Alpha Omega Wealth Management LLC Has $2.49 Million Position in The Home Depot, Inc. (NYSE:HD)

Alpha Omega Wealth Management LLC increased its position in shares of The Home Depot, Inc. (NYSE:HD) by 2.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,782 shares of the home improvement retailer’s stock after purchasing an additional 187 shares during the period. Alpha Omega Wealth Management LLC’s holdings in Home Depot were worth $2,486,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in HD. Norges Bank acquired a new position in Home Depot in the 4th quarter worth about $5,032,910,000. GAMMA Investing LLC increased its holdings in Home Depot by 39,194.1% in the 1st quarter. GAMMA Investing LLC now owns 10,236,903 shares of the home improvement retailer’s stock worth $37,517,230,000 after purchasing an additional 10,210,851 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Home Depot in the 4th quarter worth about $2,212,546,000. Proficio Capital Partners LLC increased its holdings in Home Depot by 21,394.9% in the 4th quarter. Proficio Capital Partners LLC now owns 2,039,862 shares of the home improvement retailer’s stock worth $793,486,000 after purchasing an additional 2,030,372 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in Home Depot by 13.3% in the 4th quarter. Northern Trust Corp now owns 12,149,890 shares of the home improvement retailer’s stock worth $4,726,186,000 after purchasing an additional 1,424,857 shares in the last quarter. 70.86% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Home Depot

In other Home Depot news, EVP Fahim Siddiqui sold 2,600 shares of the stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $367.14, for a total transaction of $954,564.00. Following the completion of the transaction, the executive vice president now directly owns 7,951 shares of the company’s stock, valued at approximately $2,919,130.14. This represents a 24.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the stock in a transaction on Wednesday, May 28th. The shares were 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 of the company’s stock, valued at approximately $6,413,285.76. This trade represents a 23.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on HD. Piper Sandler lowered their target price on Home Depot from $435.00 to $418.00 and set an “overweight” rating for the company in a report on Monday, March 24th. JPMorgan Chase & Co. upped their price target on Home Depot from $410.00 to $418.00 and gave the company an “overweight” rating in a research report on Wednesday, May 21st. Wells Fargo & Company reduced their price target on Home Depot from $445.00 to $420.00 and set an “overweight” rating on the stock in a research report on Thursday, May 8th. HSBC upgraded Home Depot from a “reduce” rating to a “hold” rating and upped their price target for the company from $356.00 to $410.00 in a research report on Wednesday, February 26th. Finally, Gordon Haskett upped their price target on Home Depot from $350.00 to $360.00 in a research report on Tuesday, May 20th. Seven equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $426.77.

Home Depot Stock Performance

Shares of Home Depot stock opened at $360.35 on Thursday. The company has a market cap of $358.52 billion, a PE ratio of 24.48, a price-to-earnings-growth ratio of 4.03 and a beta of 1.02. The Home Depot, Inc. has a 52 week low of $326.31 and a 52 week high of $439.37. The business has a 50 day moving average price of $361.89 and a 200-day moving average price of $383.78. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, May 20th. The home improvement retailer reported $3.56 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 analysts’ expectations of $39.24 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period last year, the company earned $3.63 earnings per share. Equities analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Thursday, June 5th will be given a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date of this dividend is Thursday, June 5th. Home Depot’s payout ratio is 62.42%.

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.