The Home Depot, Inc. (NYSE:HD) Position Boosted by AlphaCore Capital LLC

Key Points

• AlphaCore Capital LLC increased its holdings in Home Depot by 105.8% during the first quarter, owning 17,384 shares valued at approximately $6.37 million.
• Institutional ownership of Home Depot is significant, with 70.86% of the stock held by institutional investors and hedge funds.
• The Home Depot reported a miss on earnings expectations for the last quarter, posting $3.56 EPS against analyst estimates of $3.59 EPS, despite a revenue increase to $39.86 billion.

AlphaCore Capital LLC boosted its position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) by 105.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,384 shares of the home improvement retailer's stock after acquiring an additional 8,937 shares during the period. AlphaCore Capital LLC's holdings in Home Depot were worth $6,371,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in HD. Financial Gravity Asset Management Inc. purchased a new stake in Home Depot in the 1st quarter valued at $406,000. Wealth Management Partners LLC raised its position in Home Depot by 0.6% during the 1st quarter. Wealth Management Partners LLC now owns 6,506 shares of the home improvement retailer's stock worth $2,384,000 after buying an additional 36 shares during the last quarter. Arbor Capital Management Inc. ADV raised its position in Home Depot by 4.8% during the 1st quarter. Arbor Capital Management Inc. ADV now owns 4,784 shares of the home improvement retailer's stock worth $1,757,000 after buying an additional 221 shares during the last quarter. ARS Wealth Advisors Group LLC raised its position in Home Depot by 0.8% during the 1st quarter. ARS Wealth Advisors Group LLC now owns 31,728 shares of the home improvement retailer's stock worth $11,628,000 after buying an additional 239 shares during the last quarter. Finally, Tabor Asset Management LP purchased a new position in Home Depot during the 1st quarter worth $5,886,000. Institutional investors and hedge funds own 70.86% of the company's stock.

Analyst Ratings Changes

A number of brokerages have commented on HD. Guggenheim restated a "buy" rating and set a $450.00 price objective on shares of Home Depot in a research report on Wednesday, May 21st. Mizuho cut their price objective on shares of Home Depot from $450.00 to $435.00 and set an "outperform" rating for the company in a research report on Wednesday, May 21st. Robert W. Baird lowered their price target on shares of Home Depot from $430.00 to $425.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 21st. DA Davidson lowered their price target on shares of Home Depot from $470.00 to $450.00 in a research note on Tuesday, May 20th. Finally, Evercore ISI set a $400.00 price target on shares of Home Depot and gave the stock an "outperform" rating in a research note on Thursday, May 22nd. Seven equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Home Depot presently has a consensus rating of "Moderate Buy" and an average target price of $426.77.

Insider Activity

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

Home Depot Stock Up 0.4%

Shares of HD traded up $1.60 during mid-day trading on Friday, reaching $387.77. 2,326,668 shares of the stock traded hands, compared to its average volume of 3,127,176. The firm has a market cap of $385.80 billion, a price-to-earnings ratio of 26.31, a P/E/G ratio of 3.69 and a beta of 1.00. The stock has a fifty day simple moving average of $367.64 and a 200 day simple moving average of $372.26. The Home Depot, Inc. has a 12-month low of $326.31 and a 12-month high of $439.37. The company has a quick ratio of 0.28, a current ratio of 1.09 and a debt-to-equity ratio of 5.95.

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

Home Depot Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Thursday, June 5th were given a $2.30 dividend. The ex-dividend date was Thursday, June 5th. This represents a $9.20 annualized dividend and a yield of 2.4%. Home Depot's payout ratio is 62.42%.

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.