Avantax Advisory Services Inc. Has $22.98 Million Stake in The Home Depot, Inc. (NYSE:HD)

Avantax Advisory Services Inc. lifted its holdings in shares of The Home Depot, Inc. (NYSE:HD) by 0.7% in the 1st quarter, Holdings Channel reports. The institutional investor owned 59,899 shares of the home improvement retailer’s stock after acquiring an additional 395 shares during the period. Avantax Advisory Services Inc.’s holdings in Home Depot were worth $22,977,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Bey Douglas LLC bought a new position in Home Depot in the fourth quarter valued at approximately $913,000. Hartline Investment Corp lifted its stake in Home Depot by 3.0% in the fourth quarter. Hartline Investment Corp now owns 15,574 shares of the home improvement retailer’s stock valued at $5,397,000 after buying an additional 460 shares in the last quarter. Wolf Group Capital Advisors lifted its stake in Home Depot by 6.1% in the fourth quarter. Wolf Group Capital Advisors now owns 7,513 shares of the home improvement retailer’s stock valued at $2,604,000 after buying an additional 430 shares in the last quarter. Alliance Wealth Management Group bought a new position in Home Depot in the fourth quarter valued at approximately $253,000. Finally, Zullo Investment Group Inc. lifted its stake in Home Depot by 6.6% in the fourth quarter. Zullo Investment Group Inc. now owns 8,153 shares of the home improvement retailer’s stock valued at $2,826,000 after buying an additional 504 shares in the last quarter. Institutional investors and hedge funds own 70.86% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on HD. Wedbush reaffirmed an “outperform” rating and issued a $410.00 price target on shares of Home Depot in a research note on Friday, May 10th. HSBC cut their price objective on shares of Home Depot from $323.00 to $318.00 and set a “reduce” rating on the stock in a research report on Wednesday, May 15th. Evercore ISI boosted their price objective on shares of Home Depot from $415.00 to $420.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 14th. Raymond James reissued a “market perform” rating on shares of Home Depot in a research report on Wednesday, May 15th. Finally, DA Davidson raised shares of Home Depot from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $352.00 to $395.00 in a research report on Wednesday, June 26th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $380.58.

Home Depot Stock Performance

Shares of Home Depot stock traded up $10.67 during trading on Tuesday, reaching $369.13. The company’s stock had a trading volume of 3,209,259 shares, compared to its average volume of 3,437,104. The business’s 50-day moving average price is $339.85 and its 200-day moving average price is $352.22. The firm has a market cap of $366.03 billion, a PE ratio of 24.76, a P/E/G ratio of 2.48 and a beta of 0.99. The Home Depot, Inc. has a 52 week low of $274.26 and a 52 week high of $396.87. The company has a quick ratio of 0.42, a current ratio of 1.34 and a debt-to-equity ratio of 23.11.

Home Depot (NYSE:HD) last posted its quarterly earnings data on Tuesday, May 14th. The home improvement retailer reported $3.63 earnings per share for the quarter, topping the consensus estimate of $3.61 by $0.02. Home Depot had a net margin of 9.79% and a return on equity of 1,056.67%. The business had revenue of $36.42 billion during the quarter, compared to analysts’ expectations of $36.65 billion. During the same quarter in the prior year, the business posted $3.82 earnings per share. Home Depot’s revenue was down 2.3% compared to the same quarter last year. Equities analysts forecast that The Home Depot, Inc. will post 15.28 earnings per share for the current year.

Home Depot Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Stockholders of record on Thursday, May 30th were issued a $2.25 dividend. The ex-dividend date of this dividend was Thursday, May 30th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.44%. Home Depot’s dividend payout ratio (DPR) is currently 60.36%.

Insider Transactions at Home Depot

In other news, EVP Matt Carey sold 56,008 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $345.18, for a total value of $19,332,841.44. Following the completion of the transaction, the executive vice president now owns 33,325 shares of the company’s stock, valued at $11,503,123.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.10% of the company’s stock.

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.