Colonial Trust Advisors Lowers Position in Quest Diagnostics Incorporated (NYSE:DGX)

Colonial Trust Advisors trimmed its stake in Quest Diagnostics Incorporated (NYSE:DGX) by 4.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 18,370 shares of the medical research company’s stock after selling 782 shares during the quarter. Colonial Trust Advisors’ holdings in Quest Diagnostics were worth $2,771,000 as of its most recent filing with the SEC.

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

Insider Activity

In other Quest Diagnostics news, SVP Mark E. Delaney sold 403 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $164.30, for a total value of $66,212.90. Following the completion of the sale, the senior vice president now owns 4,624 shares of the company’s stock, valued at approximately $759,723.20. This trade represents a 8.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Vicky B. Gregg sold 1,250 shares of Quest Diagnostics stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $164.57, for a total value of $205,712.50. Following the sale, the director now directly owns 16,867 shares of the company’s stock, valued at $2,775,802.19. This trade represents a 6.90 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 55,903 shares of company stock worth $9,460,221. Company insiders own 0.79% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. StockNews.com lowered shares of Quest Diagnostics from a “buy” rating to a “hold” rating in a report on Thursday, February 6th. Bank of America increased their price target on shares of Quest Diagnostics from $179.00 to $182.00 and gave the company a “buy” rating in a research report on Friday, December 13th. Piper Sandler reissued a “neutral” rating and set a $180.00 target price (up from $165.00) on shares of Quest Diagnostics in a research note on Monday, February 3rd. Redburn Atlantic began coverage on shares of Quest Diagnostics in a research note on Wednesday, April 2nd. They issued a “buy” rating and a $195.00 target price for the company. Finally, JPMorgan Chase & Co. raised their price target on Quest Diagnostics from $173.00 to $180.00 and gave the company a “neutral” rating in a report on Tuesday, February 4th. Eight investment analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $181.33.

Quest Diagnostics Price Performance

DGX opened at $163.99 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 50-day moving average price of $168.48 and a 200-day moving average price of $159.77. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.10 and a quick ratio of 1.02. The firm has a market cap of $18.20 billion, a PE ratio of 21.32, a P/E/G ratio of 2.16 and a beta of 0.78.

Quest Diagnostics (NYSE:DGX) last announced its quarterly earnings data 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%. Sell-side analysts predict that Quest Diagnostics Incorporated will post 9.7 earnings per share for the current fiscal year.

Quest Diagnostics Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, April 7th will be given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 1.95%. This is an increase from Quest Diagnostics’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Monday, April 7th. Quest Diagnostics’s dividend payout ratio (DPR) is 41.61%.

About Quest Diagnostics

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.