Alhambra Investment Management LLC Cuts Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Alhambra Investment Management LLC reduced its position in shares of The Home Depot, Inc. (NYSE:HD) by 1.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,907 shares of the home improvement retailer’s stock after selling 79 shares during the period. Home Depot accounts for about 1.1% of Alhambra Investment Management LLC’s portfolio, making the stock its 25th largest holding. Alhambra Investment Management LLC’s holdings in Home Depot were worth $2,165,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Wealth Group Ltd. grew its position in shares of Home Depot by 5.0% in the fourth quarter. Wealth Group Ltd. now owns 563 shares of the home improvement retailer’s stock valued at $219,000 after purchasing an additional 27 shares in the last quarter. Tallon Kerry Patrick purchased a new stake in shares of Home Depot in the fourth quarter valued at approximately $281,000. Capital & Planning LLC grew its position in shares of Home Depot by 110.2% in the fourth quarter. Capital & Planning LLC now owns 1,074 shares of the home improvement retailer’s stock valued at $418,000 after purchasing an additional 563 shares in the last quarter. Ironwood Wealth Management LLC. grew its position in shares of Home Depot by 0.7% in the fourth quarter. Ironwood Wealth Management LLC. now owns 4,537 shares of the home improvement retailer’s stock valued at $1,765,000 after purchasing an additional 32 shares in the last quarter. Finally, Brighton Jones LLC grew its position in shares of Home Depot by 36.5% in the fourth quarter. Brighton Jones LLC now owns 26,918 shares of the home improvement retailer’s stock valued at $10,471,000 after purchasing an additional 7,203 shares in the last quarter. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Home Depot Stock Up 0.8%

NYSE:HD opened at $368.15 on Wednesday. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The stock’s fifty day moving average is $361.75 and its two-hundred day moving average is $383.94. The Home Depot, Inc. has a 52 week low of $326.31 and a 52 week high of $439.37. The stock has a market capitalization of $366.28 billion, a price-to-earnings ratio of 25.01, a price-to-earnings-growth ratio of 4.03 and a beta of 1.02.

Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.59 by ($0.03). The company had revenue of $39.86 billion during the quarter, compared to analyst estimates of $39.24 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm’s revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.63 earnings per share. Research analysts anticipate that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Thursday, June 5th will be issued a $2.30 dividend. This represents a $9.20 annualized dividend and a yield of 2.50%. The ex-dividend date is Thursday, June 5th. Home Depot’s dividend payout ratio (DPR) is presently 62.42%.

Wall Street Analysts Forecast Growth

HD has been the subject of a number of analyst reports. Telsey Advisory Group restated an “outperform” rating on shares of Home Depot in a research report on Monday, June 2nd. DA Davidson lowered their price objective on Home Depot from $470.00 to $450.00 in a research report on Tuesday, May 20th. KGI Securities upgraded Home Depot to a “strong-buy” rating in a research report on Monday, March 3rd. Robert W. Baird lowered their price objective on Home Depot from $430.00 to $425.00 and set an “outperform” rating for the company in a research report on Wednesday, May 21st. Finally, Royal Bank of Canada lowered their price objective on Home Depot from $424.00 to $399.00 and set a “sector perform” rating for the company in a research report on Thursday, May 15th. Seven investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $426.77.

Insider Activity at Home Depot

In related news, EVP Fahim Siddiqui sold 2,600 shares of the firm’s stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $367.14, for a total transaction of $954,564.00. Following the transaction, the executive vice president now owns 7,951 shares of the company’s stock, valued at $2,919,130.14. This trade represents a 24.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the firm’s stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $369.28, for a total value of $1,996,327.68. Following the transaction, the executive vice president now directly owns 17,367 shares in the company, valued at approximately $6,413,285.76. This represents a 23.74% decrease in their position. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by corporate insiders.

About Home Depot

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.