Udine Wealth Management Inc. Raises Position in The Home Depot, Inc. (NYSE:HD)

Udine Wealth Management Inc. grew its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 1.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,520 shares of the home improvement retailer’s stock after acquiring an additional 104 shares during the period. Home Depot comprises approximately 1.4% of Udine Wealth Management Inc.’s holdings, making the stock its 16th largest position. Udine Wealth Management Inc.’s holdings in Home Depot were worth $2,147,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Legacy Investment Solutions LLC purchased a new position in Home Depot during the third quarter valued at approximately $41,000. Livelsberger Financial Advisory bought a new stake in shares of Home Depot during the 3rd quarter valued at $46,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of Home Depot during the 2nd quarter valued at $47,000. Quarry LP boosted its holdings in Home Depot by 36.0% in the 2nd quarter. Quarry LP now owns 136 shares of the home improvement retailer’s stock worth $47,000 after buying an additional 36 shares during the period. Finally, Semmax Financial Advisors Inc. boosted its holdings in Home Depot by 111.3% in the 2nd quarter. Semmax Financial Advisors Inc. now owns 150 shares of the home improvement retailer’s stock worth $53,000 after buying an additional 79 shares during the period. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Home Depot Price Performance

Shares of HD stock opened at $409.42 on Monday. The stock has a 50 day moving average price of $406.51 and a 200 day moving average price of $387.81. The Home Depot, Inc. has a 52-week low of $323.77 and a 52-week high of $439.37. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. The firm has a market capitalization of $406.70 billion, a P/E ratio of 27.81, a P/E/G ratio of 4.11 and a beta of 1.05.

Home Depot (NYSE:HD) last released its 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. The business had revenue of $40.22 billion during the quarter, compared to the consensus estimate of $39.31 billion. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The business’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period last year, the company earned $3.81 earnings per share. As a group, sell-side analysts predict that The Home Depot, Inc. will post 15.12 earnings per share for the current year.

Home Depot Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th were given a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date was Wednesday, November 27th. Home Depot’s dividend payout ratio (DPR) is presently 61.14%.

Wall Street Analysts Forecast Growth

HD has been the topic of several research 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. Gordon Haskett raised Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 price target on the stock in a report on Wednesday, October 2nd. Loop Capital upgraded Home Depot from a “hold” rating to a “buy” rating and upped their price target for the stock from $360.00 to $460.00 in a research note on Wednesday, October 9th. Piper Sandler lifted their price objective on shares of Home Depot from $387.00 to $455.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Finally, DA Davidson upped their target price on shares of Home Depot from $430.00 to $466.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $426.00.

Insider Activity

In other news, EVP Timothy A. Hourigan sold 16,004 shares of the firm’s stock in a transaction 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 transaction, the executive vice president now owns 77,475 shares in the company, valued at approximately $31,727,562. This trade represents a 17.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 sale, the executive vice president now directly owns 12,465 shares of the company’s stock, valued at approximately $5,018,159.70. This trade represents a 0.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 38,188 shares of company stock valued at $15,624,585. Corporate insiders own 0.10% of the company’s stock.

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.