Dividend Stock Portfolio For Income: Top 10 Stocks to Buy

2. The Home Depot, Inc. (NYSE:HD)

Number of Hedge Fund Holders: 88

The Home Depot, Inc. (NYSE:HD) is an American home improvement company, headquartered in Georgia. The company is engaged in the sale of building materials and home improvement products. It recently announced solid earnings for the fourth quarter of 2024, with revenues amounting to $39.7 billion, up over 14% from the same period last year. For fiscal year 2025, the company expects total sales growth of around 2.8%, with comparable sales expected to rise by approximately 1% over the comparable 52-week period. It also plans to expand its footprint by opening about 13 new stores. In addition, the company projects a gross margin of roughly 33.4%.

The Home Depot, Inc. (NYSE:HD) ended the quarter with over $1.65 billion available in cash and cash equivalents. For FY24, the company generated nearly $20 billion in operating cash flow. This cash position has allowed the company to pay regular dividends for 152 quarters straight. It also announced a 2.2% hike in its quarterly dividend to $2.30 per share, which was the company’s 15th consecutive year of dividend growth. As of February 25, the stock has a dividend yield of 2.29%.

At the end of Q4 2024, 88 hedge funds tracked by Insider Monkey held stakes in The Home Depot, Inc. (NYSE:HD), up from 82 in the previous quarter. These stakes are collectively valued at over $7.7 billion. Among these hedge funds, Fisher Asset Management was the company’s leading stakeholder in Q4.