Azzad Asset Management Inc. ADV Takes $268,000 Position in The Home Depot, Inc. (NYSE:HD)

Azzad Asset Management Inc. ADV purchased a new position in shares of The Home Depot, Inc. (NYSE:HD - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 730 shares of the home improvement retailer's stock, valued at approximately $268,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank bought a new position in shares of Home Depot in the 4th quarter valued at $5,032,910,000. GAMMA Investing LLC grew its position in Home Depot by 39,194.1% during the 1st quarter. GAMMA Investing LLC now owns 10,236,903 shares of the home improvement retailer's stock worth $37,517,230,000 after acquiring an additional 10,210,851 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Home Depot in the 4th quarter worth about $2,212,546,000. Proficio Capital Partners LLC raised its position in Home Depot by 21,394.9% in the fourth 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 last quarter. Finally, Northern Trust Corp boosted its stake in shares of Home Depot by 13.3% during the fourth 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 in the last quarter. 70.86% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Piper Sandler reduced their target price on shares of Home Depot from $435.00 to $418.00 and set an "overweight" rating on the stock in a report on Monday, March 24th. HSBC upgraded Home Depot from a "reduce" rating to a "hold" rating and increased their price objective for the company from $356.00 to $410.00 in a report on Wednesday, February 26th. Robert W. Baird cut their target price on Home Depot from $430.00 to $425.00 and set an "outperform" rating on the stock in a report on Wednesday, May 21st. DA Davidson decreased their price target on Home Depot from $470.00 to $450.00 in a research note on Tuesday, May 20th. Finally, Stifel Nicolaus raised Home Depot from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $405.00 to $425.00 in a research note on Wednesday, May 21st. Seven investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $426.77.

Insider Buying and Selling

In other Home Depot news, EVP Teresa Wynn Roseborough sold 5,406 shares of Home Depot 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 of the company's stock, valued at $6,413,285.76. This trade represents a 23.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Fahim Siddiqui sold 2,600 shares of the company's 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 transaction, the executive vice president now directly owns 7,951 shares of the company's stock, valued at approximately $2,919,130.14. This represents a 24.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.10% of the stock is owned by corporate insiders.

Home Depot Stock Down 0.3%

HD stock traded down $1.07 during midday trading on Monday, reaching $353.59. 3,675,702 shares of the company's stock traded hands, compared to its average volume of 3,409,904. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The Home Depot, Inc. has a 52 week low of $326.31 and a 52 week high of $439.37. The company has a market cap of $351.79 billion, a price-to-earnings ratio of 24.02, a P/E/G ratio of 4.03 and a beta of 1.02. The firm's fifty day moving average price is $362.73 and its 200-day moving average price is $382.18.

Home Depot (NYSE:HD - Get Free Report) last announced its earnings results on Tuesday, May 20th. The home improvement retailer reported $3.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.59 by ($0.03). The company had revenue of $39.86 billion for the quarter, compared to analysts' expectations of $39.24 billion. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm's quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the firm earned $3.63 EPS. As a group, sell-side analysts forecast that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Thursday, June 5th will be given a dividend of $2.30 per share. This represents a $9.20 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date is Thursday, June 5th. Home Depot's payout ratio is currently 62.42%.

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.