Martel Wealth Advisors Inc Takes $1.22 Million Position in The Home Depot, Inc. (NYSE:HD)

Martel Wealth Advisors Inc purchased a new position in shares of The Home Depot, Inc. (NYSE:HD) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 3,138 shares of the home improvement retailer’s stock, valued at approximately $1,221,000. Home Depot makes up 0.2% of Martel Wealth Advisors Inc’s investment portfolio, making the stock its 29th biggest position.

Several other hedge funds have also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC acquired a new position in Home Depot during the third quarter worth $41,000. Livelsberger Financial Advisory purchased a new position in shares of Home Depot during the 3rd quarter worth $46,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of Home Depot during the 2nd quarter valued at about $47,000. Quarry LP grew its holdings in shares of Home Depot by 36.0% in the second quarter. Quarry LP now owns 136 shares of the home improvement retailer’s stock valued at $47,000 after purchasing an additional 36 shares during the period. Finally, Semmax Financial Advisors Inc. increased its position in Home Depot by 111.3% during the second quarter. Semmax Financial Advisors Inc. now owns 150 shares of the home improvement retailer’s stock worth $53,000 after purchasing an additional 79 shares during the last quarter. 70.86% of the stock is owned by institutional investors and hedge funds.

Home Depot Trading Down 2.0 %

NYSE HD opened at $410.14 on Thursday. The Home Depot, Inc. has a 52 week low of $323.77 and a 52 week high of $439.37. The firm has a 50 day moving average of $406.84 and a two-hundred day moving average of $389.32. The company has a quick ratio of 0.31, a current ratio of 1.13 and a debt-to-equity ratio of 8.65. The stock has a market capitalization of $407.42 billion, a PE ratio of 27.86, a price-to-earnings-growth ratio of 4.31 and a beta of 1.05.

Home Depot (NYSE:HD) last issued its earnings results on Tuesday, November 12th. The home improvement retailer reported $3.78 EPS for the quarter, topping analysts’ consensus estimates of $3.64 by $0.14. Home Depot had a net margin of 9.45% and a return on equity of 452.60%. The firm had revenue of $40.22 billion during the quarter, compared to the consensus estimate of $39.31 billion. During the same quarter in the previous year, the firm posted $3.81 earnings per share. The company’s revenue was up 6.6% compared to the same quarter last year. As a group, research analysts expect that The Home Depot, Inc. will post 15.12 EPS for the current fiscal year.

Home Depot Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Investors of record on Wednesday, November 27th were paid a dividend of $2.25 per share. This represents a $9.00 annualized dividend and a yield of 2.19%. The ex-dividend date of this dividend was Wednesday, November 27th. Home Depot’s payout ratio is 61.14%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Gordon Haskett raised shares of Home Depot from an “accumulate” rating to a “buy” rating and set a $450.00 price target for the company in a research note on Wednesday, October 2nd. Wells Fargo & Company increased their price objective on Home Depot from $400.00 to $430.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. Morgan Stanley lifted their target price on Home Depot from $380.00 to $450.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Guggenheim increased their price target on Home Depot from $390.00 to $450.00 and gave the stock a “buy” rating in a report on Friday, October 4th. Finally, Truist Financial boosted their price objective on shares of Home Depot from $459.00 to $465.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $426.00.

Insider Activity at Home Depot

In other news, EVP Ann Marie Campbell sold 100 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $402.58, for a total value of $40,258.00. Following the completion of the sale, the executive vice president now directly owns 12,465 shares of the company’s stock, valued at approximately $5,018,159.70. The trade was a 0.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Teresa Wynn Roseborough sold 22,084 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $408.91, for a total value of $9,030,368.44. Following the transaction, the executive vice president now owns 20,404 shares in the company, valued at $8,343,399.64. This represents a 51.98 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 38,188 shares of company stock valued at $15,624,585 over the last three months. 0.10% of the stock is owned by corporate insiders.

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.