Octavia Wealth Advisors LLC Increases Holdings in The Home Depot, Inc. (NYSE:HD)

Octavia Wealth Advisors LLC raised its stake in shares of The Home Depot, Inc. (NYSE:HD) by 11.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,549 shares of the home improvement retailer’s stock after buying an additional 263 shares during the period. Octavia Wealth Advisors LLC’s holdings in Home Depot were worth $883,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Buffington Mohr McNeal raised its stake in Home Depot by 1.8% during the 4th quarter. Buffington Mohr McNeal now owns 11,422 shares of the home improvement retailer’s stock valued at $3,958,000 after buying an additional 205 shares during the last quarter. Marietta Wealth Management LLC raised its stake in Home Depot by 1.2% during the 4th quarter. Marietta Wealth Management LLC now owns 25,516 shares of the home improvement retailer’s stock valued at $8,843,000 after buying an additional 303 shares during the last quarter. DGS Capital Management LLC increased its stake in shares of Home Depot by 3.0% in the 4th quarter. DGS Capital Management LLC now owns 1,143 shares of the home improvement retailer’s stock worth $396,000 after purchasing an additional 33 shares in the last quarter. United Asset Strategies Inc. increased its stake in shares of Home Depot by 1.2% in the 4th quarter. United Asset Strategies Inc. now owns 28,808 shares of the home improvement retailer’s stock worth $9,984,000 after purchasing an additional 332 shares in the last quarter. Finally, First American Trust FSB increased its stake in shares of Home Depot by 45.3% in the 4th quarter. First American Trust FSB now owns 2,780 shares of the home improvement retailer’s stock worth $964,000 after purchasing an additional 867 shares in the last quarter. 70.86% of the stock is currently owned by hedge funds and other institutional investors.

Home Depot Stock Down 0.9 %

HD opened at $334.83 on Wednesday. The company has a quick ratio of 0.40, a current ratio of 1.35 and a debt-to-equity ratio of 40.94. The Home Depot, Inc. has a 52 week low of $274.26 and a 52 week high of $396.87. The firm has a 50-day simple moving average of $369.14 and a two-hundred day simple moving average of $339.05. The company has a market capitalization of $331.82 billion, a PE ratio of 22.17, a price-to-earnings-growth ratio of 2.25 and a beta of 0.98.

Home Depot (NYSE:HD) last announced its quarterly earnings results on Tuesday, February 20th. The home improvement retailer reported $2.82 EPS for the quarter, beating analysts’ consensus estimates of $2.77 by $0.05. Home Depot had a net margin of 9.92% and a return on equity of 1,452.22%. The firm had revenue of $34.79 billion during the quarter, compared to the consensus estimate of $34.64 billion. During the same quarter last year, the firm earned $3.30 EPS. The firm’s revenue for the quarter was down 2.9% compared to the same quarter last year. Analysts forecast that The Home Depot, Inc. will post 15.37 earnings per share for the current fiscal year.

Home Depot Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 21st. Investors of record on Thursday, March 7th were issued a $2.25 dividend. This is an increase from Home Depot’s previous quarterly dividend of $2.09. The ex-dividend date of this dividend was Wednesday, March 6th. This represents a $9.00 dividend on an annualized basis and a dividend yield of 2.69%. Home Depot’s dividend payout ratio (DPR) is presently 59.60%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Stifel Nicolaus upped their price objective on Home Depot from $355.00 to $366.00 and gave the stock a “hold” rating in a research note on Friday, February 16th. Evercore ISI reduced their price objective on Home Depot from $420.00 to $415.00 and set an “outperform” rating for the company in a research note on Tuesday. Royal Bank of Canada upped their price objective on Home Depot from $299.00 to $377.00 and gave the stock a “sector perform” rating in a research note on Monday, February 26th. Telsey Advisory Group upped their price objective on Home Depot from $335.00 to $360.00 and gave the stock a “market perform” rating in a research note on Monday, April 1st. Finally, Truist Financial upped their price objective on Home Depot from $386.00 to $417.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. One analyst has rated the stock with a sell rating, eight have given a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $375.96.

Insider Activity at Home Depot

In related news, CEO Edward P. Decker sold 35,987 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $368.63, for a total value of $13,265,887.81. Following the completion of the transaction, the chief executive officer now owns 107,731 shares of the company’s stock, valued at approximately $39,712,878.53. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Home Depot news, EVP Timothy A. Hourigan sold 8,996 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $368.74, for a total value of $3,317,185.04. Following the completion of the sale, the executive vice president now owns 75,799 shares of the company’s stock, valued at $27,950,123.26. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Edward P. Decker sold 35,987 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $368.63, for a total transaction of $13,265,887.81. Following the completion of the sale, the chief executive officer now directly owns 107,731 shares of the company’s stock, valued at approximately $39,712,878.53. The disclosure for this sale can be found here. 0.10% of the stock is owned by insiders.

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.