Avidian Wealth Enterprises LLC Has $408,000 Stock Position in Elevance Health, Inc. (NYSE:ELV)

Avidian Wealth Enterprises LLC cut its position in Elevance Health, Inc. (NYSE:ELV) by 5.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 784 shares of the company’s stock after selling 46 shares during the quarter. Avidian Wealth Enterprises LLC’s holdings in Elevance Health were worth $408,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Iridian Asset Management LLC CT grew its position in shares of Elevance Health by 10.7% in the 3rd quarter. Iridian Asset Management LLC CT now owns 39,154 shares of the company’s stock valued at $20,360,000 after acquiring an additional 3,786 shares during the period. International Assets Investment Management LLC raised its holdings in shares of Elevance Health by 85,533.1% in the 3rd quarter. International Assets Investment Management LLC now owns 532,638 shares of the company’s stock valued at $276,972,000 after purchasing an additional 532,016 shares during the period. abrdn plc lifted its stake in Elevance Health by 32.2% in the 3rd quarter. abrdn plc now owns 360,134 shares of the company’s stock valued at $186,540,000 after purchasing an additional 87,717 shares during the last quarter. Blair William & Co. IL grew its holdings in Elevance Health by 119.7% during the first quarter. Blair William & Co. IL now owns 12,134 shares of the company’s stock worth $6,292,000 after purchasing an additional 6,610 shares during the period. Finally, AMI Investment Management Inc. acquired a new position in Elevance Health during the third quarter worth approximately $1,294,000. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of Elevance Health stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $432.14, for a total value of $3,205,182.38. Following the transaction, the executive vice president now owns 8,423 shares in the company, valued at $3,639,915.22. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.29% of the stock is owned by corporate insiders.

Elevance Health Price Performance

ELV stock opened at $429.22 on Friday. The company’s 50-day moving average price is $494.37 and its two-hundred day moving average price is $519.32. The firm has a market cap of $99.54 billion, a P/E ratio of 15.65, a P/E/G ratio of 1.24 and a beta of 0.85. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.56. Elevance Health, Inc. has a 12 month low of $397.98 and a 12 month high of $567.26.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Thursday, October 17th. The company reported $8.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.29). Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. The firm had revenue of $44.72 billion during the quarter, compared to the consensus estimate of $43.47 billion. During the same period last year, the business earned $8.99 earnings per share. The business’s revenue was up 5.3% compared to the same quarter last year. On average, analysts anticipate that Elevance Health, Inc. will post 32.93 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Thursday, December 5th will be issued a dividend of $1.63 per share. The ex-dividend date is Thursday, December 5th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.52%. Elevance Health’s dividend payout ratio (DPR) is currently 23.77%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on ELV. Wells Fargo & Company cut their price objective on Elevance Health from $593.00 to $495.00 and set an “overweight” rating for the company in a research report on Monday. UBS Group cut their price target on Elevance Health from $605.00 to $555.00 and set a “buy” rating for the company in a report on Friday, October 18th. Cantor Fitzgerald decreased their price objective on shares of Elevance Health from $600.00 to $485.00 and set an “overweight” rating on the stock in a report on Friday, October 18th. Morgan Stanley dropped their price objective on shares of Elevance Health from $643.00 to $551.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Finally, Truist Financial reaffirmed a “buy” rating and issued a $520.00 price objective (down from $620.00) on shares of Elevance Health in a report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $539.20.

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.