New Age Alpha Advisors LLC Has $970,000 Stake in The Home Depot, Inc. (NYSE:HD)

New Age Alpha Advisors LLC raised its stake in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 8,807.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,494 shares of the home improvement retailer's stock after purchasing an additional 2,466 shares during the quarter. New Age Alpha Advisors LLC's holdings in Home Depot were worth $970,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. K.J. Harrison & Partners Inc boosted its holdings in Home Depot by 65.2% in the 4th quarter. K.J. Harrison & Partners Inc now owns 9,100 shares of the home improvement retailer's stock valued at $3,535,000 after purchasing an additional 3,590 shares during the last quarter. Ashton Thomas Private Wealth LLC lifted its position in shares of Home Depot by 19.5% during the 4th quarter. Ashton Thomas Private Wealth LLC now owns 23,758 shares of the home improvement retailer's stock worth $9,242,000 after purchasing an additional 3,873 shares during the last quarter. Pensionfund Sabic boosted its position in shares of Home Depot by 51.4% during the 4th quarter. Pensionfund Sabic now owns 11,200 shares of the home improvement retailer's stock worth $4,357,000 after acquiring an additional 3,800 shares in the last quarter. Wedmont Private Capital increased its holdings in shares of Home Depot by 12.5% in the 4th quarter. Wedmont Private Capital now owns 13,569 shares of the home improvement retailer's stock valued at $5,291,000 after acquiring an additional 1,506 shares during the last quarter. Finally, Johnson & White Wealth Management LLC purchased a new position in shares of Home Depot in the 4th quarter valued at about $1,793,000. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

HD has been the subject of several research analyst reports. Truist Financial lowered their target price on shares of Home Depot from $467.00 to $437.00 and set a "buy" rating for the company in a report on Wednesday, February 26th. KGI Securities upgraded Home Depot to a "strong-buy" rating in a research note on Monday, March 3rd. Piper Sandler dropped their price objective on shares of Home Depot from $435.00 to $418.00 and set an "overweight" rating on the stock in a research note on Monday, March 24th. JPMorgan Chase & Co. increased their target price on shares of Home Depot from $450.00 to $475.00 and gave the stock an "overweight" rating in a research note on Monday, February 10th. Finally, Royal Bank of Canada dropped their price target on Home Depot from $431.00 to $424.00 and set a "sector perform" rating on the stock in a research report on Wednesday, February 26th. Nine investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $435.85.

Home Depot Stock Up 1.6 %

Shares of HD traded up $5.73 during trading hours on Wednesday, reaching $371.25. The company's stock had a trading volume of 3,178,686 shares, compared to its average volume of 3,446,555. The firm has a market cap of $369.03 billion, a price-to-earnings ratio of 25.22, a P/E/G ratio of 4.03 and a beta of 1.08. The company has a 50 day moving average of $388.06 and a two-hundred day moving average of $398.84. The Home Depot, Inc. has a 1-year low of $323.77 and a 1-year 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.

Home Depot (NYSE:HD - Get Free Report) last announced its earnings results on Tuesday, February 25th. The home improvement retailer reported $3.13 EPS for the quarter, topping 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 firm had revenue of $39.70 billion for the quarter, compared to the consensus estimate of $39.15 billion. During the same quarter last year, the firm posted $2.82 EPS. The business's quarterly revenue was up 14.1% on a year-over-year basis. As a group, research analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current fiscal year.

Home Depot Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were given a $2.30 dividend. This is an increase from Home Depot's previous quarterly dividend of $2.25. The ex-dividend date was Thursday, March 13th. This represents a $9.20 annualized dividend and a yield of 2.48%. Home Depot's payout ratio is presently 61.66%.

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.