Adell Harriman & Carpenter Inc. Has $23.01 Million Stake in The Home Depot, Inc. (NYSE:HD)

Adell Harriman & Carpenter Inc. boosted its position in shares of The Home Depot, Inc. (NYSE:HD) by 1.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 62,786 shares of the home improvement retailer’s stock after acquiring an additional 821 shares during the period. Home Depot accounts for 1.7% of Adell Harriman & Carpenter Inc.’s investment portfolio, making the stock its 19th biggest holding. Adell Harriman & Carpenter Inc.’s holdings in Home Depot were worth $23,011,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Wealth Management Partners LLC raised its position in shares of Home Depot by 0.6% during the first quarter. Wealth Management Partners LLC now owns 6,506 shares of the home improvement retailer’s stock valued at $2,384,000 after buying an additional 36 shares during the last quarter. Ashton Thomas Private Wealth LLC raised its position in shares of Home Depot by 19.5% during the fourth quarter. Ashton Thomas Private Wealth LLC now owns 23,758 shares of the home improvement retailer’s stock valued at $9,242,000 after buying an additional 3,873 shares during the last quarter. Arbor Capital Management Inc. ADV raised its position in shares of Home Depot by 4.8% during the first quarter. Arbor Capital Management Inc. ADV now owns 4,784 shares of the home improvement retailer’s stock valued at $1,757,000 after buying an additional 221 shares during the last quarter. Disciplined Investors L.L.C. acquired a new position in shares of Home Depot during the fourth quarter valued at about $409,000. Finally, ARS Wealth Advisors Group LLC raised its position in shares of Home Depot by 0.8% during the first quarter. ARS Wealth Advisors Group LLC now owns 31,728 shares of the home improvement retailer’s stock valued at $11,628,000 after buying an additional 239 shares during the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Royal Bank Of Canada cut their price objective on shares of Home Depot from $424.00 to $399.00 and set a “sector perform” rating for the company in a research report on Thursday, May 15th. Stifel Nicolaus raised shares of Home Depot from a “hold” rating to a “buy” rating and upped their target price for the company from $405.00 to $425.00 in a research note on Wednesday, May 21st. Robert W. Baird lowered their target price on shares of Home Depot from $430.00 to $425.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 21st. Piper Sandler lowered their target price 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. Finally, Sanford C. Bernstein reissued a “market perform” rating and issued a $398.00 target price (up previously from $380.00) on shares of Home Depot in a research note on Wednesday, May 21st. Seven analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $426.77.

Insiders Place Their Bets

In other news, EVP Fahim Siddiqui sold 2,600 shares of the business’s stock in a transaction 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 owned 7,951 shares in the company, valued at $2,919,130.14. The trade was a 24.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Teresa Wynn Roseborough sold 5,406 shares of the business’s stock in a transaction 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 owned 17,367 shares of the company’s stock, valued at approximately $6,413,285.76. The trade was a 23.74% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.10% of the company’s stock.

Home Depot Price Performance

Shares of Home Depot stock opened at $371.36 on Friday. The company has a current ratio of 1.09, a quick ratio of 0.28 and a debt-to-equity ratio of 5.95. The stock has a market capitalization of $369.47 billion, a price-to-earnings ratio of 25.19, a P/E/G ratio of 3.53 and a beta of 1.00. The Home Depot, Inc. has a 1-year low of $326.31 and a 1-year high of $439.37. The firm’s 50-day moving average price is $365.14 and its two-hundred day moving average price is $376.33.

Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share for the quarter, missing the consensus estimate of $3.59 by ($0.03). Home Depot had a return on equity of 242.51% and a net margin of 8.98%. The company had revenue of $39.86 billion during the quarter, compared to the consensus estimate of $39.24 billion. During the same quarter last year, the firm earned $3.63 EPS. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. On average, equities analysts predict that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Thursday, June 5th were given a dividend of $2.30 per share. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.48%. Home Depot’s payout ratio is currently 62.42%.

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.