92,940 Shares in The Home Depot, Inc. (NYSE:HD) Purchased by SVB Wealth LLC

SVB Wealth LLC purchased a new stake in The Home Depot, Inc. (NYSE:HD) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 92,940 shares of the home improvement retailer’s stock, valued at approximately $36,152,000. Home Depot accounts for about 0.7% of SVB Wealth LLC’s portfolio, making the stock its 18th largest position.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Roanoke Asset Management Corp NY increased its stake in Home Depot by 5.8% in the 4th quarter. Roanoke Asset Management Corp NY now owns 26,090 shares of the home improvement retailer’s stock valued at $10,149,000 after buying an additional 1,434 shares during the period. Waterway Wealth Management LLC increased its stake in shares of Home Depot by 12.5% during the fourth quarter. Waterway Wealth Management LLC now owns 765 shares of the home improvement retailer’s stock worth $298,000 after acquiring an additional 85 shares during the period. Fortress Financial Group LLC purchased a new position in Home Depot during the fourth quarter worth about $232,000. Mills Wealth Advisors LLC raised its holdings in Home Depot by 9.2% during the fourth quarter. Mills Wealth Advisors LLC now owns 737 shares of the home improvement retailer’s stock worth $287,000 after purchasing an additional 62 shares in the last quarter. Finally, Dynasty Wealth Management LLC lifted its position in Home Depot by 10.0% in the fourth quarter. Dynasty Wealth Management LLC now owns 5,190 shares of the home improvement retailer’s stock valued at $2,019,000 after purchasing an additional 473 shares during the period. 70.86% of the stock is owned by hedge funds and other institutional investors.

Home Depot Price Performance

Home Depot stock opened at $396.69 on Friday. The stock has a market capitalization of $394.06 billion, a P/E ratio of 26.95, a P/E/G ratio of 4.03 and a beta of 1.05. The Home Depot, Inc. has a 12-month low of $323.77 and a 12-month high of $439.37. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The firm’s 50-day moving average is $401.36 and its two-hundred day moving average is $398.72.

Home Depot (NYSE:HD) last announced its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.04 by $0.09. The firm had revenue of $39.70 billion for the quarter, compared to analyst estimates of $39.15 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. Home Depot’s revenue was up 14.1% compared to the same quarter last year. During the same quarter last year, the business earned $2.82 earnings per share. Equities analysts predict that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be given a $2.30 dividend. The ex-dividend date is Thursday, March 13th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.32%. This is an increase from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s payout ratio is currently 61.66%.

Wall Street Analysts Forecast Growth

HD has been the topic of several recent analyst reports. Telsey Advisory Group reiterated an “outperform” rating and set a $455.00 target price on shares of Home Depot in a research report on Wednesday. Piper Sandler dropped their price objective on Home Depot from $455.00 to $435.00 and set an “overweight” rating on the stock in a report on Wednesday. Bank of America raised their target price on Home Depot from $425.00 to $450.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Evercore ISI upped their price target on shares of Home Depot from $420.00 to $430.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Finally, Truist Financial cut their price target on shares of Home Depot from $467.00 to $437.00 and set a “buy” rating for the company in a report on Wednesday. Nine equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $436.50.

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.