their price objective on shares of Home Depot from $470.00 to $400.00 and set an “outperform” rating on the stock in a research note on Friday, February 17th. Credit Suisse Group dropped their price objective on shares of Home Depot from $335.00 to $320.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 22nd. Truist Financial decreased their target price on shares of Home Depot from $382.00 to $352.00 in a research report on Wednesday, February 22nd. Bank of America lowered their price target on Home Depot from $360.00 to $346.00 in a report on Wednesday, February 22nd. Finally, Roth Mkm dropped their target price on shares of Home Depot from $312.00 to $292.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 22nd. Thirteen research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $329.89.

Home Depot Trading Up 0.9 %

Shares of HD stock opened at $291.17 on Tuesday. The company has a market capitalization of $294.86 billion, a P/E ratio of 17.46, a P/E/G ratio of 1.67 and a beta of 0.93. The Home Depot, Inc. has a 12-month low of $264.51 and a 12-month 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. The firm has a 50-day moving average price of $300.14 and a 200 day moving average price of $304.21.

Home Depot (NYSE:HD – Get Rating) last posted its earnings results on Tuesday, February 21st. The home improvement retailer reported $3.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.26 by $0.04. The company had revenue of $35.83 billion during the quarter, compared to analysts’ expectations 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 quarter in the previous year, the company posted $3.21 earnings per share. Research analysts forecast that The Home Depot, Inc. will post 15.85 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 23rd. Stockholders of record on Thursday, March 9th were issued a dividend of $2.09 per share. This represents a $8.36 annualized dividend and a dividend yield of 2.87%. The ex-dividend date of this dividend was Wednesday, March 8th. This is a boost from Home Depot’s previous quarterly dividend of $1.90. Home Depot’s dividend payout ratio is presently 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.