Alpha Cubed Investments LLC Sells 2,395 Shares of The Home Depot, Inc. (NYSE:HD)

Alpha Cubed Investments LLC lessened its position in shares of The Home Depot, Inc. (NYSE:HD) by 6.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,933 shares of the home improvement retailer’s stock after selling 2,395 shares during the quarter. Alpha Cubed Investments LLC’s holdings in Home Depot were worth $11,413,000 as of its most recent SEC filing.

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

Insider Activity

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

Home Depot Stock Down 0.8 %

Home Depot stock traded down $2.57 during mid-day trading on Tuesday, hitting $334.23. The company’s stock had a trading volume of 3,088,022 shares, compared to its average volume of 3,341,935. The firm’s 50 day moving average is $364.25 and its 200 day moving average is $341.58. The company has a market cap of $331.23 billion, a PE ratio of 22.20, 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 current ratio of 1.35 and a quick ratio of 0.40. The Home Depot, Inc. has a 52-week low of $274.26 and a 52-week high of $396.87.

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

Home Depot Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Thursday, March 7th were issued a dividend of $2.25 per share. This is a positive change from Home Depot’s previous quarterly dividend of $2.09. The ex-dividend date of this dividend was Wednesday, March 6th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.69%. Home Depot’s dividend payout ratio is currently 59.60%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Citigroup lifted their target price on Home Depot from $333.00 to $415.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. Bank of America boosted their price target on Home Depot from $400.00 to $425.00 and gave the stock a “buy” rating in a research report on Monday, April 1st. Truist Financial reissued a “buy” rating and issued a $417.00 price target on shares of Home Depot in a research report on Wednesday, April 17th. Barclays raised Home Depot from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $325.00 to $372.00 in a research report on Thursday, January 4th. Finally, Guggenheim reissued a “buy” rating and issued a $390.00 price target on shares of Home Depot in a research report on Friday, April 5th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nineteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Home Depot has a consensus rating of “Moderate Buy” and a consensus price target of $375.96.

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.