ABLE Financial Group LLC Increases Holdings in The Home Depot, Inc. (NYSE:HD)

ABLE Financial Group LLC increased its stake in shares of The Home Depot, Inc. (NYSE:HD) by 10.6% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 5,667 shares of the home improvement retailer’s stock after purchasing an additional 542 shares during the period. ABLE Financial Group LLC’s holdings in Home Depot were worth $2,296,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in HD. International Assets Investment Management LLC increased its holdings in shares of Home Depot by 51,250.1% in the third quarter. International Assets Investment Management LLC now owns 8,779,833 shares of the home improvement retailer’s stock worth $35,575,880,000 after purchasing an additional 8,762,735 shares during the period. Legal & General Group Plc grew its position in Home Depot by 1.2% during the second quarter. Legal & General Group Plc now owns 8,515,343 shares of the home improvement retailer’s stock worth $2,931,328,000 after buying an additional 100,139 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Home Depot by 15.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,437,805 shares of the home improvement retailer’s stock worth $2,853,143,000 after acquiring an additional 971,833 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Home Depot by 2.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 5,774,083 shares of the home improvement retailer’s stock valued at $1,980,883,000 after acquiring an additional 138,396 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Home Depot by 7.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,643,176 shares of the home improvement retailer’s stock valued at $1,598,316,000 after acquiring an additional 333,312 shares during the last quarter. Institutional investors own 70.86% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Melius Research started coverage on shares of Home Depot in a research report on Monday, September 23rd. They issued a “buy” rating and a $420.00 price objective on the stock. Daiwa America raised shares of Home Depot to a “hold” rating in a report on Thursday, August 15th. Truist Financial lifted their price objective on shares of Home Depot from $455.00 to $459.00 and gave the stock a “buy” rating in a report on Thursday. Piper Sandler increased their target price on Home Depot from $387.00 to $455.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Finally, DA Davidson lifted their price target on Home Depot from $430.00 to $466.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $420.04.

Home Depot Price Performance

HD opened at $405.90 on Friday. The company has a current ratio of 1.15, a quick ratio of 0.33 and a debt-to-equity ratio of 11.74. The company has a market cap of $403.18 billion, a price-to-earnings ratio of 27.31, a price-to-earnings-growth ratio of 2.69 and a beta of 1.01. The stock has a fifty day simple moving average of $395.19 and a two-hundred day simple moving average of $363.84. The Home Depot, Inc. has a 12-month low of $286.79 and a 12-month high of $421.56.

Home Depot (NYSE:HD) last issued its quarterly earnings results on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.59 by $0.08. Home Depot had a net margin of 9.71% and a return on equity of 733.61%. The company had revenue of $43.18 billion during the quarter, compared to analyst estimates of $42.57 billion. During the same period last year, the business earned $4.65 EPS. Home Depot’s quarterly revenue was up .6% compared to the same quarter last year. Research analysts predict that The Home Depot, Inc. will post 15.01 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Investors of record on Thursday, August 29th were paid a $2.25 dividend. The ex-dividend date was Thursday, August 29th. This represents a $9.00 annualized dividend and a dividend yield of 2.22%. Home Depot’s payout ratio is currently 60.57%.

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.