IHT Wealth Management LLC Sells 748 Shares of Elevance Health, Inc. (NYSE:ELV)

IHT Wealth Management LLC decreased its position in Elevance Health, Inc. (NYSE:ELV - Free Report) by 49.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 758 shares of the company's stock after selling 748 shares during the period. IHT Wealth Management LLC's holdings in Elevance Health were worth $279,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Flagship Wealth Advisors LLC purchased a new position in Elevance Health in the fourth quarter valued at approximately $26,000. OFI Invest Asset Management purchased a new position in shares of Elevance Health during the 4th quarter valued at $29,000. WealthTrak Capital Management LLC bought a new position in shares of Elevance Health during the 4th quarter worth $29,000. Lee Danner & Bass Inc. purchased a new stake in Elevance Health in the 4th quarter worth about $30,000. Finally, Crews Bank & Trust bought a new stake in Elevance Health in the 4th quarter valued at about $34,000. Hedge funds and other institutional investors own 89.24% of the company's stock.

Insider Buying and Selling

In related news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of Elevance Health stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $396.30, for a total value of $1,388,635.20. Following the sale, the executive vice president now owns 10,116 shares in the company, valued at $4,008,970.80. The trade was a 25.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Ronald W. Penczek sold 443 shares of the firm's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $415.13, for a total transaction of $183,902.59. Following the completion of the sale, the chief accounting officer now directly owns 1,847 shares of the company's stock, valued at approximately $766,745.11. This represents a 19.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 8,535 shares of company stock valued at $3,521,612 over the last three months. 0.29% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

ELV has been the subject of several recent research reports. Stephens downgraded shares of Elevance Health from an "overweight" rating to an "equal weight" rating and reduced their target price for the stock from $520.00 to $440.00 in a research note on Wednesday, January 22nd. Mizuho boosted their target price on shares of Elevance Health from $455.00 to $505.00 and gave the company an "outperform" rating in a report on Wednesday, April 9th. Wells Fargo & Company cut their price target on Elevance Health from $483.00 to $478.00 and set an "overweight" rating for the company in a report on Tuesday, January 28th. Royal Bank of Canada reiterated an "outperform" rating and set a $478.00 price objective on shares of Elevance Health in a research note on Wednesday, April 23rd. Finally, Sanford C. Bernstein restated an "outperform" rating on shares of Elevance Health in a research note on Friday, March 28th. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $510.38.

Elevance Health Price Performance

Shares of ELV traded up $1.42 during midday trading on Friday, reaching $409.73. The stock had a trading volume of 863,556 shares, compared to its average volume of 1,463,761. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $92.57 billion, a price-to-earnings ratio of 16.00, a price-to-earnings-growth ratio of 1.18 and a beta of 0.77. The company's 50-day moving average is $422.07 and its 200 day moving average is $406.13. Elevance Health, Inc. has a 12-month low of $362.21 and a 12-month high of $567.26.

Elevance Health (NYSE:ELV - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The company reported $11.97 earnings per share for the quarter, topping analysts' consensus estimates of $10.60 by $1.37. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. The firm had revenue of $48.77 billion during the quarter, compared to analyst estimates of $46.26 billion. On average, equities analysts predict that Elevance Health, Inc. will post 33.96 EPS for the current fiscal year.

Elevance Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 25th. Stockholders of record on Tuesday, June 10th will be issued a $1.71 dividend. This represents a $6.84 annualized dividend and a dividend yield of 1.67%. The ex-dividend date is Tuesday, June 10th. Elevance Health's dividend payout ratio is 26.69%.

About Elevance Health

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.