The Home Depot, Inc. (NYSE:HD) Shares Bought by Providence Wealth Advisors LLC

Providence Wealth Advisors LLC grew its stake in shares of The Home Depot, Inc. (NYSE:HD) by 0.6% in the 3rd quarter, Holdings Channel.com reports. The fund owned 6,146 shares of the home improvement retailer’s stock after purchasing an additional 37 shares during the quarter. Home Depot makes up about 1.8% of Providence Wealth Advisors LLC’s holdings, making the stock its 16th largest position. Providence Wealth Advisors LLC’s holdings in Home Depot were worth $2,466,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in HD. Fairway Wealth LLC acquired a new position in Home Depot during the 2nd quarter worth $25,000. Kings Path Partners LLC acquired a new position in Home Depot during the 2nd quarter worth $33,000. Denver PWM LLC acquired a new position in Home Depot during the 2nd quarter worth $40,000. Livelsberger Financial Advisory acquired a new position in Home Depot during the 3rd quarter worth $46,000. Finally, Strategic Investment Solutions Inc. IL acquired a new position in Home Depot during the 2nd quarter worth $47,000. 70.86% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently commented on HD. Piper Sandler lifted their price target on shares of Home Depot from $387.00 to $455.00 and gave the company an “overweight” rating in a report on Monday, September 30th. UBS Group lifted their price target on shares of Home Depot from $400.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Melius Research began coverage on shares of Home Depot in a report on Monday, September 23rd. They issued a “buy” rating and a $420.00 price target for the company. Morgan Stanley lifted their price target on shares of Home Depot from $380.00 to $450.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Finally, Sanford C. Bernstein began coverage on shares of Home Depot in a report on Tuesday, October 22nd. They issued a “market perform” rating and a $451.00 price target for the company. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $426.00.

Home Depot Stock Down 0.0 %

HD stock opened at $427.19 on Friday. The Home Depot, Inc. has a 52 week low of $308.59 and a 52 week high of $439.37. The company has a market capitalization of $424.35 billion, a price-to-earnings ratio of 29.02, a price-to-earnings-growth ratio of 2.97 and a beta of 1.01. The firm’s 50-day moving average is $406.69 and its two-hundred day moving average is $371.20. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD) last released its quarterly earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 EPS for the quarter, topping analysts’ consensus estimates of $3.64 by $0.14. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The company had revenue of $40.22 billion for the quarter, compared to the consensus estimate of $39.31 billion. During the same period in the previous year, the firm earned $3.81 EPS. Home Depot’s revenue was up 6.6% on a year-over-year basis. On average, analysts forecast that The Home Depot, Inc. will post 15.12 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Wednesday, November 27th will be issued a $2.25 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.11%. Home Depot’s payout ratio is currently 61.14%.

Insider Buying and Selling

In related news, EVP Ann Marie Campbell sold 100 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $402.58, for a total value of $40,258.00. Following the sale, the executive vice president now directly owns 12,465 shares in the company, valued at $5,018,159.70. The trade was a 0.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Timothy A. Hourigan sold 16,004 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $409.52, for a total transaction of $6,553,958.08. Following the completion of the sale, the executive vice president now owns 77,475 shares in the company, valued at $31,727,562. The trade was a 17.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 38,188 shares of company stock worth $15,624,585 in the last ninety days. 0.10% of the stock is currently owned by corporate insiders.

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.