Arbor Wealth Advisors LLC Grows Stake in The Home Depot, Inc. (NYSE:HD)

Arbor Wealth Advisors LLC raised its position in shares of The Home Depot, Inc. (NYSE:HD) by 135.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,461 shares of the home improvement retailer’s stock after purchasing an additional 841 shares during the period. Home Depot accounts for approximately 0.5% of Arbor Wealth Advisors LLC’s portfolio, making the stock its 28th largest holding. Arbor Wealth Advisors LLC’s holdings in Home Depot were worth $568,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in HD. Texas Capital Bank Wealth Management Services Inc raised its holdings in shares of Home Depot by 27.6% in the 2nd quarter. Texas Capital Bank Wealth Management Services Inc now owns 27,155 shares of the home improvement retailer’s stock valued at $9,348,000 after acquiring an additional 5,879 shares in the last quarter. Pegasus Asset Management Inc. lifted its position in Home Depot by 1.8% in the 3rd quarter. Pegasus Asset Management Inc. now owns 4,994 shares of the home improvement retailer’s stock worth $2,024,000 after buying an additional 86 shares during the last quarter. Pensionfund Sabic boosted its stake in Home Depot by 51.4% in the fourth quarter. Pensionfund Sabic now owns 11,200 shares of the home improvement retailer’s stock worth $4,357,000 after buying an additional 3,800 shares in the last quarter. Swedbank AB grew its position in Home Depot by 17.1% during the third quarter. Swedbank AB now owns 909,530 shares of the home improvement retailer’s stock valued at $368,542,000 after acquiring an additional 132,967 shares during the last quarter. Finally, Wedmont Private Capital raised its stake in shares of Home Depot by 12.5% during the fourth quarter. Wedmont Private Capital now owns 13,569 shares of the home improvement retailer’s stock worth $5,291,000 after acquiring an additional 1,506 shares in the last quarter. Institutional investors own 70.86% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on HD. Loop Capital raised shares of Home Depot from a “hold” rating to a “buy” rating and upped their price objective for the company from $360.00 to $460.00 in a research note on Wednesday, October 9th. TD Cowen raised their price objective on Home Depot from $440.00 to $460.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Royal Bank of Canada lifted their price objective on Home Depot from $363.00 to $413.00 and gave the stock a “sector perform” rating in a report on Monday, November 11th. Evercore ISI increased their target price on Home Depot from $420.00 to $430.00 and gave the company an “outperform” rating in a report on Wednesday, November 13th. Finally, Piper Sandler lifted their price target on Home Depot from $387.00 to $455.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $426.00.

Home Depot Price Performance

HD opened at $392.98 on Wednesday. The company has a current ratio of 1.13, a quick ratio of 0.31 and a debt-to-equity ratio of 8.65. The company has a market cap of $390.37 billion, a price-to-earnings ratio of 26.70, a price-to-earnings-growth ratio of 2.90 and a beta of 1.05. The stock has a fifty day simple moving average of $405.88 and a two-hundred day simple moving average of $386.65. The Home Depot, Inc. has a 12-month low of $323.77 and a 12-month high of $439.37.

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 analysts’ consensus estimates 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 the consensus estimate of $39.31 billion. During the same period in the prior year, the firm earned $3.81 EPS. The company’s revenue was up 6.6% compared to the same quarter last year. Research analysts predict 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 declared a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Wednesday, November 27th were given a $2.25 dividend. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.29%. Home Depot’s dividend payout ratio is currently 61.14%.

Insider Buying and Selling

In other news, EVP Timothy A. Hourigan sold 16,004 shares of the stock in a transaction on 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 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Ann Marie Campbell sold 100 shares of Home Depot stock in a transaction dated 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 transaction, the executive vice president now directly owns 12,465 shares of the company’s stock, valued at approximately $5,018,159.70. This represents a 0.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 38,188 shares of company stock worth $15,624,585 in the last 90 days. Insiders own 0.10% of the company’s stock.

Home Depot Company Profile

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.