Palacios Wealth Management LLC Buys New Shares in The Home Depot, Inc. $HD

Key Points

• Palacios Wealth Management LLC purchased 1,011 shares of The Home Depot, Inc., valued at approximately $371,000 during the 2nd quarter.
• Institutional investors currently own 70.86% of Home Depot's stock, indicating strong interest from major investment firms.
• Home Depot announced a quarterly dividend of $2.30 per share, reflecting its commitment to returning value to shareholders.

Palacios Wealth Management LLC acquired a new position in The Home Depot, Inc. (NYSE:HD - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,011 shares of the home improvement retailer's stock, valued at approximately $371,000.

Other institutional investors have also recently made changes to their positions in the company. Avanza Fonder AB boosted its position in Home Depot by 0.5% in the second quarter. Avanza Fonder AB now owns 97,308 shares of the home improvement retailer's stock worth $35,677,000 after purchasing an additional 450 shares during the last quarter. Matrix Trust Co boosted its position in Home Depot by 4.0% during the second quarter. Matrix Trust Co now owns 5,614 shares of the home improvement retailer's stock valued at $2,058,000 after purchasing an additional 214 shares in the last quarter. Sowell Financial Services LLC raised its stake in shares of Home Depot by 25.1% in the second quarter. Sowell Financial Services LLC now owns 17,281 shares of the home improvement retailer's stock worth $6,336,000 after purchasing an additional 3,465 shares during the last quarter. Petredis Investment Advisors LLC increased its position in shares of Home Depot by 1.1% in the second quarter. Petredis Investment Advisors LLC now owns 27,944 shares of the home improvement retailer's stock valued at $10,245,000 after buying an additional 300 shares in the last quarter. Finally, Annex Advisory Services LLC boosted its stake in Home Depot by 3.8% during the second quarter. Annex Advisory Services LLC now owns 21,536 shares of the home improvement retailer's stock worth $7,896,000 after buying an additional 796 shares during the last quarter. Hedge funds and other institutional investors own 70.86% of the company's stock.

Insider Buying and Selling

In other Home Depot news, EVP Angie Brown sold 1,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $404.07, for a total value of $404,070.00. Following the sale, the executive vice president owned 3,837 shares of the company's stock, valued at $1,550,416.59. This trade represents a 20.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Richard V. Mcphail sold 3,369 shares of the business's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $403.66, for a total value of $1,359,930.54. Following the sale, the chief financial officer owned 45,455 shares of the company's stock, valued at approximately $18,348,365.30. The trade was a 6.90% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 48,835 shares of company stock worth $19,623,432. 0.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. JPMorgan Chase & Co. dropped 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. Morgan Stanley boosted their price target on Home Depot from $415.00 to $430.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 20th. Mizuho upped their target price on Home Depot from $435.00 to $450.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 20th. TD Securities downgraded shares of Home Depot to a "buy" rating in a research note on Monday, June 2nd. Finally, Telsey Advisory Group reaffirmed an "outperform" rating and set a $455.00 price objective on shares of Home Depot in a report on Tuesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $435.00.

Home Depot Stock Performance

NYSE HD traded down $2.83 during trading hours on Monday, hitting $412.86. 2,655,518 shares of the company's stock traded hands, compared to its average volume of 3,792,485. The firm has a market capitalization of $410.96 billion, a P/E ratio of 28.05, a P/E/G ratio of 3.94 and a beta of 1.00. The business's fifty day moving average price is $395.79 and its two-hundred day moving average price is $373.58. 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 Home Depot, Inc. has a 52 week low of $326.31 and a 52 week 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 EPS for the quarter, missing the consensus estimate of $4.69 by ($0.01). Home Depot had a net margin of 8.86% and a return on equity of 193.99%. The firm had revenue of $45.28 billion for the quarter, compared to analysts' expectations of $45.43 billion. During the same period in the previous year, the company posted $4.60 earnings per share. The business's quarterly revenue was up 4.9% compared to the same quarter last year. Home Depot has set its FY 2025 guidance at 14.940-14.940 EPS. Equities research analysts predict that The Home Depot, Inc. will post 15.13 EPS for the current year.

Home Depot Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, September 18th. Investors of record on Thursday, September 4th were issued a dividend of $2.30 per share. This represents a $9.20 annualized dividend and a dividend yield of 2.2%. The ex-dividend date was Thursday, September 4th. Home Depot's dividend payout ratio (DPR) is presently 62.50%.

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.