Bridgewealth Advisory Group LLC Makes New $545,000 Investment in The Home Depot, Inc. (NYSE:HD)

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

A number of other institutional investors have also recently bought and sold shares of HD. Norges Bank acquired a new position in shares of Home Depot during the 4th quarter worth about $5,032,910,000. Raymond James Financial Inc. bought a new stake in shares of Home Depot in the 4th quarter valued at approximately $2,212,546,000. Proficio Capital Partners LLC grew its stake in shares of Home Depot by 21,394.9% in the 4th quarter. Proficio Capital Partners LLC now owns 2,039,862 shares of the home improvement retailer's stock valued at $793,486,000 after purchasing an additional 2,030,372 shares during the period. Northern Trust Corp grew its stake in shares of Home Depot by 13.3% in the 4th quarter. Northern Trust Corp now owns 12,149,890 shares of the home improvement retailer's stock valued at $4,726,186,000 after purchasing an additional 1,424,857 shares during the period. Finally, Vanguard Group Inc. grew its stake in shares of Home Depot by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 95,763,752 shares of the home improvement retailer's stock valued at $37,251,142,000 after purchasing an additional 875,836 shares during the period. Institutional investors and hedge funds own 70.86% of the company's stock.

Home Depot Stock Down 0.6 %

NYSE HD traded down $2.30 during trading on Thursday, hitting $358.19. The stock had a trading volume of 3,206,798 shares, compared to its average volume of 3,464,074. The company has a market capitalization of $356.05 billion, a PE ratio of 24.33, a P/E/G ratio of 4.03 and a beta of 1.09. The company's 50-day moving average price is $361.56 and its two-hundred day moving average price is $390.89. The company has a debt-to-equity ratio of 8.65, a quick ratio of 0.31 and a current ratio of 1.13. The Home Depot, Inc. has a 12 month low of $323.77 and a 12 month high of $439.37.

Home Depot (NYSE:HD - Get Free Report) last announced its quarterly earnings data on Tuesday, February 25th. The home improvement retailer reported $3.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.04 by $0.09. Home Depot had a return on equity of 452.60% and a net margin of 9.45%. The company had revenue of $39.70 billion for the quarter, compared to analysts' expectations of $39.15 billion. During the same quarter in the prior year, the business posted $2.82 EPS. The business's revenue was up 14.1% compared to the same quarter last year. As a group, sell-side analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were issued a dividend of $2.30 per share. The ex-dividend date was Thursday, March 13th. This is a positive change from Home Depot's previous quarterly dividend of $2.25. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.57%. Home Depot's payout ratio is presently 61.66%.

Wall Street Analysts Forecast Growth

HD has been the topic of several recent analyst reports. Telsey Advisory Group reissued an "outperform" rating and issued a $455.00 target price on shares of Home Depot in a report on Wednesday, February 26th. JPMorgan Chase & Co. lifted their price objective on Home Depot from $450.00 to $475.00 and gave the stock an "overweight" rating in a research report on Monday, February 10th. Piper Sandler lowered their price objective on Home Depot from $435.00 to $418.00 and set an "overweight" rating for the company in a research report on Monday, March 24th. Hsbc Global Res upgraded Home Depot from a "moderate sell" rating to a "hold" rating in a research report on Wednesday, February 26th. Finally, KGI Securities upgraded Home Depot to a "strong-buy" rating in a research report on Monday, March 3rd. Ten equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target 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.