Avidian Wealth Enterprises LLC Sells 189 Shares of Elevance Health, Inc. (NYSE:ELV)

Avidian Wealth Enterprises LLC cut its stake in Elevance Health, Inc. (NYSE:ELV) by 24.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 595 shares of the company’s stock after selling 189 shares during the period. Avidian Wealth Enterprises LLC’s holdings in Elevance Health were worth $220,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Raelipskie Partnership bought a new stake in Elevance Health during the third quarter worth about $26,000. PSI Advisors LLC bought a new position in shares of Elevance Health during the third quarter valued at approximately $27,000. Eastern Bank purchased a new position in shares of Elevance Health during the third quarter valued at approximately $31,000. Dunhill Financial LLC boosted its position in shares of Elevance Health by 57.8% in the 3rd quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock worth $37,000 after purchasing an additional 26 shares in the last quarter. Finally, Peterson Financial Group Inc. purchased a new stake in shares of Elevance Health in the 3rd quarter worth approximately $44,000. 89.24% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. UBS Group lowered their price objective on Elevance Health from $605.00 to $555.00 and set a “buy” rating for the company in a research note on Friday, October 18th. TD Cowen lowered their price target on Elevance Health from $589.00 to $484.00 and set a “buy” rating for the company in a research report on Monday, October 21st. Barclays increased their price objective on shares of Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Raymond James set a $485.00 target price on shares of Elevance Health in a report on Friday, October 18th. Finally, Morgan Stanley cut their price target on shares of Elevance Health from $643.00 to $551.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Three research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $517.03.

Elevance Health Price Performance

NYSE ELV opened at $389.58 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50. Elevance Health, Inc. has a 1-year low of $362.21 and a 1-year high of $567.26. The stock has a market capitalization of $90.35 billion, a price-to-earnings ratio of 15.21, a PEG ratio of 1.17 and a beta of 0.83. The business’s fifty day moving average price is $384.93 and its 200-day moving average price is $450.29.

Elevance Health (NYSE:ELV) last announced its earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.80 by $0.04. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. On average, equities analysts predict that Elevance Health, Inc. will post 34.05 earnings per share for the current year.

Elevance Health Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 10th will be given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 1.76%. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Monday, March 10th. Elevance Health’s payout ratio is 26.71%.

Elevance Health Profile

Elevance Health, Inc, together with its subsidiaries, operates as a health benefits company in the United States. The company operates through four segments: Health Benefits, CarelonRx, Carelon Services, and Corporate & Other. It offers a variety of health plans and services to program members; health products; an array of fee-based administrative managed care services; and specialty and other insurance products and services, such as stop loss, dental, vision, life, disability, and supplemental health insurance benefits.