Bridgewealth Advisory Group LLC Acquires Shares of 1,321 The Home Depot, Inc. (NYSE:HD)

Bridgewealth Advisory Group LLC bought a new stake in shares of The Home Depot, Inc. (NYSE:HD) in the 4th quarter, HoldingsChannel reports. The fund bought 1,321 shares of the home improvement retailer’s stock, valued at approximately $545,000.

A number of other hedge funds also recently made changes to their positions in the business. Synergy Asset Management LLC bought a new stake in Home Depot in the fourth quarter worth about $26,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of Home Depot during the 4th quarter worth approximately $28,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of Home Depot during the 4th quarter worth approximately $32,000. Quarry LP raised its holdings in shares of Home Depot by 220.0% in the 4th quarter. Quarry LP now owns 96 shares of the home improvement retailer’s stock worth $37,000 after purchasing an additional 66 shares during the period. Finally, Sellwood Investment Partners LLC purchased a new position in Home Depot in the fourth quarter valued at approximately $39,000. 70.86% of the stock is currently owned by institutional investors.

Home Depot Stock Up 0.6 %

HD opened at $359.05 on Wednesday. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The business’s fifty day simple moving average is $362.50 and its 200 day simple moving average is $391.50. The Home Depot, Inc. has a 52 week low of $323.77 and a 52 week high of $439.37. The stock has a market cap of $356.91 billion, a PE ratio of 24.39, a P/E/G ratio of 4.03 and a beta of 1.09.

Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS for the quarter, beating the consensus estimate 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 return on equity of 452.60% and a net margin of 9.45%. The company’s revenue was up 14.1% on a year-over-year basis. During the same period in the prior year, the company earned $2.82 EPS. As a group, research analysts expect that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were issued a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.56%. This is a positive change from Home Depot’s previous quarterly dividend of $2.25. The ex-dividend date was Thursday, March 13th. Home Depot’s payout ratio is presently 61.66%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Piper Sandler lowered their target price on Home Depot from $435.00 to $418.00 and set an “overweight” rating on the stock in a research note on Monday, March 24th. Truist Financial lowered their price objective on Home Depot from $437.00 to $391.00 and set a “buy” rating on the stock in a research note on Tuesday, April 8th. HSBC raised shares of Home Depot from a “reduce” rating to a “hold” rating and upped their price objective for the company from $356.00 to $410.00 in a report on Wednesday, February 26th. Guggenheim reiterated a “buy” rating and issued a $450.00 target price on shares of Home Depot in a research note on Wednesday, February 26th. Finally, Wedbush restated an “outperform” rating and set a $440.00 price target on shares of Home Depot in a research note on Wednesday, February 26th. Ten equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $434.08.

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.