Align Wealth Management LLC bought a new position in The Home Depot, Inc. (NYSE:HD – Get Rating) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 110 shares of the home improvement retailer’s stock, valued at approximately $30,000.
A number of other large investors also recently added to or reduced their stakes in HD. Vanguard Group Inc. increased its position in shares of Home Depot by 1.1% in the third quarter. Vanguard Group Inc. now owns 94,440,614 shares of the home improvement retailer’s stock valued at $26,059,943,000 after acquiring an additional 1,011,858 shares during the period. State Street Corp increased its position in shares of Home Depot by 0.6% in the second quarter. State Street Corp now owns 45,908,300 shares of the home improvement retailer’s stock valued at $12,591,269,000 after acquiring an additional 286,186 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Home Depot by 14.5% in 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 period. Alliancebernstein L.P. increased its position in shares of Home Depot by 9.1% in the third quarter. Alliancebernstein L.P. now owns 9,722,967 shares of the home improvement retailer’s stock valued at $2,682,956,000 after acquiring an additional 812,278 shares during the period. Finally, Legal & General Group Plc increased its position in shares of Home Depot by 1.2% in the second quarter. Legal & General Group Plc now owns 7,535,534 shares of the home improvement retailer’s stock valued at $2,066,777,000 after acquiring an additional 86,345 shares during the period. Hedge funds and other institutional investors own 68.31% of the company’s stock.
Wall Street Analysts Forecast Growth
HD has been the topic of a number of analyst reports. Evercore ISI decreased their price objective on shares of Home Depot from $370.00 to $340.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 22nd. Cowen cut their price objective on Home Depot from $379.00 to $360.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 22nd. Barclays decreased their target price on Home Depot from $323.00 to $310.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 22nd. Piper Sandler reduced their price target on Home Depot from $320.00 to $300.00 in a research note on Wednesday, February 15th. Finally, Sanford C. Bernstein started coverage on Home Depot in a research report on Tuesday, December 6th. They set a “market perform” rating and a $337.00 price objective for the company. Thirteen investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $331.45.
Home Depot Trading Up 0.6 %
Home Depot (NYSE:HD – Get Rating) last announced its quarterly 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. Home Depot had a net margin of 10.87% and a return on equity of 4,929.40%. The firm had revenue of $35.83 billion for the quarter, compared to the consensus estimate of $36 billion. During the same quarter last year, the firm posted $3.21 EPS. The business’s quarterly revenue was up .3% compared to the same quarter last year. On average, sell-side analysts predict that The Home Depot, Inc. will post 15.85 EPS for the current year.
Home Depot Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 23rd. Shareholders of record on Thursday, March 9th will be given a $2.09 dividend. This represents a $8.36 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date of this dividend is Wednesday, March 8th. This is an increase from Home Depot’s previous quarterly dividend of $1.90. Home Depot’s payout ratio is 50.12%.
Home Depot Profile
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.
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