GM Advisory Group Inc. Raises Position in Home Depot Inc (NYSE:HD)

GM Advisory Group Inc. boosted its stake in Home Depot Inc (NYSE:HD) by 16.5% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 2,607 shares of the home improvement retailer’s stock after buying an additional 370 shares during the quarter. GM Advisory Group Inc.’s holdings in Home Depot were worth $653,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Armbruster Capital Management Inc. increased its stake in shares of Home Depot by 6.6% during the second quarter. Armbruster Capital Management Inc. now owns 1,386 shares of the home improvement retailer’s stock valued at $347,000 after purchasing an additional 86 shares in the last quarter. Bruderman Asset Management LLC increased its stake in shares of Home Depot by 8.5% during the second quarter. Bruderman Asset Management LLC now owns 28,186 shares of the home improvement retailer’s stock valued at $6,994,000 after purchasing an additional 2,206 shares in the last quarter. Budros Ruhlin & Roe Inc. increased its stake in shares of Home Depot by 20.6% during the first quarter. Budros Ruhlin & Roe Inc. now owns 6,718 shares of the home improvement retailer’s stock valued at $1,254,000 after purchasing an additional 1,147 shares in the last quarter. Cornerstone Wealth Management LLC increased its stake in shares of Home Depot by 10.2% during the first quarter. Cornerstone Wealth Management LLC now owns 3,099 shares of the home improvement retailer’s stock valued at $579,000 after purchasing an additional 286 shares in the last quarter. Finally, Natixis Advisors L.P. increased its stake in shares of Home Depot by 0.9% during the first quarter. Natixis Advisors L.P. now owns 412,064 shares of the home improvement retailer’s stock valued at $76,936,000 after purchasing an additional 3,715 shares in the last quarter. Institutional investors and hedge funds own 69.00% of the company’s stock.

HD has been the subject of a number of analyst reports. Goldman Sachs Group raised their target price on shares of Home Depot from $265.00 to $301.00 and gave the company a “buy” rating in a research note on Tuesday, August 18th. Barclays raised their price target on shares of Home Depot from $260.00 to $315.00 and gave the company an “overweight” rating in a research report on Wednesday, August 19th. DA Davidson began coverage on shares of Home Depot in a research report on Friday, August 14th. They set a “neutral” rating and a $290.00 price target for the company. They noted that the move was a valuation call. Nomura raised their price target on shares of Home Depot from $252.00 to $266.00 and gave the company a “buy” rating in a research report on Tuesday, June 23rd. Finally, CSFB raised their price target on shares of Home Depot from $215.00 to $255.00 and gave the company an “outperform” rating in a research report on Wednesday, May 20th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $286.33.

In other Home Depot news, EVP William G. Lennie sold 13,199 shares of the business’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $283.22, for a total value of $3,738,220.78. Following the sale, the executive vice president now owns 49,736 shares in the company, valued at approximately $14,086,229.92. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Teresa Wynn Roseborough sold 41,947 shares of the business’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $279.83, for a total transaction of $11,738,029.01. 0.26% of the stock is currently owned by insiders.

Shares of HD traded down $12.57 during trading hours on Thursday, reaching $274.63. 5,345,760 shares of the stock traded hands, compared to its average volume of 5,247,120. Home Depot Inc has a 52-week low of $140.63 and a 52-week high of $292.95. The company’s 50-day moving average price is $273.35 and its two-hundred day moving average price is $237.21. The company has a market cap of $307.80 billion, a P/E ratio of 25.28, a price-to-earnings-growth ratio of 2.16 and a beta of 1.09.

Home Depot (NYSE:HD) last released its earnings results on Tuesday, August 18th. The home improvement retailer reported $4.02 earnings per share for the quarter, beating analysts’ consensus estimates of $3.20 by $0.82. Home Depot had a net margin of 9.91% and a negative return on equity of 583.91%. The company had revenue of $38.05 billion for the quarter, compared to analysts’ expectations of $32.13 billion. During the same quarter in the previous year, the company earned $3.17 EPS. Home Depot’s revenue for the quarter was up 23.4% on a year-over-year basis. Equities research analysts expect that Home Depot Inc will post 11.3 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 17th. Investors of record on Thursday, September 3rd will be paid a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date is Wednesday, September 2nd. Home Depot’s dividend payout ratio (DPR) is 58.54%.

Home Depot Company Profile

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 d├ęcor products, as well as provide installation, home maintenance, and professional service programs to do-it-yourself and professional customers.

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

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