BlueChip Wealth Advisors LLC Has $1.70 Million Stock Holdings in The Home Depot, Inc. $HD

Key Points

• BlueChip Wealth Advisors LLC decreased its stake in The Home Depot by 15.3%, holding a total of 4,643 shares worth approximately $1.70 million at the end of the second quarter.
• Several other hedge funds have adjusted their positions in Home Depot, with Members Trust Co increasing their holdings by 42.0% and Steel Grove Capital Advisors boosting theirs by 19.2% during the same period.
• Wall Street analysts have positive outlooks for Home Depot, with several firms raising their price targets, including Wells Fargo and Oppenheimer, now suggesting a target range between $420.00 and $450.00.

BlueChip Wealth Advisors LLC cut its stake in The Home Depot, Inc. (NYSE:HD - Free Report) by 15.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,643 shares of the home improvement retailer's stock after selling 840 shares during the period. BlueChip Wealth Advisors LLC's holdings in Home Depot were worth $1,702,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Parcion Private Wealth LLC raised its holdings in Home Depot by 3.1% in the 2nd quarter. Parcion Private Wealth LLC now owns 16,996 shares of the home improvement retailer's stock valued at $6,231,000 after acquiring an additional 506 shares in the last quarter. Steel Grove Capital Advisors LLC raised its holdings in Home Depot by 19.2% in the 2nd quarter. Steel Grove Capital Advisors LLC now owns 1,883 shares of the home improvement retailer's stock valued at $690,000 after acquiring an additional 303 shares in the last quarter. Members Trust Co raised its holdings in Home Depot by 42.0% in the 2nd quarter. Members Trust Co now owns 3,669 shares of the home improvement retailer's stock valued at $1,345,000 after acquiring an additional 1,086 shares in the last quarter. Family Capital Management Inc. acquired a new position in Home Depot in the 2nd quarter valued at $241,000. Finally, Benin Management CORP raised its holdings in Home Depot by 2.0% in the 2nd quarter. Benin Management CORP now owns 1,661 shares of the home improvement retailer's stock valued at $609,000 after acquiring an additional 32 shares in the last quarter. 70.86% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

HD has been the subject of several analyst reports. Wells Fargo & Company lifted their price objective on Home Depot from $420.00 to $450.00 and gave the company an "overweight" rating in a report on Wednesday, August 20th. Oppenheimer lifted their price target on Home Depot from $400.00 to $420.00 and gave the company a "market perform" rating in a research note on Thursday, September 25th. Truist Financial lifted their price target on Home Depot from $417.00 to $433.00 and gave the company a "buy" rating in a research note on Wednesday, August 13th. JPMorgan Chase & Co. decreased their price target on Home Depot from $460.00 to $452.00 and set an "overweight" rating on the stock in a research note on Wednesday, August 20th. Finally, Telsey Advisory Group reiterated an "outperform" rating and issued a $455.00 price target on shares of Home Depot in a research note on Tuesday, August 19th. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $435.42.

Insider Activity

In other Home Depot news, CEO Edward P. Decker sold 32,897 shares of Home Depot stock in a transaction dated 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 of the company's stock, valued at approximately $48,629,658.50. The trade was a 21.18% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP William D. Bastek sold 3,783 shares of Home Depot stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $410.23, for a total value of $1,551,900.09. Following the transaction, the executive vice president directly owned 24,235 shares in the company, valued at $9,941,924.05. The trade was a 13.50% 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. 0.10% of the stock is owned by corporate insiders.

Home Depot Stock Performance

NYSE:HD opened at $390.99 on Wednesday. The stock has a market cap of $389.19 billion, a P/E ratio of 26.56, a price-to-earnings-growth ratio of 3.69 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. The stock's 50-day moving average is $403.62 and its 200-day moving average is $378.45. The Home Depot, Inc. has a 1-year low of $326.31 and a 1-year high of $439.37.

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

Home Depot Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Shareholders of record on Thursday, September 4th were issued a dividend of $2.30 per share. The ex-dividend date of this dividend was Thursday, September 4th. This represents a $9.20 annualized dividend and a yield of 2.4%. Home Depot's 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.

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