Adell Harriman & Carpenter Inc. Acquires 30 Shares of The Home Depot, Inc. (NYSE:HD)

Adell Harriman & Carpenter Inc. grew its holdings in The Home Depot, Inc. (NYSE:HD) by 0.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 64,246 shares of the home improvement retailer’s stock after purchasing an additional 30 shares during the period. Home Depot makes up about 2.1% of Adell Harriman & Carpenter Inc.’s portfolio, making the stock its 13th biggest position. Adell Harriman & Carpenter Inc.’s holdings in Home Depot were worth $22,265,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of HD. Northern Trust Corp grew its holdings in shares of Home Depot by 1.3% during the third quarter. Northern Trust Corp now owns 12,347,396 shares of the home improvement retailer’s stock worth $3,730,889,000 after purchasing an additional 153,141 shares during the last quarter. International Assets Investment Management LLC increased its position in Home Depot by 12,647.4% in the 4th quarter. International Assets Investment Management LLC now owns 5,569,482 shares of the home improvement retailer’s stock valued at $1,930,104,000 after acquiring an additional 5,525,791 shares during the period. Jennison Associates LLC raised its stake in shares of Home Depot by 38.4% during the fourth quarter. Jennison Associates LLC now owns 4,347,596 shares of the home improvement retailer’s stock valued at $1,506,659,000 after acquiring an additional 1,207,388 shares during the last quarter. California Public Employees Retirement System lifted its holdings in shares of Home Depot by 11.3% during the third quarter. California Public Employees Retirement System now owns 3,418,400 shares of the home improvement retailer’s stock worth $1,032,904,000 after purchasing an additional 346,641 shares during the period. Finally, Stifel Financial Corp grew its stake in shares of Home Depot by 0.7% in the third quarter. Stifel Financial Corp now owns 2,483,454 shares of the home improvement retailer’s stock worth $750,448,000 after purchasing an additional 17,224 shares during the last quarter. 70.86% of the stock is currently owned by institutional investors.

Home Depot Stock Up 0.5 %

NYSE:HD traded up $1.71 on Monday, hitting $336.80. The stock had a trading volume of 2,433,169 shares, compared to its average volume of 3,343,599. The stock has a market cap of $333.78 billion, a P/E ratio of 22.30, a price-to-earnings-growth ratio of 2.23 and a beta of 0.98. The company has a debt-to-equity ratio of 40.94, a quick ratio of 0.40 and a current ratio of 1.35. The firm’s fifty day simple moving average is $364.77 and its two-hundred day simple moving average is $341.27. The Home Depot, Inc. has a 1 year low of $274.26 and a 1 year high of $396.87.

Home Depot (NYSE:HD) last announced its quarterly earnings data on Tuesday, February 20th. The home improvement retailer reported $2.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.77 by $0.05. The firm had revenue of $34.79 billion during the quarter, compared to the consensus estimate of $34.64 billion. Home Depot had a return on equity of 1,452.22% and a net margin of 9.92%. The business’s revenue for the quarter was down 2.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.30 EPS. Analysts predict that The Home Depot, Inc. will post 15.37 earnings per share for the current year.

Home Depot Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Thursday, March 7th were paid a dividend of $2.25 per share. The ex-dividend date was Wednesday, March 6th. This represents a $9.00 annualized dividend and a dividend yield of 2.67%. This is a positive change from Home Depot’s previous quarterly dividend of $2.09. Home Depot’s dividend payout ratio (DPR) is presently 59.60%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Piper Sandler raised Home Depot from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $311.00 to $400.00 in a research note on Tuesday, January 16th. Royal Bank of Canada increased their price objective on shares of Home Depot from $299.00 to $377.00 and gave the stock a “sector perform” rating in a research report on Monday, February 26th. Wedbush boosted their target price on shares of Home Depot from $380.00 to $410.00 and gave the company an “outperform” rating in a report on Monday, April 1st. Barclays raised Home Depot from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $325.00 to $372.00 in a research report on Thursday, January 4th. Finally, Bank of America upped their target price on Home Depot from $400.00 to $425.00 and gave the company a “buy” rating in a research report on Monday, April 1st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nineteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $375.96.

Insider Buying and Selling

In related news, EVP Timothy A. Hourigan sold 8,996 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $368.74, for a total value of $3,317,185.04. Following the sale, the executive vice president now directly owns 75,799 shares in the company, valued at approximately $27,950,123.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Timothy A. Hourigan sold 8,996 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $368.74, for a total value of $3,317,185.04. Following the completion of the transaction, the executive vice president now directly owns 75,799 shares of the company’s stock, valued at $27,950,123.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Edward P. Decker sold 35,987 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $368.63, for a total value of $13,265,887.81. Following the sale, the chief executive officer now owns 107,731 shares in the company, valued at $39,712,878.53. The disclosure for this sale can be found here. 0.10% of the stock is currently owned by insiders.

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.