536 Shares in Elevance Health, Inc. (NYSE:ELV) Bought by Woodmont Investment Counsel LLC

Woodmont Investment Counsel LLC purchased a new position in shares of Elevance Health, Inc. (NYSE:ELV) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 536 shares of the company’s stock, valued at approximately $278,000.

A number of other institutional investors have also recently added to or reduced their stakes in ELV. Richwood Investment Advisors LLC boosted its position in Elevance Health by 0.8% in the 4th quarter. Richwood Investment Advisors LLC now owns 2,546 shares of the company’s stock valued at $1,201,000 after buying an additional 20 shares during the last quarter. Bell Investment Advisors Inc boosted its position in Elevance Health by 2.1% in the 4th quarter. Bell Investment Advisors Inc now owns 989 shares of the company’s stock valued at $466,000 after buying an additional 20 shares during the last quarter. Alliance Wealth Advisors LLC boosted its position in Elevance Health by 2.9% in the 4th quarter. Alliance Wealth Advisors LLC now owns 745 shares of the company’s stock valued at $351,000 after buying an additional 21 shares during the last quarter. Fiduciary Alliance LLC boosted its position in Elevance Health by 3.6% in the 1st quarter. Fiduciary Alliance LLC now owns 611 shares of the company’s stock valued at $315,000 after buying an additional 21 shares during the last quarter. Finally, Sugarloaf Wealth Management LLC boosted its position in Elevance Health by 8.6% in the 4th quarter. Sugarloaf Wealth Management LLC now owns 277 shares of the company’s stock valued at $131,000 after buying an additional 22 shares during the last quarter. 89.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ELV has been the subject of a number of analyst reports. JPMorgan Chase & Co. upped their price objective on shares of Elevance Health from $628.00 to $631.00 and gave the company an “overweight” rating in a research report on Thursday, May 30th. Barclays upped their target price on shares of Elevance Health from $584.00 to $621.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. Cantor Fitzgerald restated an “overweight” rating and issued a $600.00 target price on shares of Elevance Health in a research note on Wednesday, June 12th. Morgan Stanley began coverage on shares of Elevance Health in a research note on Monday, June 24th. They issued an “overweight” rating and a $643.00 target price on the stock. Finally, Baird R W upgraded shares of Elevance Health to a “strong-buy” rating in a research note on Thursday, May 30th. One equities research analyst has rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $611.36.

Insider Activity

In other news, EVP Felicia F. Norwood sold 14,111 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $533.74, for a total value of $7,531,605.14. Following the completion of the transaction, the executive vice president now directly owns 31,460 shares in the company, valued at $16,791,460.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.29% of the company’s stock.

Elevance Health Price Performance

ELV opened at $535.92 on Wednesday. The company’s 50-day moving average price is $534.41 and its 200 day moving average price is $509.38. Elevance Health, Inc. has a fifty-two week low of $412.00 and a fifty-two week high of $550.34. The firm has a market cap of $124.56 billion, a price-to-earnings ratio of 20.25, a price-to-earnings-growth ratio of 1.20 and a beta of 0.84. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Thursday, April 18th. The company reported $10.64 EPS for the quarter, beating the consensus estimate of $10.54 by $0.10. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. The company had revenue of $42.27 billion for the quarter, compared to analyst estimates of $42.49 billion. During the same quarter last year, the business earned $9.46 earnings per share. Elevance Health’s revenue was up .9% compared to the same quarter last year. As a group, sell-side analysts expect that Elevance Health, Inc. will post 37.25 earnings per share for the current year.

Elevance Health Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 25th. Stockholders of record on Monday, June 10th were issued a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 1.22%. The ex-dividend date of this dividend was Monday, June 10th. Elevance Health’s dividend payout ratio (DPR) is presently 24.64%.

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.