State of Alaska Department of Revenue Trims Holdings in Quest Diagnostics Incorporated (NYSE:DGX)

State of Alaska Department of Revenue lessened its position in Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 32.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,726 shares of the medical research company's stock after selling 6,155 shares during the period. State of Alaska Department of Revenue's holdings in Quest Diagnostics were worth $1,919,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Mizuho Securities USA LLC increased its holdings in Quest Diagnostics by 5,168.5% in the 3rd quarter. Mizuho Securities USA LLC now owns 451,403 shares of the medical research company's stock valued at $70,080,000 after buying an additional 442,835 shares during the period. BNP Paribas Financial Markets increased its holdings in Quest Diagnostics by 25.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 747,298 shares of the medical research company's stock valued at $116,018,000 after buying an additional 151,365 shares during the period. Assenagon Asset Management S.A. increased its holdings in Quest Diagnostics by 535.3% in the 4th quarter. Assenagon Asset Management S.A. now owns 128,440 shares of the medical research company's stock valued at $19,376,000 after buying an additional 108,224 shares during the period. Barclays PLC increased its holdings in Quest Diagnostics by 35.9% in the 3rd quarter. Barclays PLC now owns 298,922 shares of the medical research company's stock valued at $46,407,000 after buying an additional 78,980 shares during the period. Finally, State Street Corp increased its holdings in Quest Diagnostics by 1.4% in the 3rd quarter. State Street Corp now owns 5,263,231 shares of the medical research company's stock valued at $817,117,000 after buying an additional 70,578 shares during the period. Institutional investors own 88.06% of the company's stock.

Quest Diagnostics Stock Up 0.1 %

Shares of DGX stock traded up $0.25 during mid-day trading on Friday, reaching $168.97. 1,327,130 shares of the company's stock traded hands, compared to its average volume of 1,053,881. Quest Diagnostics Incorporated has a 12 month low of $123.30 and a 12 month high of $171.30. The company has a market cap of $18.86 billion, a P/E ratio of 21.97, a P/E/G ratio of 2.04 and a beta of 0.91. The company has a quick ratio of 1.02, a current ratio of 1.10 and a debt-to-equity ratio of 0.82. The company's 50-day moving average price is $156.13 and its 200-day moving average price is $155.07.

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

Quest Diagnostics Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 21st. Investors of record on Monday, April 7th will be paid a $0.80 dividend. This is a boost from Quest Diagnostics's previous quarterly dividend of $0.75. The ex-dividend date is Monday, April 7th. This represents a $3.20 dividend on an annualized basis and a yield of 1.89%. Quest Diagnostics's payout ratio is presently 41.61%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on DGX. Piper Sandler reaffirmed a "neutral" rating and set a $180.00 price target (up from $165.00) on shares of Quest Diagnostics in a report on Monday, February 3rd. Leerink Partners raised shares of Quest Diagnostics from a "market perform" rating to an "outperform" rating and lifted their price target for the company from $169.00 to $174.00 in a report on Monday, January 6th. Truist Financial lifted their price target on shares of Quest Diagnostics from $172.00 to $182.00 and gave the company a "hold" rating in a report on Friday, January 31st. Mizuho lifted their price target on shares of Quest Diagnostics from $177.00 to $178.00 and gave the company an "outperform" rating in a report on Monday, February 3rd. Finally, Jefferies Financial Group reaffirmed a "buy" rating and set a $185.00 price target (up from $175.00) on shares of Quest Diagnostics in a report on Tuesday, December 10th. Seven 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 company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $177.69.

Insider Buying and Selling

In related news, SVP Mark E. Delaney sold 403 shares of the company's stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $164.30, for a total value of $66,212.90. Following the transaction, the senior vice president now owns 4,624 shares in the company, valued at $759,723.20. The trade was a 8.02 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Vicky B. Gregg sold 1,250 shares of the company's stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $164.57, for a total transaction of $205,712.50. Following the completion of the transaction, the director now owns 16,867 shares in the company, valued at approximately $2,775,802.19. The trade was a 6.90 % decrease in their position. The disclosure for this sale can be found here. 0.79% of the stock is currently owned by company insiders.

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.