The Home Depot, Inc. (NYSE:HD) Shares Bought by Alpha Cubed Investments LLC

Alpha Cubed Investments LLC increased its stake in The Home Depot, Inc. (NYSE:HD) by 73.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 58,997 shares of the home improvement retailer’s stock after buying an additional 25,074 shares during the quarter. Home Depot comprises 1.0% of Alpha Cubed Investments LLC’s portfolio, making the stock its 29th largest position. Alpha Cubed Investments LLC’s holdings in Home Depot were worth $22,949,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. International Assets Investment Management LLC raised its stake in shares of Home Depot by 51,250.1% during the third quarter. International Assets Investment Management LLC now owns 8,779,833 shares of the home improvement retailer’s stock valued at $35,575,880,000 after purchasing an additional 8,762,735 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Home Depot during the 3rd quarter worth $336,231,000. FMR LLC boosted its position in Home Depot by 10.1% in the 3rd quarter. FMR LLC now owns 8,679,237 shares of the home improvement retailer’s stock valued at $3,516,827,000 after buying an additional 795,438 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec grew its stake in shares of Home Depot by 295.6% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 693,318 shares of the home improvement retailer’s stock valued at $280,932,000 after acquiring an additional 518,054 shares in the last quarter. Finally, Magnolia Capital Advisors LLC purchased a new stake in shares of Home Depot during the second quarter worth about $159,365,000. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on HD shares. DA Davidson increased their target price on Home Depot from $430.00 to $466.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Piper Sandler boosted their target price on shares of Home Depot from $387.00 to $455.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Telsey Advisory Group raised shares of Home Depot from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $360.00 to $455.00 in a research report on Friday, November 8th. Bank of America upped their price objective on Home Depot from $425.00 to $450.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Finally, Loop Capital upgraded Home Depot from a “hold” rating to a “buy” rating and boosted their price target for the company from $360.00 to $460.00 in a report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $426.00.

Insider Buying and Selling

In other news, EVP Ann Marie Campbell sold 100 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $402.58, for a total value of $40,258.00. Following the completion of the sale, the executive vice president now owns 12,465 shares of the company’s stock, valued at $5,018,159.70. This trade represents a 0.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Teresa Wynn Roseborough sold 22,084 shares of the company’s stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $408.91, for a total value of $9,030,368.44. Following the transaction, the executive vice president now directly owns 20,404 shares in the company, valued at $8,343,399.64. The trade was a 51.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 38,188 shares of company stock valued at $15,624,585. 0.10% of the stock is owned by corporate insiders.

Home Depot Stock Performance

Shares of HD opened at $410.14 on Thursday. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The firm’s 50 day moving average is $406.84 and its 200-day moving average is $389.32. The Home Depot, Inc. has a 12-month low of $323.77 and a 12-month high of $439.37. The stock has a market capitalization of $407.42 billion, a P/E ratio of 27.86, a P/E/G ratio of 4.31 and a beta of 1.05.

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

Home Depot Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th were issued a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a dividend yield of 2.19%. The ex-dividend date of this dividend was Wednesday, November 27th. Home Depot’s dividend payout ratio is 61.14%.

About Home Depot

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.