Avidian Wealth Enterprises LLC Purchases 98 Shares of Elevance Health, Inc. $ELV

Avidian Wealth Enterprises LLC grew its position in shares of Elevance Health, Inc. (NYSE:ELV) by 16.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 693 shares of the company’s stock after purchasing an additional 98 shares during the period. Avidian Wealth Enterprises LLC’s holdings in Elevance Health were worth $270,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in ELV. GLOBALT Investments LLC GA grew its position in Elevance Health by 0.4% during the first quarter. GLOBALT Investments LLC GA now owns 6,306 shares of the company’s stock worth $2,743,000 after buying an additional 24 shares in the last quarter. Checchi Capital Advisers LLC boosted its position in shares of Elevance Health by 1.0% during the 1st quarter. Checchi Capital Advisers LLC now owns 2,737 shares of the company’s stock valued at $1,190,000 after acquiring an additional 27 shares during the last quarter. Hemington Wealth Management grew its holdings in shares of Elevance Health by 13.3% during the first quarter. Hemington Wealth Management now owns 230 shares of the company’s stock worth $100,000 after purchasing an additional 27 shares in the last quarter. Aspen Investment Management Inc increased its position in shares of Elevance Health by 2.6% in the first quarter. Aspen Investment Management Inc now owns 1,048 shares of the company’s stock worth $456,000 after purchasing an additional 27 shares during the last quarter. Finally, Prudent Man Advisors LLC raised its stake in Elevance Health by 2.3% in the first quarter. Prudent Man Advisors LLC now owns 1,257 shares of the company’s stock valued at $547,000 after purchasing an additional 28 shares in the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Analyst Upgrades and Downgrades

ELV has been the subject of a number of research reports. Leerink Partnrs cut shares of Elevance Health from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 17th. Guggenheim upped their target price on shares of Elevance Health from $360.00 to $398.00 and gave the stock a “buy” rating in a research report on Wednesday, October 8th. Mizuho increased their target price on Elevance Health from $342.00 to $420.00 and gave the company an “outperform” rating in a research note on Thursday, October 9th. Morgan Stanley lifted their price target on Elevance Health from $316.00 to $359.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 14th. Finally, Wall Street Zen cut Elevance Health from a “buy” rating to a “hold” rating in a report on Friday, July 18th. Twelve investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, Elevance Health currently has a consensus rating of “Moderate Buy” and a consensus price target of $397.89.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, Director Susan D. Devore bought 1,200 shares of Elevance Health stock in a transaction dated Tuesday, August 19th. The shares were purchased at an average cost of $312.15 per share, with a total value of $374,580.00. Following the completion of the purchase, the director owned 3,502 shares of the company’s stock, valued at approximately $1,093,149.30. This represents a 52.13% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.29% of the company’s stock.

Elevance Health Trading Up 0.3%

NYSE:ELV opened at $346.36 on Friday. The firm has a market capitalization of $76.97 billion, a P/E ratio of 14.16, a P/E/G ratio of 1.26 and a beta of 0.59. The company has a quick ratio of 1.44, a current ratio of 1.56 and a debt-to-equity ratio of 0.71. The company has a fifty day moving average of $326.42 and a 200 day moving average of $353.99. Elevance Health, Inc. has a 52 week low of $273.71 and a 52 week high of $458.75.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Tuesday, October 21st. The company reported $6.03 EPS for the quarter, beating the consensus estimate of $5.03 by $1.00. The firm had revenue of $50.09 billion during the quarter, compared to the consensus estimate of $49.26 billion. Elevance Health had a net margin of 2.84% and a return on equity of 16.17%. The company’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $8.37 earnings per share. On average, research analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, December 5th will be issued a $1.71 dividend. The ex-dividend date is Friday, December 5th. This represents a $6.84 annualized dividend and a yield of 2.0%. Elevance Health’s dividend payout ratio (DPR) is 29.11%.

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.