Alpha Wealth Funds LLC Buys Shares of 2,695 The Home Depot, Inc. (NYSE:HD)

Alpha Wealth Funds LLC bought a new position in The Home Depot, Inc. (NYSE:HD) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,695 shares of the home improvement retailer’s stock, valued at approximately $988,000. Home Depot comprises 1.0% of Alpha Wealth Funds LLC’s portfolio, making the stock its 13th biggest holding.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Wingate Wealth Advisors Inc. bought a new position in Home Depot in the 4th quarter valued at approximately $28,000. Navigoe LLC acquired a new position in Home Depot in the 4th quarter valued at approximately $29,000. Bradley & Co. Private Wealth Management LLC bought a new position in shares of Home Depot during the fourth quarter valued at $32,000. Quarry LP lifted its holdings in shares of Home Depot by 220.0% during the fourth quarter. Quarry LP now owns 96 shares of the home improvement retailer’s stock worth $37,000 after purchasing an additional 66 shares during the period. Finally, Sellwood Investment Partners LLC bought a new stake in shares of Home Depot in the fourth quarter worth $39,000. Institutional investors own 70.86% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Jefferies Financial Group lowered their target price on Home Depot from $461.00 to $456.00 in a research report on Tuesday, May 20th. TD Securities downgraded Home Depot to a “buy” rating in a research report on Monday. Gordon Haskett lifted their price objective on Home Depot from $350.00 to $360.00 in a research note on Tuesday, May 20th. DA Davidson reduced their target price on Home Depot from $470.00 to $450.00 in a report on Tuesday, May 20th. Finally, Hsbc Global Res upgraded shares of Home Depot from a “moderate sell” rating to a “hold” rating in a report on Wednesday, February 26th. Seven equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Home Depot currently has a consensus rating of “Moderate Buy” and an average target price of $426.77.

Home Depot Stock Performance

Shares of HD opened at $373.37 on Wednesday. The stock has a 50-day moving average of $361.24 and a 200-day moving average of $385.37. The company has a market cap of $371.48 billion, a PE ratio of 25.37, a P/E/G ratio of 4.03 and a beta of 1.05. The company has a debt-to-equity ratio of 8.65, a current ratio of 1.13 and a quick ratio of 0.31. The Home Depot, Inc. has a one year low of $323.93 and a one year high of $439.37.

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

Home Depot Dividend Announcement

The firm 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 dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date is Thursday, June 5th. Home Depot’s dividend payout ratio is currently 62.42%.

Insider Activity

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

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.