Tocqueville Asset Management L.P. Has $18.43 Million Stock Position in Quest Diagnostics Incorporated (NYSE:DGX)

Tocqueville Asset Management L.P. cut its holdings in Quest Diagnostics Incorporated (NYSE:DGX - Free Report) by 2.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 122,135 shares of the medical research company's stock after selling 2,759 shares during the quarter. Tocqueville Asset Management L.P. owned approximately 0.11% of Quest Diagnostics worth $18,425,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Net Worth Advisory Group grew its holdings in 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 acquiring an additional 62 shares during the last quarter. Brooklyn Investment Group grew its stake in shares of Quest Diagnostics by 5.5% during the fourth quarter. Brooklyn Investment Group now owns 1,315 shares of the medical research company's stock valued at $198,000 after purchasing an additional 68 shares during the last quarter. Avestar Capital LLC increased its holdings in shares of Quest Diagnostics by 1.1% in the third quarter. Avestar Capital LLC now owns 6,288 shares of the medical research company's stock valued at $976,000 after purchasing an additional 71 shares in the last quarter. Mather Group LLC. lifted its holdings in shares of Quest Diagnostics by 10.4% during the 4th quarter. Mather Group LLC. now owns 764 shares of the medical research company's stock valued at $115,000 after purchasing an additional 72 shares in the last quarter. Finally, Private Trust Co. NA grew its position 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 during the period. 88.06% of the stock is currently owned by institutional investors and hedge funds.

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Insider Buying and Selling at Quest Diagnostics

In other Quest Diagnostics news, EVP Catherine T. Doherty sold 5,370 shares of the company's stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $174.13, for a total value of $935,078.10. Following the transaction, the executive vice president now directly owns 68,068 shares in the company, valued at $11,852,680.84. The trade was a 7.31 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction of $66,212.90. Following the sale, the senior vice president now owns 4,624 shares of the company's stock, valued at approximately $759,723.20. This represents a 8.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 14,157 shares of company stock worth $2,423,755 over the last 90 days. Company insiders own 0.79% of the company's stock.

Quest Diagnostics Stock Up 0.3 %

Shares of NYSE DGX traded up $0.50 during trading hours on Friday, hitting $166.96. The company had a trading volume of 1,437,214 shares, compared to its average volume of 1,132,396. Quest Diagnostics Incorporated has a 1-year low of $125.42 and a 1-year high of $178.87. 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 firm's 50 day moving average is $164.88 and its 200-day moving average is $158.53. The stock has a market capitalization of $18.53 billion, a P/E ratio of 21.71, a price-to-earnings-growth ratio of 2.16 and a beta of 0.92.

Quest Diagnostics (NYSE:DGX - Get Free Report) last announced its quarterly 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, analysts expect that Quest Diagnostics Incorporated will post 9.7 earnings per share for the current fiscal 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 given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date is Monday, April 7th. This is an increase from Quest Diagnostics's previous quarterly dividend of $0.75. Quest Diagnostics's payout ratio is 41.61%.

Analysts Set New Price Targets

DGX has been the topic of a number of research reports. 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 research note on Friday, January 31st. Piper Sandler reaffirmed a "neutral" rating and issued a $180.00 price objective (up from $165.00) on shares of Quest Diagnostics in a research report on Monday, February 3rd. Barclays upped their target price on shares of Quest Diagnostics from $168.00 to $175.00 and gave the stock an "equal weight" rating in a research note on Friday, January 31st. Morgan Stanley raised Quest Diagnostics from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $145.00 to $172.00 in a research note on Tuesday, December 17th. Finally, Jefferies Financial Group reaffirmed a "buy" rating and set a $185.00 price objective (up from $175.00) on shares of Quest Diagnostics in a research report on Tuesday, December 10th. Eight investment analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $178.38.

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.