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

SOA Wealth Advisors LLC. raised its position in shares of The Home Depot, Inc. (NYSE:HD) by 790.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 30,199 shares of the home improvement retailer’s stock after purchasing an additional 26,807 shares during the period. Home Depot comprises 1.3% of SOA Wealth Advisors LLC.’s portfolio, making the stock its 17th biggest position. SOA Wealth Advisors LLC.’s holdings in Home Depot were worth $11,068,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of HD. Wealth Group Ltd. increased its holdings in shares of Home Depot by 5.0% in the 4th quarter. Wealth Group Ltd. now owns 563 shares of the home improvement retailer’s stock valued at $219,000 after acquiring an additional 27 shares during the period. Tallon Kerry Patrick purchased a new position in shares of Home Depot in the 4th quarter valued at $281,000. Capital & Planning LLC increased its holdings in shares of Home Depot by 110.2% in the 4th quarter. Capital & Planning LLC now owns 1,074 shares of the home improvement retailer’s stock valued at $418,000 after acquiring an additional 563 shares during the period. Ironwood Wealth Management LLC. increased its holdings in shares of Home Depot by 0.7% in the 4th quarter. Ironwood Wealth Management LLC. now owns 4,537 shares of the home improvement retailer’s stock valued at $1,765,000 after acquiring an additional 32 shares during the period. Finally, Brighton Jones LLC increased its holdings in shares of Home Depot by 36.5% in the 4th quarter. Brighton Jones LLC now owns 26,918 shares of the home improvement retailer’s stock valued at $10,471,000 after acquiring an additional 7,203 shares during the period. 70.86% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Home Depot news, EVP Fahim Siddiqui sold 2,600 shares of the business’s stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $367.14, for a total transaction of $954,564.00. Following the completion of the sale, the executive vice president now directly owns 7,951 shares in the company, valued at approximately $2,919,130.14. The trade was a 24.64% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the business’s stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $369.28, for a total value of $1,996,327.68. Following the sale, the executive vice president now owns 17,367 shares of the company’s stock, valued at approximately $6,413,285.76. This trade represents a 23.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by insiders.

Home Depot Stock Performance

Shares of HD stock opened at $367.45 on Friday. The stock has a market cap of $365.59 billion, a PE ratio of 24.96, a price-to-earnings-growth ratio of 4.03 and a beta of 1.02. The business has a 50-day simple moving average of $361.63 and a 200-day simple moving average of $384.62. 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 Home Depot, Inc. has a 52-week low of $326.31 and a 52-week high of $439.37.

Home Depot (NYSE:HD) last issued its quarterly earnings data on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.59 by ($0.03). The company had revenue of $39.86 billion during the quarter, compared to analyst estimates of $39.24 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period last year, the firm earned $3.63 EPS. On average, equities analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 18th. Stockholders of record on Thursday, June 5th will be issued a $2.30 dividend. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $9.20 annualized dividend and a dividend yield of 2.50%. Home Depot’s dividend payout ratio (DPR) is presently 62.42%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on HD shares. Robert W. Baird dropped their target price on Home Depot from $430.00 to $425.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 21st. KGI Securities upgraded Home Depot to a “strong-buy” rating in a research note on Monday, March 3rd. HSBC upgraded Home Depot from a “reduce” rating to a “hold” rating and boosted their target price for the stock from $356.00 to $410.00 in a research note on Wednesday, February 26th. Truist Financial boosted their target price on Home Depot from $393.00 to $417.00 and gave the stock a “buy” rating in a research note on Tuesday, May 20th. Finally, Sanford C. Bernstein restated a “market perform” rating and set a $398.00 target price (up from $380.00) on shares of Home Depot in a research note on Wednesday, May 21st. Seven equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $426.77.

Home Depot 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.