Physicians Financial Services Inc. Increases Stock Position in The Home Depot, Inc. (NYSE:HD)

Physicians Financial Services Inc. boosted its holdings in The Home Depot, Inc. (NYSE:HD) by 2.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,928 shares of the home improvement retailer’s stock after acquiring an additional 300 shares during the quarter. Home Depot accounts for approximately 1.4% of Physicians Financial Services Inc.’s holdings, making the stock its 18th largest position. Physicians Financial Services Inc.’s holdings in Home Depot were worth $4,371,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Navigoe LLC purchased a new stake in Home Depot during the fourth quarter valued at $29,000. Abound Financial LLC purchased a new position in Home Depot in the first quarter worth about $31,000. Iron Horse Wealth Management LLC grew its stake in shares of Home Depot by 86.8% during the 1st quarter. Iron Horse Wealth Management LLC now owns 99 shares of the home improvement retailer’s stock valued at $36,000 after purchasing an additional 46 shares during the period. Quarry LP grew its stake 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 purchasing an additional 66 shares during the period. Finally, Quest 10 Wealth Builders Inc. increased its position in shares of Home Depot by 35.7% during the 1st quarter. Quest 10 Wealth Builders Inc. now owns 114 shares of the home improvement retailer’s stock valued at $42,000 after purchasing an additional 30 shares during the last quarter. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on HD shares. Telsey Advisory Group reissued an “outperform” rating and issued a $455.00 price objective on shares of Home Depot in a report on Monday, June 30th. DA Davidson dropped their price target on shares of Home Depot from $470.00 to $450.00 in a research note on Tuesday, May 20th. Morgan Stanley reaffirmed an “overweight” rating and issued a $415.00 target price (up from $410.00) on shares of Home Depot in a report on Tuesday, May 20th. Mizuho cut their price target on Home Depot from $450.00 to $435.00 and set an “outperform” rating for the company in a report on Wednesday, May 21st. Finally, Guggenheim reissued a “buy” rating and set a $450.00 price target on shares of Home Depot in a report on Wednesday, May 21st. Seven equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $426.77.

Home Depot Trading Up 0.6%

Shares of HD stock opened at $375.17 on Monday. The company has a market cap of $373.27 billion, a PE ratio of 25.45, a price-to-earnings-growth ratio of 3.57 and a beta of 1.00. The Home Depot, Inc. has a 1 year low of $326.31 and a 1 year high of $439.37. The stock’s 50 day simple moving average is $365.59 and its two-hundred day simple moving average is $373.75. The company has a debt-to-equity ratio of 5.95, a current ratio of 1.09 and a quick ratio of 0.28.

Home Depot (NYSE:HD) last issued its quarterly earnings results 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). Home Depot had a return on equity of 242.51% and a net margin of 8.98%. The company had revenue of $39.86 billion during the quarter, compared to the consensus estimate of $39.24 billion. During the same quarter in the prior year, the business earned $3.63 earnings per share. The firm’s quarterly revenue was up 9.4% compared to the same quarter last year. 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 declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Thursday, June 5th were paid a dividend of $2.30 per share. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.45%. Home Depot’s dividend payout ratio is presently 62.42%.

Insider Activity

In other news, EVP Fahim Siddiqui sold 2,600 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president owned 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the stock in a transaction that occurred on 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 completion of the sale, the executive vice president owned 17,367 shares in the company, valued at approximately $6,413,285.76. The trade was a 23.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.10% of the company’s stock.

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.