Beta Wealth Group Inc. Grows Position in The Home Depot, Inc. (NYSE:HD)

Beta Wealth Group Inc. increased its position in The Home Depot, Inc. (NYSE:HDGet Rating) by 1.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 10,419 shares of the home improvement retailer’s stock after purchasing an additional 114 shares during the quarter. Home Depot makes up about 2.1% of Beta Wealth Group Inc.’s investment portfolio, making the stock its 18th largest holding. Beta Wealth Group Inc.’s holdings in Home Depot were worth $2,875,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in HD. First Personal Financial Services lifted its stake in shares of Home Depot by 81.1% in the 3rd quarter. First Personal Financial Services now owns 96 shares of the home improvement retailer’s stock valued at $26,000 after purchasing an additional 43 shares during the period. Fairfield Bush & CO. purchased a new position in shares of Home Depot in the 1st quarter valued at approximately $27,000. Grayhawk Investment Strategies Inc. purchased a new position in shares of Home Depot in the 2nd quarter valued at approximately $28,000. Mizuho Securities Co. Ltd. lifted its stake in shares of Home Depot by 119.5% in the 2nd quarter. Mizuho Securities Co. Ltd. now owns 90 shares of the home improvement retailer’s stock valued at $37,000 after purchasing an additional 49 shares during the period. Finally, Klaas Financial Asset Advisors LLC purchased a new position in Home Depot during the third quarter valued at $41,000. Hedge funds and other institutional investors own 68.31% of the company’s stock.

Home Depot Stock Performance

NYSE:HD opened at $331.21 on Tuesday. The stock has a 50-day simple moving average of $319.13 and a two-hundred day simple moving average of $301.30. The Home Depot, Inc. has a 52-week low of $264.51 and a 52-week high of $382.01. The company has a debt-to-equity ratio of 32.16, a quick ratio of 0.33 and a current ratio of 1.39. The firm has a market capitalization of $339.07 billion, a PE ratio of 19.96, a P/E/G ratio of 1.77 and a beta of 0.95.

Home Depot (NYSE:HDGet Rating) last released its quarterly earnings results on Tuesday, November 15th. The home improvement retailer reported $4.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.11 by $0.13. Home Depot had a negative return on equity of 3,656.69% and a net margin of 10.87%. The business had revenue of $38.87 billion during the quarter, compared to analyst estimates of $37.96 billion. During the same quarter in the previous year, the company posted $3.92 earnings per share. Home Depot’s revenue for the quarter was up 5.6% on a year-over-year basis. Analysts forecast that The Home Depot, Inc. will post 16.64 EPS for the current year.

Home Depot Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 15th. Stockholders of record on Thursday, December 1st were given a $1.90 dividend. The ex-dividend date of this dividend was Wednesday, November 30th. This represents a $7.60 annualized dividend and a dividend yield of 2.29%. Home Depot’s payout ratio is 45.81%.

Analyst Ratings Changes

HD has been the subject of a number of recent research reports. MKM Partners lowered their price objective on Home Depot from $330.00 to $312.00 in a research note on Wednesday, November 9th. Exane BNP Paribas cut Home Depot from an “outperform” rating to a “neutral” rating and set a $286.00 price objective for the company. in a research note on Wednesday, October 19th. Truist Financial lowered their price objective on Home Depot from $400.00 to $382.00 and set a “buy” rating for the company in a research note on Wednesday, November 16th. Cowen lifted their price objective on Home Depot from $350.00 to $379.00 and gave the company an “outperform” rating in a research note on Tuesday, December 13th. Finally, StockNews.com cut Home Depot from a “buy” rating to a “hold” rating in a research note on Monday, November 21st. Nine research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $341.24.

Insider Activity

In other Home Depot news, Director Paula Santilli acquired 1,583 shares of the stock in a transaction dated Wednesday, November 16th. The shares were acquired at an average cost of $315.80 per share, for a total transaction of $499,911.40. Following the completion of the transaction, the director now directly owns 1,583 shares of the company’s stock, valued at $499,911.40. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, EVP Fahim Siddiqui sold 2,000 shares of the business’s stock in a transaction dated Thursday, November 17th. The stock was sold at an average price of $311.29, for a total value of $622,580.00. Following the transaction, the executive vice president now directly owns 3,928 shares in the company, valued at $1,222,747.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Paula Santilli acquired 1,583 shares of the stock in a transaction dated Wednesday, November 16th. The stock was acquired at an average price of $315.80 per share, for a total transaction of $499,911.40. Following the completion of the transaction, the director now directly owns 1,583 shares of the company’s stock, valued at $499,911.40. The disclosure for this purchase can be found here. Company insiders own 0.17% of the company’s stock.

About Home Depot

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The Home Depot, Inc operates as a home improvement retailer. It operates The Home Depot stores that sell various building materials, home improvement products, lawn and garden products, and d├ęcor products, as well as facilities maintenance, repair, and operations products The company also offers installation services for flooring, cabinets and cabinet makeovers, countertops, furnaces and central air systems, and windows.

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Institutional Ownership by Quarter for Home Depot (NYSE:HD)

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