Abner Herrman & Brock LLC Has $21.87 Million Stake in The Home Depot, Inc. $HD

Key Points

• Abner Herrman & Brock LLC increased its stake in The Home Depot, Inc. by 64.5%, owning 59,638 shares, which are currently valued at approximately $21.87 million.
• CEO Edward P. Decker sold 32,897 shares of Home Depot stock, reducing his ownership by 21.18% and netting over $13 million from the transaction.
• Home Depot recently announced a quarterly dividend of $2.30 per share, resulting in an annualized dividend of $9.20 and a yield of 2.2%.

Abner Herrman & Brock LLC grew its holdings in The Home Depot, Inc. (NYSE:HD - Free Report) by 64.5% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 59,638 shares of the home improvement retailer's stock after acquiring an additional 23,393 shares during the quarter. Home Depot accounts for approximately 2.4% of Abner Herrman & Brock LLC's investment portfolio, making the stock its 14th biggest position. Abner Herrman & Brock LLC's holdings in Home Depot were worth $21,866,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Home Depot by 0.8% in the first quarter. Vanguard Group Inc. now owns 96,484,199 shares of the home improvement retailer's stock valued at $35,360,494,000 after purchasing an additional 720,447 shares in the last quarter. Asset Planning Services Inc. LA ADV raised its stake in Home Depot by 99,400.7% in the first quarter. Asset Planning Services Inc. LA ADV now owns 18,975,772 shares of the home improvement retailer's stock valued at $6,954,431,000 after purchasing an additional 18,956,701 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Home Depot by 6.6% in the first quarter. Charles Schwab Investment Management Inc. now owns 14,415,278 shares of the home improvement retailer's stock valued at $5,282,398,000 after purchasing an additional 891,326 shares in the last quarter. GAMMA Investing LLC raised its stake in Home Depot by 39,194.1% in the first quarter. GAMMA Investing LLC now owns 10,236,903 shares of the home improvement retailer's stock valued at $37,517,230,000 after purchasing an additional 10,210,851 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in Home Depot by 19.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 9,253,292 shares of the home improvement retailer's stock valued at $3,391,240,000 after purchasing an additional 1,494,261 shares in 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 recently commented on HD shares. Jefferies Financial Group dropped their price target on Home Depot from $461.00 to $456.00 in a research note on Tuesday, May 20th. Morgan Stanley boosted their target price on Home Depot from $415.00 to $430.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 20th. JPMorgan Chase & Co. lowered their target price on Home Depot from $460.00 to $452.00 and set an "overweight" rating for the company in a research note on Wednesday, August 20th. Guggenheim reissued a "buy" rating and set a $450.00 target price on shares of Home Depot in a research note on Wednesday, May 21st. Finally, Truist Financial boosted their target price on Home Depot from $417.00 to $433.00 and gave the stock a "buy" rating in a research note on Wednesday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $432.52.

Insider Activity

In other Home Depot news, CEO Edward P. Decker sold 32,897 shares of the stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $397.22, for a total transaction of $13,067,346.34. Following the transaction, the chief executive officer directly owned 122,425 shares in the company, valued at approximately $48,629,658.50. This represents a 21.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Angie Brown sold 1,000 shares of the stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $404.07, for a total value of $404,070.00. Following the transaction, the executive vice president owned 3,837 shares in the company, valued at $1,550,416.59. The trade was a 20.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 48,835 shares of company stock worth $19,623,432. Company insiders own 0.10% of the company's stock.

Home Depot Trading Down 0.2%

HD stock traded down $0.84 during trading on Tuesday, hitting $421.87. The company had a trading volume of 3,724,762 shares, compared to its average volume of 3,850,394. The business has a 50-day moving average of $392.22 and a 200-day moving average of $372.74. The Home Depot, Inc. has a one year low of $326.31 and a one year high of $439.37. The stock has a market cap of $419.93 billion, a PE ratio of 28.66, a PEG ratio of 4.01 and a beta of 1.00. The company has a current ratio of 1.15, a quick ratio of 0.34 and a debt-to-equity ratio of 4.31.

Home Depot (NYSE:HD - Get Free Report) last announced its earnings results on Tuesday, August 19th. The home improvement retailer reported $4.68 EPS for the quarter, missing the consensus estimate of $4.69 by ($0.01). Home Depot had a net margin of 8.86% and a return on equity of 193.99%. The company had revenue of $45.28 billion during the quarter, compared to the consensus estimate of $45.43 billion. During the same quarter in the previous year, the company earned $4.60 earnings per share. The business's revenue was up 4.9% on a year-over-year basis. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. Research analysts predict that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th 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 2.2%. The ex-dividend date is Thursday, September 4th. Home Depot's dividend payout ratio is presently 62.50%.

About Home Depot

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.