Advisors Asset Management Inc. Trims Stock Position in Quest Diagnostics Incorporated (NYSE:DGX)

Advisors Asset Management Inc. decreased its position in Quest Diagnostics Incorporated (NYSE:DGX) by 15.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,252 shares of the medical research company’s stock after selling 6,718 shares during the period. Advisors Asset Management Inc.’s holdings in Quest Diagnostics were worth $5,620,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Sierra Ocean LLC purchased a new position in Quest Diagnostics in the fourth quarter worth approximately $33,000. Versant Capital Management Inc grew its holdings in shares of Quest Diagnostics by 340.4% during the 4th quarter. Versant Capital Management Inc now owns 251 shares of the medical research company’s stock worth $38,000 after purchasing an additional 194 shares during the period. First Financial Corp IN acquired a new stake in shares of Quest Diagnostics during the 4th quarter worth about $38,000. FPC Investment Advisory Inc. purchased a new stake in Quest Diagnostics in the 4th quarter valued at about $45,000. Finally, Global Trust Asset Management LLC acquired a new position in Quest Diagnostics in the fourth quarter valued at about $49,000. Institutional investors and hedge funds own 88.06% of the company’s stock.

Quest Diagnostics Trading Down 2.6 %

NYSE:DGX opened at $167.94 on Thursday. Quest Diagnostics Incorporated has a 1 year low of $125.42 and a 1 year high of $178.87. The stock has a market cap of $18.64 billion, a P/E ratio of 21.84, a P/E/G ratio of 2.16 and a beta of 0.92. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.02 and a current ratio of 1.10. The stock has a 50-day simple moving average of $164.63 and a 200-day simple moving average of $158.48.

Quest Diagnostics (NYSE:DGX) last announced its quarterly earnings results on Thursday, January 30th. The medical research company reported $2.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.19 by $0.04. Quest Diagnostics had a return on equity of 15.07% and a net margin of 8.80%. As a group, analysts anticipate that Quest Diagnostics Incorporated will post 9.7 earnings per share for the current fiscal year.

Quest Diagnostics Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, April 7th will be given a $0.80 dividend. The ex-dividend date of this dividend is Monday, April 7th. This is a boost from Quest Diagnostics’s previous quarterly dividend of $0.75. This represents a $3.20 dividend on an annualized basis and a yield of 1.91%. Quest Diagnostics’s payout ratio is 41.61%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. StockNews.com downgraded shares of Quest Diagnostics from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Mizuho boosted their target price on Quest Diagnostics from $177.00 to $178.00 and gave the company an “outperform” rating in a research report on Monday, February 3rd. Piper Sandler restated a “neutral” rating and set a $180.00 price target (up from $165.00) on shares of Quest Diagnostics in a research report on Monday, February 3rd. UBS Group boosted their price objective on Quest Diagnostics from $166.00 to $170.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. Finally, Robert W. Baird set a $189.00 target price on Quest Diagnostics in a report on Friday, January 31st. Eight equities research analysts have rated the stock with a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $178.23.

Insider Buying and Selling at Quest Diagnostics

In other news, Director Vicky B. Gregg sold 1,250 shares of the stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $164.57, for a total value of $205,712.50. Following the completion of the sale, the director now directly owns 16,867 shares of the company’s stock, valued at approximately $2,775,802.19. This represents a 6.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Mark E. Delaney sold 403 shares of Quest Diagnostics stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $164.30, for a total transaction of $66,212.90. Following the completion of the transaction, the senior vice president now directly owns 4,624 shares in the company, valued at $759,723.20. The trade was a 8.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 14,157 shares of company stock worth $2,423,755 over the last 90 days. Corporate insiders own 0.79% of the company’s stock.

Quest Diagnostics Company Profile

Quest Diagnostics Incorporated provides diagnostic testing and services in the United States and internationally. The company develops and delivers diagnostic information services, such as routine, non-routine and advanced clinical testing, anatomic pathology testing, and other diagnostic information services.