Is it possible to overuse <div>?

[lightbulb]

I'm planning on making a general site for myself and am using CSS properly for the first time. Before I had only used two or three styles in the header of the page but now I'm going all out CSS lol.

What I've done is placed a <div> around almost everything I think I might want to customise at some point eg:

<div class="block">
  <div class="sectitle">
    Section Title
  </div>
  <div class="subtitle">
    Sub Title
  </div>
  <div class="imgdescarea">
    <img src="images/blah.jpg" height="150" width="100" alt="picture" />
    <div class="imgdesc">
      Description text etc etc...
   </div>
</div>

Is there such a thing as <div> overkill and am I going to end up there, or is this perfectly acceptable?

 

[lightbulb]

ta for the replies all
as has been said I have got into a habit of specifying img height and width when I know them to prevent content jumping around and so stuff loads quicker due to the placeholder being there before the picture.

As for the divs, say I wanted to set the background colour or mess with borders for a grouping of items...that would warrant a <div> and the items inside could use the <p> or a <span> for their individual formatting or background styles and so on, is that right? <span> being inline and <div> being a block element?