Golden State Wealth Management LLC Raises Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Golden State Wealth Management LLC raised its stake in shares of The Home Depot, Inc. (NYSE:HD) by 166.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,414 shares of the home improvement retailer’s stock after acquiring an additional 8,371 shares during the quarter. Golden State Wealth Management LLC’s holdings in Home Depot were worth $4,920,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of HD. Navigoe LLC bought a new stake in Home Depot in the 4th quarter valued at about $29,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in shares of Home Depot during the fourth quarter worth $32,000. Quarry LP boosted its holdings in shares of Home Depot by 220.0% in the fourth quarter. Quarry LP now owns 96 shares of the home improvement retailer’s stock worth $37,000 after buying an additional 66 shares during the period. Sellwood Investment Partners LLC purchased a new stake in shares of Home Depot in the fourth quarter worth approximately $39,000. Finally, NewSquare Capital LLC lifted its position in Home Depot by 200.0% in the 4th quarter. NewSquare Capital LLC now owns 102 shares of the home improvement retailer’s stock worth $40,000 after buying an additional 68 shares in the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on HD shares. Wells Fargo & Company lowered their target price on shares of Home Depot from $445.00 to $420.00 and set an “overweight” rating on the stock in a research report on Thursday, May 8th. Jefferies Financial Group dropped their target price on shares of Home Depot from $461.00 to $456.00 in a research report on Tuesday, May 20th. Morgan Stanley reiterated an “overweight” rating and issued a $415.00 price objective (up previously from $410.00) on shares of Home Depot in a research report on Tuesday, May 20th. Wedbush reiterated an “outperform” rating and issued a $440.00 price target on shares of Home Depot in a research report on Wednesday, February 26th. Finally, HSBC upgraded shares of Home Depot from a “reduce” rating to a “hold” rating and boosted their price target for the company from $356.00 to $410.00 in a research report on Wednesday, February 26th. Seven investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $426.77.

Insider Buying and Selling at Home Depot

In other news, EVP Teresa Wynn Roseborough sold 5,406 shares of Home Depot stock in a transaction dated 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 sale, the executive vice president now owns 17,367 shares in the company, valued at $6,413,285.76. This trade represents a 23.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Fahim Siddiqui sold 2,600 shares of the company’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 approximately $2,919,130.14. This trade represents a 24.64% decrease in their position. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by company insiders.

Home Depot Trading Up 1.0%

Shares of HD stock opened at $360.53 on Wednesday. The stock has a market capitalization of $358.70 billion, a P/E ratio of 24.46, a P/E/G ratio of 3.39 and a beta of 1.02. The company has a current ratio of 1.09, a quick ratio of 0.28 and a debt-to-equity ratio of 5.95. The Home Depot, Inc. has a 12-month low of $326.31 and a 12-month high of $439.37. The firm’s 50 day moving average is $362.79 and its 200 day moving average is $378.77.

Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.59 by ($0.03). The firm had revenue of $39.86 billion during the quarter, compared to the consensus estimate of $39.24 billion. Home Depot had a return on equity of 242.51% and a net margin of 8.98%. The business’s revenue was up 9.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.63 EPS. Research analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Thursday, June 5th were paid a $2.30 dividend. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $9.20 annualized dividend and a yield of 2.55%. Home Depot’s dividend payout ratio (DPR) is 62.42%.

Home Depot Company Profile

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.