Alpha Cubed Investments LLC Has $24.38 Million Stock Position in The Home Depot, Inc. (NYSE:HD)

Alpha Cubed Investments LLC grew its holdings in The Home Depot, Inc. (NYSE:HD - Free Report) by 12.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 66,523 shares of the home improvement retailer's stock after purchasing an additional 7,526 shares during the period. Alpha Cubed Investments LLC's holdings in Home Depot were worth $24,380,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in HD. Brighton Jones LLC increased its holdings in Home Depot by 36.5% in the fourth quarter. Brighton Jones LLC now owns 26,918 shares of the home improvement retailer's stock worth $10,471,000 after buying an additional 7,203 shares during the last quarter. Bank Pictet & Cie Europe AG increased its holdings in Home Depot by 4.9% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 12,204 shares of the home improvement retailer's stock worth $4,747,000 after buying an additional 565 shares during the last quarter. Proficio Capital Partners LLC increased its holdings in Home Depot by 11.1% in the fourth quarter. Proficio Capital Partners LLC now owns 10,545 shares of the home improvement retailer's stock worth $4,102,000 after buying an additional 1,055 shares during the last quarter. Rialto Wealth Management LLC acquired a new stake in shares of Home Depot in the 4th quarter valued at $261,000. Finally, Coordinated Financial Services Inc. bought a new stake in Home Depot in the fourth quarter worth $1,001,000. Institutional investors and hedge funds own 70.86% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Stifel Nicolaus upgraded shares of Home Depot from a "hold" rating to a "buy" rating and upped their price objective for the stock from $405.00 to $425.00 in a report on Wednesday, May 21st. Morgan Stanley reaffirmed an "overweight" rating and set a $415.00 target price (up previously from $410.00) on shares of Home Depot in a research report on Tuesday, May 20th. TD Securities cut Home Depot to a "buy" rating in a research report on Monday, June 2nd. Guggenheim reaffirmed a "buy" rating and set a $450.00 target price on shares of Home Depot in a research report on Wednesday, May 21st. Finally, DA Davidson decreased their target price on Home Depot from $470.00 to $450.00 in a research report on Tuesday, May 20th. Seven 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 company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $426.77.

Home Depot Stock Performance

HD stock traded down $4.17 during midday trading on Monday, hitting $367.51. The stock had a trading volume of 3,431,640 shares, compared to its average volume of 3,438,170. The company has a current ratio of 1.09, a quick ratio of 0.28 and a debt-to-equity ratio of 5.95. The stock has a 50-day simple moving average of $365.14 and a 200 day simple moving average of $376.15. The Home Depot, Inc. has a 52 week low of $326.31 and a 52 week high of $439.37. The firm has a market capitalization of $365.65 billion, a price-to-earnings ratio of 24.93, a P/E/G ratio of 3.53 and a beta of 1.00.

Home Depot (NYSE:HD - Get Free Report) last issued its quarterly earnings data on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.59 by ($0.03). The company had revenue of $39.86 billion for the quarter, compared to the consensus estimate of $39.24 billion. Home Depot had a net margin of 8.98% and a return on equity of 242.51%. The firm's revenue was up 9.4% compared to the same quarter last year. During the same period in the previous year, the business posted $3.63 earnings per share. As a group, equities research analysts anticipate that The Home Depot, Inc. will post 15.13 earnings per share for the current year.

Home Depot Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Thursday, June 5th were issued a dividend of $2.30 per share. The ex-dividend date of this dividend was Thursday, June 5th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.50%. Home Depot's payout ratio is presently 62.42%.

Insiders Place Their Bets

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

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.