Global Wealth Management Investment Advisory Inc. Boosts Stake in The Home Depot, Inc. (NYSE:HD)

Global Wealth Management Investment Advisory Inc. grew its stake in shares of The Home Depot, Inc. (NYSE:HD) by 2.6% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 12,711 shares of the home improvement retailer’s stock after acquiring an additional 325 shares during the period. Global Wealth Management Investment Advisory Inc.’s holdings in Home Depot were worth $4,658,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of HD. Navigoe LLC bought a new position in shares of Home Depot during the 4th quarter valued at approximately $29,000. Quarry LP grew its position in shares of Home Depot by 220.0% during the 4th quarter. Quarry LP now owns 96 shares of the home improvement retailer’s stock valued at $37,000 after acquiring an additional 66 shares during the period. Sellwood Investment Partners LLC bought a new position in shares of Home Depot during the 4th quarter valued at approximately $39,000. NewSquare Capital LLC grew its position in shares of Home Depot by 200.0% during the 4th quarter. NewSquare Capital LLC now owns 102 shares of the home improvement retailer’s stock valued at $40,000 after acquiring an additional 68 shares during the period. Finally, Spurstone Advisory Services LLC bought a new position in shares of Home Depot during the 4th quarter valued at approximately $45,000. 70.86% of the stock is owned by institutional investors.

Insider Transactions at Home Depot

In other Home Depot news, EVP Fahim Siddiqui sold 2,600 shares of the business’s stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $367.14, for a total value of $954,564.00. Following the transaction, the executive vice president owned 7,951 shares in the company, valued at approximately $2,919,130.14. The trade was a 24.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the business’s stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $369.28, for a total transaction of $1,996,327.68. Following the completion of the transaction, the executive vice president owned 17,367 shares in the company, valued at $6,413,285.76. The trade was 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 insiders.

Home Depot Stock Performance

NYSE:HD opened at $371.36 on Friday. The firm has a market cap of $369.47 billion, a PE ratio of 25.19, a price-to-earnings-growth ratio of 3.54 and a beta of 1.00. The Home Depot, Inc. has a fifty-two week low of $326.31 and a fifty-two week high of $439.37. The company has a debt-to-equity ratio of 5.95, a quick ratio of 0.28 and a current ratio of 1.09. The business has a 50 day moving average price of $364.86 and a 200-day moving average price of $376.59.

Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share for the quarter, missing analysts’ consensus estimates of $3.59 by ($0.03). The company had revenue of $39.86 billion for the quarter, compared to analysts’ expectations of $39.24 billion. Home Depot had a net margin of 8.98% and a return on equity of 242.51%. 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 posted $3.63 EPS. Equities research analysts predict that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Thursday, June 5th were given a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date of this dividend was Thursday, June 5th. Home Depot’s payout ratio is 62.42%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on HD. Robert W. Baird cut their price objective on shares of Home Depot from $430.00 to $425.00 and set an “outperform” rating for the company in a report on Wednesday, May 21st. Guggenheim reaffirmed a “buy” rating and issued a $450.00 price objective on shares of Home Depot in a report on Wednesday, May 21st. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $398.00 price objective (up from $380.00) on shares of Home Depot in a report on Wednesday, May 21st. Stifel Nicolaus raised shares of Home Depot from a “hold” rating to a “buy” rating and raised their price objective for the stock from $405.00 to $425.00 in a report on Wednesday, May 21st. Finally, Piper Sandler cut their price objective on shares of Home Depot from $435.00 to $418.00 and set an “overweight” rating for the company in a report on Monday, March 24th. Seven analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Home Depot has a consensus rating of “Moderate Buy” and an average target price of $426.77.

Home Depot 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.