State of Alaska Department of Revenue Buys 1,819 Shares of The Home Depot, Inc. (NYSE:HD)

State of Alaska Department of Revenue increased its holdings in shares of The Home Depot, Inc. (NYSE:HDGet Rating) by 1.2% in the 2nd quarter, Holdings Channel.com reports. The firm owned 159,498 shares of the home improvement retailer’s stock after acquiring an additional 1,819 shares during the quarter. Home Depot makes up approximately 0.5% of State of Alaska Department of Revenue’s portfolio, making the stock its 28th largest position. State of Alaska Department of Revenue’s holdings in Home Depot were worth $43,745,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in HD. Qube Research & Technologies Ltd acquired a new position in shares of Home Depot in the 4th quarter valued at $1,868,000. Endowment Wealth Management Inc. acquired a new stake in Home Depot during the 4th quarter worth $203,000. Alberta Investment Management Corp raised its stake in Home Depot by 21.4% during the 4th quarter. Alberta Investment Management Corp now owns 78,400 shares of the home improvement retailer’s stock worth $32,537,000 after buying an additional 13,800 shares during the period. Accretive Wealth Partners LLC raised its stake in Home Depot by 1.7% during the 4th quarter. Accretive Wealth Partners LLC now owns 4,766 shares of the home improvement retailer’s stock worth $1,978,000 after buying an additional 80 shares during the period. Finally, Fullerton Fund Management Co Ltd. raised its stake in Home Depot by 40.1% during the 4th quarter. Fullerton Fund Management Co Ltd. now owns 92,496 shares of the home improvement retailer’s stock worth $38,387,000 after buying an additional 26,493 shares during the period. Institutional investors and hedge funds own 68.66% of the company’s stock.

Home Depot Trading Up 1.6 %

Home Depot stock opened at $275.97 on Monday. The Home Depot, Inc. has a 52 week low of $264.51 and a 52 week high of $420.61. The company has a debt-to-equity ratio of 165.70, a quick ratio of 0.25 and a current ratio of 1.18. The stock has a market capitalization of $282.52 billion, a P/E ratio of 16.96, a PEG ratio of 1.48 and a beta of 0.99. The stock has a 50-day simple moving average of $300.51 and a 200 day simple moving average of $300.96.

Home Depot (NYSE:HDGet Rating) last posted its quarterly earnings results on Tuesday, August 16th. The home improvement retailer reported $5.05 EPS for the quarter, topping analysts’ consensus estimates of $4.95 by $0.10. Home Depot had a negative return on equity of 3,166.43% and a net margin of 10.88%. The business had revenue of $43.79 billion during the quarter, compared to analysts’ expectations of $43.33 billion. During the same quarter last year, the company posted $4.53 earnings per share. Home Depot’s quarterly revenue was up 6.5% on a year-over-year basis. Analysts expect that The Home Depot, Inc. will post 16.56 earnings per share for the current year.

Home Depot announced that its board has authorized a share repurchase plan on Thursday, August 18th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the home improvement retailer to purchase up to 4.5% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Home Depot Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st were issued a dividend of $1.90 per share. This represents a $7.60 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date of this dividend was Wednesday, August 31st. Home Depot’s dividend payout ratio is presently 46.71%.

Insider Transactions at Home Depot

In other news, EVP Fahim Siddiqui sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, September 9th. The stock was sold at an average price of $300.59, for a total transaction of $300,590.00. Following the completion of the sale, the executive vice president now owns 6,180 shares in the company, valued at $1,857,646.20. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, EVP Fahim Siddiqui sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, September 9th. The stock was sold at an average price of $300.59, for a total transaction of $300,590.00. Following the completion of the sale, the executive vice president now owns 6,180 shares in the company, valued at $1,857,646.20. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Matt Carey sold 12,650 shares of the business’s stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $316.26, for a total value of $4,000,689.00. Following the sale, the executive vice president now owns 34,522 shares of the company’s stock, valued at approximately $10,917,927.72. The disclosure for this sale can be found here. Corporate insiders own 0.17% of the company’s stock.

Analyst Upgrades and Downgrades

HD has been the topic of several recent research reports. Evercore ISI dropped their price target on Home Depot to $360.00 in a research note on Thursday, June 9th. Guggenheim lifted their price target on Home Depot from $350.00 to $355.00 and gave the company a “buy” rating in a research note on Wednesday, August 17th. DA Davidson lifted their price target on Home Depot to $334.00 in a research note on Monday, August 22nd. UBS Group lifted their price target on Home Depot from $360.00 to $370.00 and gave the company a “buy” rating in a research note on Wednesday, August 17th. Finally, MKM Partners initiated coverage on Home Depot in a research note on Thursday, June 23rd. They issued a “neutral” rating and a $285.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $365.95.

Home Depot Profile

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The Home Depot, Inc operates as a home improvement retailer. It operates The Home Depot stores that sell 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, cabinets and cabinet makeovers, countertops, furnaces and central air systems, and windows.

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Institutional Ownership by Quarter for Home Depot (NYSE:HD)

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