NewEdge Advisors LLC Buys 15,123 Shares of The Home Depot, Inc. (NYSE:HD)

NewEdge Advisors LLC raised its position in The Home Depot, Inc. (NYSE:HD - Free Report) by 8.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 198,725 shares of the home improvement retailer's stock after buying an additional 15,123 shares during the period. NewEdge Advisors LLC's holdings in Home Depot were worth $77,302,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in HD. Synergy Asset Management LLC bought a new stake in Home Depot during the 4th quarter worth approximately $26,000. Wingate Wealth Advisors Inc. acquired a new position in Home Depot in the fourth quarter worth $28,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in shares of Home Depot in the fourth quarter valued at $32,000. Sellwood Investment Partners LLC bought a new position in shares of Home Depot in the fourth quarter valued at about $39,000. Finally, NewSquare Capital LLC lifted its position in Home Depot by 200.0% during the 4th quarter. NewSquare Capital LLC now owns 102 shares of the home improvement retailer's stock worth $40,000 after buying an additional 68 shares in the last quarter. 70.86% of the stock is owned by institutional investors.

Home Depot Stock Up 2.6 %

Shares of HD traded up $8.86 on Friday, hitting $354.85. The company's stock had a trading volume of 3,231,380 shares, compared to its average volume of 3,470,719. The firm's fifty day moving average price is $369.30 and its 200-day moving average price is $394.20. The Home Depot, Inc. has a fifty-two week low of $323.77 and a fifty-two week high of $439.37. 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 firm has a market capitalization of $352.73 billion, a price-to-earnings ratio of 24.11, a P/E/G ratio of 4.03 and a beta of 1.09.

Home Depot (NYSE:HD - Get Free Report) last released its quarterly earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, beating the consensus estimate of $3.04 by $0.09. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The company had revenue of $39.70 billion during the quarter, compared to analysts' expectations of $39.15 billion. During the same quarter in the prior year, the company earned $2.82 earnings per share. The business's quarterly revenue was up 14.1% compared to the same quarter last year. On average, equities research analysts expect that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were given a $2.30 dividend. This represents a $9.20 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date of this dividend was Thursday, March 13th. This is a positive change from Home Depot's previous quarterly dividend of $2.25. Home Depot's dividend payout ratio (DPR) is currently 61.66%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on HD shares. Guggenheim reaffirmed a "buy" rating and issued a $450.00 target price on shares of Home Depot in a research note on Wednesday, February 26th. KGI Securities upgraded shares of Home Depot to a "strong-buy" rating in a research report on Monday, March 3rd. HSBC upgraded Home Depot from a "reduce" rating to a "hold" rating and increased their price objective for the company from $356.00 to $410.00 in a research report on Wednesday, February 26th. Hsbc Global Res upgraded Home Depot from a "moderate sell" rating to a "hold" rating in a research report on Wednesday, February 26th. Finally, Piper Sandler decreased their price target on Home Depot from $435.00 to $418.00 and set an "overweight" rating on the stock in a report on Monday, March 24th. Ten investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Home Depot presently has a consensus rating of "Moderate Buy" and an average target price of $434.08.

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.