Parallel Advisors LLC Has $11.18 Million Stock Holdings in The Home Depot, Inc. $HD

Key Points

• Parallel Advisors LLC increased its stake in The Home Depot by 4.2%, now holding 30,501 shares valued at approximately $11.18 million.
• Multiple analysts have upgraded their price targets to $450 for Home Depot, with the stock receiving a consensus rating of "Moderate Buy".
• CEO Edward P. Decker and EVP William D. Bastek recently sold shares, indicating a decrease in insider ownership as they sold portions of their stakes in the company.

Parallel Advisors LLC lifted its position in The Home Depot, Inc. (NYSE:HD - Free Report) by 4.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,501 shares of the home improvement retailer's stock after acquiring an additional 1,216 shares during the quarter. Parallel Advisors LLC's holdings in Home Depot were worth $11,183,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Trust Co. of Oklahoma grew its stake in shares of Home Depot by 1.1% in the 2nd quarter. Trust Co. of Oklahoma now owns 7,676 shares of the home improvement retailer's stock worth $2,814,000 after acquiring an additional 83 shares in the last quarter. Wealth Alliance Advisory Group LLC grew its position in Home Depot by 14.9% during the second quarter. Wealth Alliance Advisory Group LLC now owns 7,095 shares of the home improvement retailer's stock valued at $2,601,000 after buying an additional 921 shares during the period. Teamwork Financial Advisors LLC lifted its holdings in Home Depot by 44.6% during the second quarter. Teamwork Financial Advisors LLC now owns 940 shares of the home improvement retailer's stock valued at $345,000 after purchasing an additional 290 shares during the last quarter. Accelerate Investment Advisors LLC purchased a new stake in Home Depot during the second quarter valued at about $339,000. Finally, Capital Asset Advisory Services LLC lifted its holdings in Home Depot by 3.6% during the second quarter. Capital Asset Advisory Services LLC now owns 19,751 shares of the home improvement retailer's stock valued at $7,370,000 after purchasing an additional 683 shares during the last quarter. Institutional investors own 70.86% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Guggenheim reaffirmed a "buy" rating and set a $450.00 price objective on shares of Home Depot in a report on Wednesday, May 21st. Mizuho upped their price objective on shares of Home Depot from $435.00 to $450.00 and gave the company an "outperform" rating in a report on Wednesday, August 20th. Robert W. Baird upped their price objective on shares of Home Depot from $425.00 to $450.00 and gave the company an "outperform" rating in a report on Wednesday, August 20th. JPMorgan Chase & Co. dropped their price objective on shares of Home Depot from $460.00 to $452.00 and set an "overweight" rating on the stock in a report on Wednesday, August 20th. Finally, Wells Fargo & Company raised their price objective on shares of Home Depot from $420.00 to $450.00 and gave the company an "overweight" rating in a research report on Wednesday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $432.52.

Insiders Place Their Bets

In related news, CEO Edward P. Decker sold 32,897 shares of Home Depot stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $397.22, for a total value of $13,067,346.34. Following the sale, the chief executive officer owned 122,425 shares in the company, valued at $48,629,658.50. The trade was a 21.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP William D. Bastek sold 3,783 shares of the business's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $410.23, for a total transaction of $1,551,900.09. Following the sale, the executive vice president owned 24,235 shares in the company, valued at approximately $9,941,924.05. This trade represents a 13.50% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 46,532 shares of company stock valued at $18,648,987 over the last quarter. 0.10% of the stock is owned by company insiders.

Home Depot Trading Down 0.0%

HD stock opened at $423.33 on Monday. The company has a market capitalization of $421.38 billion, a PE ratio of 28.76, a price-to-earnings-growth ratio of 4.01 and a beta of 1.00. The Home Depot, Inc. has a one year low of $326.31 and a one year high of $439.37. The company's 50 day moving average price is $390.03 and its two-hundred day moving average price is $372.22. The company has a debt-to-equity ratio of 4.31, a quick ratio of 0.34 and a current ratio of 1.15.

Home Depot (NYSE:HD - Get Free Report) last posted 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 return on equity of 193.99% and a net margin of 8.86%.The business had revenue of $45.28 billion for the quarter, compared to analysts' expectations of $45.43 billion. During the same period last year, the business posted $4.60 earnings per share. The company's 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. As a group, analysts predict that The Home Depot, Inc. will post 15.13 earnings per share for the current fiscal year.

Home Depot Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 18th. Investors of record on Thursday, September 4th will be issued a $2.30 dividend. The ex-dividend date is Thursday, September 4th. This represents a $9.20 annualized dividend and a yield of 2.2%. Home Depot's payout ratio is 62.50%.

Home Depot Company 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.

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