Bridgewealth Advisory Group LLC Acquires Shares of 1,321 The Home Depot, Inc. (NYSE:HD)

Bridgewealth Advisory Group LLC bought a new position in shares of The Home Depot, Inc. (NYSE:HD) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,321 shares of the home improvement retailer’s stock, valued at approximately $545,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Synergy Asset Management LLC bought a new position in Home Depot during the fourth quarter worth about $26,000. Wingate Wealth Advisors Inc. acquired a new position in shares of Home Depot during the 4th quarter worth approximately $28,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in shares of Home Depot in the fourth quarter valued at approximately $32,000. Quarry LP boosted its stake in shares of Home Depot by 220.0% in the fourth quarter. Quarry LP now owns 96 shares of the home improvement retailer’s stock valued at $37,000 after buying an additional 66 shares during the period. Finally, Sellwood Investment Partners LLC acquired a new stake in Home Depot during the fourth quarter worth approximately $39,000. Institutional investors own 70.86% of the company’s stock.

Home Depot Price Performance

Shares of HD opened at $359.05 on Wednesday. The business’s fifty day moving average is $362.50 and its 200 day moving average is $391.50. The Home Depot, Inc. has a 12-month low of $323.77 and a 12-month 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 stock has a market cap of $356.91 billion, a P/E ratio of 24.39, a P/E/G ratio of 4.03 and a beta of 1.09.

Home Depot (NYSE:HD) last released its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $39.15 billion. During the same period last year, the firm earned $2.82 earnings per share. The business’s quarterly revenue was up 14.1% compared to the same quarter last year. Sell-side analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were issued a $2.30 dividend. The ex-dividend date was Thursday, March 13th. This represents a $9.20 annualized dividend and a dividend yield of 2.56%. This is an increase from Home Depot’s previous quarterly dividend of $2.25. Home Depot’s dividend payout ratio is currently 61.66%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Wells Fargo & Company increased their price objective on shares of Home Depot from $440.00 to $450.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Royal Bank of Canada lowered their price target on shares of Home Depot from $431.00 to $424.00 and set a “sector perform” rating for the company in a report on Wednesday, February 26th. Telsey Advisory Group reissued an “outperform” rating and set a $455.00 price objective on shares of Home Depot in a report on Wednesday, February 26th. JPMorgan Chase & Co. increased their target price on Home Depot from $450.00 to $475.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Finally, KGI Securities upgraded Home Depot to a “strong-buy” rating in a report on Monday, March 3rd. Ten analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Home Depot has an average rating of “Moderate Buy” and a consensus target price of $434.08.

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.