Affinity Wealth Management LLC Increases Stock Holdings in The Home Depot, Inc. (NYSE:HD)

Affinity Wealth Management LLC lifted its stake in shares of The Home Depot, Inc. (NYSE:HD) by 2.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 18,467 shares of the home improvement retailer’s stock after acquiring an additional 458 shares during the period. Home Depot makes up 1.3% of Affinity Wealth Management LLC’s holdings, making the stock its 23rd biggest holding. Affinity Wealth Management LLC’s holdings in Home Depot were worth $7,184,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Legacy Investment Solutions LLC purchased a new stake in Home Depot during the 3rd quarter worth approximately $41,000. Sugar Maple Asset Management LLC purchased a new stake in Home Depot during the 4th quarter worth approximately $41,000. Livelsberger Financial Advisory purchased a new stake in Home Depot during the 3rd quarter worth approximately $46,000. Strategic Investment Solutions Inc. IL purchased a new stake in Home Depot during the 2nd quarter worth approximately $47,000. Finally, Quarry LP increased its holdings in Home Depot by 36.0% during the 2nd quarter. Quarry LP now owns 136 shares of the home improvement retailer’s stock worth $47,000 after purchasing an additional 36 shares during the last quarter. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Home Depot Trading Up 2.5 %

Shares of HD stock opened at $424.78 on Tuesday. The stock has a 50-day simple moving average of $407.14 and a 200 day simple moving average of $390.86. The Home Depot, Inc. has a fifty-two week low of $323.77 and a fifty-two week high of $439.37. The stock has a market capitalization of $421.96 billion, a P/E ratio of 28.86, a P/E/G ratio of 4.32 and a beta of 1.05. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 EPS for the quarter, beating 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 business had revenue of $40.22 billion during the quarter, compared to the consensus estimate of $39.31 billion. During the same period in the prior year, the business posted $3.81 earnings per share. Home Depot’s revenue was up 6.6% compared to the same quarter last year. On average, sell-side analysts expect that The Home Depot, Inc. will post 15.12 earnings per share 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 2.12%. The ex-dividend date of this dividend was Wednesday, November 27th. Home Depot’s dividend payout ratio is 61.14%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on HD. Bank of America boosted their price target on Home Depot from $425.00 to $450.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Piper Sandler boosted their price target on Home Depot from $387.00 to $455.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Gordon Haskett upgraded Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 price objective for the company in a research report on Wednesday, October 2nd. Mizuho boosted their price objective on Home Depot from $435.00 to $440.00 and gave the company an “outperform” rating in a research report on Wednesday, November 13th. Finally, Wells Fargo & Company boosted their price objective on Home Depot from $400.00 to $430.00 and gave the company an “overweight” rating in a research report on Wednesday, November 6th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to MarketBeat, Home Depot currently has an average rating of “Moderate Buy” and an average target price of $426.00.

Insider Activity

In related news, EVP Timothy A. Hourigan sold 16,004 shares of the 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 completion of the sale, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Teresa Wynn Roseborough sold 22,084 shares of the firm’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $408.91, for a total value of $9,030,368.44. Following the sale, the executive vice president now directly owns 20,404 shares of the company’s stock, valued at $8,343,399.64. This trade represents a 51.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 38,188 shares of company stock valued at $15,624,585 over the last three months. 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.