Beaird Harris Wealth Management LLC Decreases Stock Holdings in UnitedHealth Group Incorporated (NYSE:UNH)

Posted by Defense World Staff on Jul 9th, 2023

Beaird Harris Wealth Management LLC reduced its holdings in shares of UnitedHealth Group Incorporated (NYSE:UNH – Free Report) by 63.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 100 shares of the healthcare conglomerate’s stock after selling 176 shares during the quarter. Beaird Harris Wealth Management LLC’s holdings in UnitedHealth Group were worth $47,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of UNH. Geode Capital Management LLC boosted its stake in shares of UnitedHealth Group by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 16,858,436 shares of the healthcare conglomerate’s stock valued at $8,921,651,000 after purchasing an additional 247,997 shares during the period. Morgan Stanley boosted its stake in shares of UnitedHealth Group by 13.8% in the fourth quarter. Morgan Stanley now owns 15,635,038 shares of the healthcare conglomerate’s stock valued at $8,289,386,000 after purchasing an additional 1,893,192 shares during the period. Moneta Group Investment Advisors LLC boosted its stake in shares of UnitedHealth Group by 100,076.4% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 11,823,820 shares of the healthcare conglomerate’s stock valued at $6,268,753,000 after purchasing an additional 11,812,017 shares during the period. Alliancebernstein L.P. boosted its stake in shares of UnitedHealth Group by 4.1% in the fourth quarter. Alliancebernstein L.P. now owns 10,499,294 shares of the healthcare conglomerate’s stock valued at $5,566,516,000 after purchasing an additional 414,032 shares during the period. Finally, Norges Bank purchased a new position in shares of UnitedHealth Group in the fourth quarter valued at $5,210,004,000. 92.61% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Erin Mcsweeney sold 1,008 shares of the firm’s stock in a transaction dated Friday, April 21st. The shares were sold at an average price of $484.58, for a total transaction of $488,456.64. Following the completion of the transaction, the executive vice president now owns 10,359 shares in the company, valued at approximately $5,019,764.22. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other UnitedHealth Group news, CEO Andrew Witty sold 6,160 shares of the firm’s stock in a transaction dated Thursday, April 27th. The shares were sold at an average price of $487.49, for a total value of $3,002,938.40. Following the completion of the transaction, the chief executive officer now directly owns 86,564 shares in the company, valued at $42,199,084.36. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Erin Mcsweeney sold 1,008 shares of the firm’s stock in a transaction dated Friday, April 21st. The stock was sold at an average price of $484.58, for a total transaction of $488,456.64. Following the completion of the transaction, the executive vice president now owns 10,359 shares of the company’s stock, valued at $5,019,764.22. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,852 shares of company stock worth $4,313,962. Corporate insiders own 0.35% of the company’s stock.

Wall Street Analyst Weigh In

UNH has been the topic of a number of research analyst reports. Cantor Fitzgerald initiated coverage on shares of UnitedHealth Group in a research note on Thursday, April 20th. They set an “overweight” rating and a $591.00 price objective on the stock. TD Cowen reduced their price objective on shares of UnitedHealth Group from $596.00 to $562.00 and set an “outperform” rating on the stock in a research note on Monday, April 17th. Truist Financial reduced their price objective on shares of UnitedHealth Group from $610.00 to $580.00 in a research note on Wednesday, June 14th. Raymond James reissued a “strong-buy” rating and set a $630.00 target price on shares of UnitedHealth Group in a report on Friday, April 14th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on shares of UnitedHealth Group from $627.00 to $564.00 in a report on Friday, June 16th. One investment analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $590.84.

UnitedHealth Group Stock Down 1.7 %

UNH stock opened at $461.58 on Friday. The stock has a market cap of $429.74 billion, a PE ratio of 21.11, a price-to-earnings-growth ratio of 1.35 and a beta of 0.66. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.71. The firm’s 50-day simple moving average is $481.95 and its 200 day simple moving average is $488.15. UnitedHealth Group Incorporated has a fifty-two week low of $445.68 and a fifty-two week high of $558.10.

UnitedHealth Group (NYSE:UNH – Free Report) last released its earnings results on Friday, April 14th. The healthcare conglomerate reported $6.26 EPS for the quarter, beating the consensus estimate of $6.24 by $0.02. The firm had revenue of $91.93 billion for the quarter, compared to analysts’ expectations of $89.77 billion. UnitedHealth Group had a net margin of 6.16% and a return on equity of 27.05%. UnitedHealth Group’s quarterly revenue was up 14.7% on a year-over-year basis. During the same quarter last year, the company earned $5.49 EPS. As a group, sell-side analysts predict that UnitedHealth Group Incorporated will post 24.85 EPS for the current year.

UnitedHealth Group Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 27th. Stockholders of record on Monday, June 19th were given a dividend of $1.88 per share. This is a positive change from UnitedHealth Group’s previous quarterly dividend of $1.65. The ex-dividend date of this dividend was Thursday, June 15th. This represents a $7.52 annualized dividend and a dividend yield of 1.63%. UnitedHealth Group’s dividend payout ratio (DPR) is 34.39%.

About UnitedHealth Group

(Free Report)

UnitedHealth Group Incorporated operates as a diversified health care company in the United States. It operates through four segments: UnitedHealthcare, Optum Health, Optum Insight, and Optum Rx. The UnitedHealthcare segment offers consumer-oriented health benefit plans and services for national employers, public sector employers, mid-sized employers, small businesses, and individuals; health care coverage, and health and well-being services to individuals age 50 and older addressing their needs; Medicaid plans, children's health insurance and health care programs; and health and dental benefits, and hospital and clinical services, as well as health care benefits products and services to state programs caring for the economically disadvantaged, medically underserved, and those without the benefit of employer-funded health care coverage.