The Home Depot, Inc. (NYSE:HD) is Independent Advisor Alliance’s 7th Largest Position

Independent Advisor Alliance cut its holdings in The Home Depot, Inc. (NYSE:HD) by 3.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 105,259 shares of the home improvement retailer’s stock after selling 3,744 shares during the quarter. Home Depot accounts for 1.6% of Independent Advisor Alliance’s investment portfolio, making the stock its 7th largest position. Independent Advisor Alliance’s holdings in Home Depot were worth $42,651,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Texas Capital Bank Wealth Management Services Inc increased its position in shares of Home Depot by 27.6% in the second quarter. Texas Capital Bank Wealth Management Services Inc now owns 27,155 shares of the home improvement retailer’s stock valued at $9,348,000 after buying an additional 5,879 shares in the last quarter. Pegasus Asset Management Inc. increased its position in shares of Home Depot by 1.8% in the third quarter. Pegasus Asset Management Inc. now owns 4,994 shares of the home improvement retailer’s stock valued at $2,024,000 after buying an additional 86 shares in the last quarter. Swedbank AB increased its position in shares of Home Depot by 17.1% in the third quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer’s stock valued at $368,542,000 after buying an additional 132,967 shares in the last quarter. LGT Group Foundation increased its position in shares of Home Depot by 121.0% in the second quarter. LGT Group Foundation now owns 269,368 shares of the home improvement retailer’s stock valued at $92,727,000 after buying an additional 147,482 shares in the last quarter. Finally, CX Institutional increased its position in shares of Home Depot by 225.6% in the third quarter. CX Institutional now owns 32,717 shares of the home improvement retailer’s stock valued at $13,257,000 after buying an additional 22,668 shares in the last quarter. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

HD has been the subject of a number of recent analyst reports. Morgan Stanley boosted their price objective on Home Depot from $380.00 to $450.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Evercore ISI lifted their price target on Home Depot from $420.00 to $430.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Loop Capital raised Home Depot from a “hold” rating to a “buy” rating and lifted their price target for the stock from $360.00 to $460.00 in a research note on Wednesday, October 9th. TD Cowen lifted their price target on Home Depot from $440.00 to $460.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Finally, Telsey Advisory Group raised Home Depot from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $360.00 to $455.00 in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $426.00.

Insiders Place Their Bets

In other news, EVP Ann Marie Campbell sold 100 shares of the company’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $402.58, for a total transaction of $40,258.00. Following the completion of the transaction, the executive vice president now directly owns 12,465 shares of the company’s stock, valued at approximately $5,018,159.70. This represents a 0.80 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Timothy A. Hourigan sold 16,004 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $409.52, for a total value of $6,553,958.08. Following the transaction, the executive vice president now directly owns 77,475 shares of the company’s stock, valued at approximately $31,727,562. This represents a 17.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 38,188 shares of company stock worth $15,624,585 in the last quarter. 0.10% of the stock is owned by company insiders.

Home Depot Price Performance

HD stock opened at $420.00 on Monday. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The company has a market capitalization of $417.21 billion, a PE ratio of 28.53, a P/E/G ratio of 2.92 and a beta of 1.01. The Home Depot, Inc. has a 12-month low of $308.31 and a 12-month high of $421.56. The business’s fifty day moving average price is $403.23 and its 200 day moving average price is $369.25.

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

Home Depot Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 12th. Shareholders of record on Wednesday, November 27th will be issued a dividend of $2.25 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $9.00 annualized dividend and a yield of 2.14%. Home Depot’s dividend payout ratio (DPR) is 61.14%.

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.