Alpine Bank Wealth Management Invests $777,000 in The Home Depot, Inc. (NYSE:HD)

Alpine Bank Wealth Management purchased a new stake in shares of The Home Depot, Inc. (NYSE:HD - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 2,119 shares of the home improvement retailer's stock, valued at approximately $777,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of HD. Wealth Group Ltd. raised its holdings in Home Depot by 5.0% during the 4th quarter. Wealth Group Ltd. now owns 563 shares of the home improvement retailer's stock valued at $219,000 after buying an additional 27 shares during the last quarter. Ironwood Wealth Management LLC. boosted its holdings in Home Depot by 0.7% in the fourth quarter. Ironwood Wealth Management LLC. now owns 4,537 shares of the home improvement retailer's stock worth $1,765,000 after acquiring an additional 32 shares in the last quarter. Brighton Jones LLC grew its position in Home Depot by 36.5% during the 4th quarter. Brighton Jones LLC now owns 26,918 shares of the home improvement retailer's stock valued at $10,471,000 after purchasing an additional 7,203 shares during the last quarter. Snider Financial Group lifted its position in Home Depot by 90.7% in the 4th quarter. Snider Financial Group now owns 1,436 shares of the home improvement retailer's stock valued at $559,000 after acquiring an additional 683 shares in the last quarter. Finally, Bank Pictet & Cie Europe AG boosted its position in shares of Home Depot by 4.9% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 12,204 shares of the home improvement retailer's stock valued at $4,747,000 after buying an additional 565 shares during the last quarter. Hedge funds and other institutional investors own 70.86% of the company's stock.

Insider Activity at Home Depot

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

Home Depot Trading Up 0.5%

Shares of HD stock traded up $1.84 on Thursday, reaching $363.70. 3,184,311 shares of the company's stock were exchanged, compared to its average volume of 3,421,245. The company's fifty day simple moving average is $363.10 and its 200 day simple moving average is $378.66. The Home Depot, Inc. has a 52 week low of $326.31 and a 52 week high of $439.37. 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 market capitalization of $361.85 billion, a PE ratio of 24.67, a P/E/G ratio of 3.44 and a beta of 1.02.

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 analysts' consensus estimates of $3.59 by ($0.03). The business had revenue of $39.86 billion during the quarter, compared to analysts' expectations of $39.24 billion. Home Depot had a return on equity of 242.51% and a net margin of 8.98%. The business's revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.63 EPS. As a group, analysts forecast that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Thursday, June 5th were paid a dividend of $2.30 per share. The ex-dividend date was Thursday, June 5th. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.53%. Home Depot's dividend payout ratio is presently 62.42%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on HD shares. Gordon Haskett increased their target price on Home Depot from $350.00 to $360.00 in a report on Tuesday, May 20th. Evercore ISI set a $400.00 target price on Home Depot and gave the stock an "outperform" rating in a research report on Thursday, May 22nd. Telsey Advisory Group restated an "outperform" rating and set a $455.00 price objective on shares of Home Depot in a research report on Friday, June 20th. Hsbc Global Res upgraded Home Depot from a "moderate sell" rating to a "hold" rating in a research report on Wednesday, February 26th. Finally, Mizuho dropped their price target on Home Depot from $450.00 to $435.00 and set an "outperform" rating for the company in a research note on Wednesday, May 21st. Seven research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $426.77.

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.