Elevance Health, Inc. (NYSE:ELV) Stock Position Trimmed by Smith Salley Wealth Management

Smith Salley Wealth Management decreased its position in Elevance Health, Inc. (NYSE:ELV) by 4.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 29,705 shares of the company’s stock after selling 1,380 shares during the period. Smith Salley Wealth Management’s holdings in Elevance Health were worth $10,958,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in ELV. Blair William & Co. IL increased its stake in Elevance Health by 21.6% during the 2nd quarter. Blair William & Co. IL now owns 14,756 shares of the company’s stock valued at $7,995,000 after buying an additional 2,622 shares during the period. MQS Management LLC bought a new stake in Elevance Health during the second quarter worth approximately $217,000. Ieq Capital LLC lifted its holdings in shares of Elevance Health by 16.7% in the second quarter. Ieq Capital LLC now owns 9,787 shares of the company’s stock valued at $5,304,000 after buying an additional 1,404 shares during the period. Callan Capital LLC boosted its position in shares of Elevance Health by 83.4% during the 2nd quarter. Callan Capital LLC now owns 860 shares of the company’s stock valued at $466,000 after purchasing an additional 391 shares in the last quarter. Finally, AE Wealth Management LLC grew its position in Elevance Health by 13.9% in the second quarter. AE Wealth Management LLC now owns 5,205 shares of the company’s stock worth $2,820,000 after buying an additional 637 shares during the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Cantor Fitzgerald decreased their target price on Elevance Health from $600.00 to $485.00 and set an “overweight” rating on the stock in a report on Friday, October 18th. UBS Group cut their price objective on Elevance Health from $605.00 to $555.00 and set a “buy” rating on the stock in a report on Friday, October 18th. Argus downgraded shares of Elevance Health from a “buy” rating to a “hold” rating in a research report on Friday, October 18th. Raymond James set a $485.00 price objective on shares of Elevance Health in a research note on Friday, October 18th. Finally, TD Cowen cut their target price on shares of Elevance Health from $589.00 to $484.00 and set a “buy” rating on the stock in a research note on Monday, October 21st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $536.53.

Elevance Health Price Performance

Shares of ELV opened at $384.26 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.50 and a current ratio of 1.50. The firm has a market cap of $89.12 billion, a PE ratio of 14.01, a PEG ratio of 1.08 and a beta of 0.84. The firm’s 50 day moving average price is $388.02 and its 200 day moving average price is $467.11. Elevance Health, Inc. has a twelve month low of $362.21 and a twelve month high of $567.26.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Thursday, October 17th. The company reported $8.37 earnings per share for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.29). The business had revenue of $44.72 billion for the quarter, compared to the consensus estimate of $43.47 billion. Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $8.99 EPS. As a group, research analysts expect that Elevance Health, Inc. will post 32.96 EPS for the current fiscal year.

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.