The Home Depot, Inc. (NYSE:HD) Shares Purchased by NovaPoint Capital LLC

NovaPoint Capital LLC increased its position in shares of The Home Depot, Inc. (NYSE:HD) by 19.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,490 shares of the home improvement retailer’s stock after buying an additional 4,741 shares during the quarter. Home Depot accounts for 3.7% of NovaPoint Capital LLC’s portfolio, making the stock its 4th biggest holding. NovaPoint Capital LLC’s holdings in Home Depot were worth $11,949,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of HD. Fairway Wealth LLC bought a new stake in shares of Home Depot in the second quarter worth about $25,000. Kings Path Partners LLC acquired a new stake in shares of Home Depot during the second quarter worth $33,000. Denver PWM LLC bought a new stake in shares of Home Depot during the 2nd quarter valued at $40,000. Abich Financial Wealth Management LLC raised its position in Home Depot by 68.0% during the first quarter. Abich Financial Wealth Management LLC now owns 126 shares of the home improvement retailer’s stock valued at $48,000 after purchasing an additional 51 shares in the last quarter. Finally, Koesten Hirschmann & Crabtree INC. acquired a new position in shares of Home Depot during the first quarter worth $49,000. 70.86% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

HD has been the subject of several recent research reports. UBS Group boosted their target price on shares of Home Depot from $400.00 to $425.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. DA Davidson upped their target price on shares of Home Depot from $395.00 to $430.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Truist Financial lifted their price target on Home Depot from $395.00 to $455.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Guggenheim raised their price objective on Home Depot from $390.00 to $450.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Finally, Jefferies Financial Group initiated coverage on shares of Home Depot in a research note on Tuesday, July 16th. They set a “buy” rating and a $426.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-two have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $404.69.

Home Depot Stock Performance

Shares of Home Depot stock opened at $415.00 on Friday. The firm has a market cap of $411.52 billion, a PE ratio of 27.83, a price-to-earnings-growth ratio of 2.88 and a beta of 1.00. The firm’s 50-day simple moving average is $385.10 and its 200-day simple moving average is $358.50. The company has a debt-to-equity ratio of 11.74, a quick ratio of 0.33 and a current ratio of 1.15. The Home Depot, Inc. has a 1 year low of $274.26 and a 1 year high of $421.56.

Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, August 13th. The home improvement retailer reported $4.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.59 by $0.08. Home Depot had a net margin of 9.71% and a return on equity of 681.27%. The business had revenue of $43.18 billion during the quarter, compared to analysts’ expectations of $42.57 billion. During the same period last year, the firm posted $4.65 earnings per share. The business’s revenue was up .6% on a year-over-year basis. Equities analysts forecast that The Home Depot, Inc. will post 15.01 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 12th. Stockholders of record on Thursday, August 29th were paid a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date was Thursday, August 29th. Home Depot’s dividend payout ratio (DPR) is presently 60.36%.

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.