SOA Wealth Advisors Trims Holdings in The Home Depot Amid Earnings Optimism

SOA Wealth Advisors LLC reduced its holdings in The Home Depot, Inc. by 29.7% during the second quarter, according to a recent filing with the Securities and Exchange Commission (SEC). This means that SOA sold 7,147 shares of HD stock, leaving them with 16,880 shares at the end of the quarter. The value of their holdings in Home Depot was approximately $5.953 million.

The firm's stake in Home Depot accounts for around 0.9% of its total holdings, making it its 26th biggest holding. This is just one of many institutional investors that have recently bought or sold shares of the company.

Analysts are expecting a solid report from Home Depot when they release their second-quarter earnings results. According to Wells Fargo, the company's sales and earnings growth will continue, driven by momentum among professional customers and gains in digital sales. The firm also raised its price target for HD stock to $400.