LPL Financial LLC Sells 2,863 Shares of Quest Diagnostics Incorporated (NYSE:DGX)

LPL Financial LLC decreased its position in shares of Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 5.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 50,166 shares of the medical research company's stock after selling 2,863 shares during the period. LPL Financial LLC's holdings in Quest Diagnostics were worth $7,568,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Net Worth Advisory Group raised its holdings in shares of Quest Diagnostics by 1.0% during the 4th quarter. Net Worth Advisory Group now owns 6,495 shares of the medical research company's stock worth $980,000 after buying an additional 62 shares in the last quarter. Brooklyn Investment Group raised its stake in Quest Diagnostics by 5.5% during the fourth quarter. Brooklyn Investment Group now owns 1,315 shares of the medical research company's stock worth $198,000 after acquiring an additional 68 shares in the last quarter. Mather Group LLC. lifted its holdings in shares of Quest Diagnostics by 10.4% in the fourth quarter. Mather Group LLC. now owns 764 shares of the medical research company's stock worth $115,000 after acquiring an additional 72 shares during the last quarter. Private Trust Co. NA boosted its stake in shares of Quest Diagnostics by 7.7% in the 4th quarter. Private Trust Co. NA now owns 1,053 shares of the medical research company's stock valued at $159,000 after purchasing an additional 75 shares in the last quarter. Finally, Spire Wealth Management boosted its stake in shares of Quest Diagnostics by 8.0% in the 4th quarter. Spire Wealth Management now owns 1,139 shares of the medical research company's stock valued at $172,000 after purchasing an additional 84 shares in the last quarter. 88.06% of the stock is currently owned by institutional investors.

Quest Diagnostics Trading Down 0.1 %

NYSE DGX traded down $0.24 during mid-day trading on Thursday, reaching $163.82. 2,073,275 shares of the stock were exchanged, compared to its average volume of 945,856. The stock has a market cap of $18.18 billion, a P/E ratio of 21.30, a P/E/G ratio of 2.16 and a beta of 0.78. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.10 and a quick ratio of 1.02. Quest Diagnostics Incorporated has a one year low of $125.42 and a one year high of $178.87. The stock has a 50 day simple moving average of $168.51 and a 200-day simple moving average of $159.84.

Quest Diagnostics (NYSE:DGX - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The medical research company reported $2.23 earnings per share for the quarter, topping the consensus estimate of $2.19 by $0.04. Quest Diagnostics had a return on equity of 15.07% and a net margin of 8.80%. On average, analysts anticipate that Quest Diagnostics Incorporated will post 9.7 EPS for the current year.

Quest Diagnostics Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Shareholders of record on Monday, April 7th will be issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.95%. This is a boost 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 is presently 41.61%.

Insider Transactions at Quest Diagnostics

In related news, SVP Mark E. Delaney sold 403 shares of the 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 transaction, the senior vice president now directly owns 4,624 shares of the company's stock, valued at $759,723.20. This 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 on Wednesday, February 5th. The shares were sold at an average price of $164.57, for a total transaction 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 trade represents a 6.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 55,903 shares of company stock valued at $9,460,221 in the last quarter. 0.79% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Barclays increased their price objective on shares of Quest Diagnostics from $168.00 to $175.00 and gave the company an "equal weight" rating in a research note on Friday, January 31st. UBS Group raised 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. Citigroup cut Quest Diagnostics from a "buy" rating to a "neutral" rating and set a $185.00 target price for the company. in a report on Tuesday, March 4th. Redburn Partners set a $195.00 price target on Quest Diagnostics in a research note on Wednesday, April 2nd. Finally, JPMorgan Chase & Co. boosted their price target on Quest Diagnostics from $173.00 to $180.00 and gave the stock a "neutral" rating in a report on Tuesday, February 4th. Eight analysts have rated the stock with a hold rating, seven have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Quest Diagnostics presently has an average rating of "Moderate Buy" and a consensus price target of $181.33.

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.