Quest Diagnostics Incorporated (NYSE:DGX) Shares Sold by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. lessened its holdings in Quest Diagnostics Incorporated (NYSE:DGX) by 16.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 7,494 shares of the medical research company’s stock after selling 1,481 shares during the period. First Citizens Bank & Trust Co.’s holdings in Quest Diagnostics were worth $1,131,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Quest Diagnostics Price Performance

Shares of Quest Diagnostics stock opened at $155.36 on Monday. The company has a current ratio of 1.25, a quick ratio of 1.17 and a debt-to-equity ratio of 0.83. The company’s 50-day moving average price is $155.66 and its two-hundred day moving average price is $153.21. Quest Diagnostics Incorporated has a 52 week low of $123.04 and a 52 week high of $165.32. The stock has a market cap of $17.34 billion, a PE ratio of 20.88, a price-to-earnings-growth ratio of 2.36 and a beta of 0.90.

Quest Diagnostics Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 29th. Shareholders of record on Tuesday, January 14th will be given a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.93%. The ex-dividend date of this dividend is Tuesday, January 14th. Quest Diagnostics’s dividend payout ratio (DPR) is presently 40.32%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on DGX. UBS Group boosted their price target on shares of Quest Diagnostics from $165.00 to $166.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. Leerink Partners raised shares of Quest Diagnostics from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $169.00 to $174.00 in a report on Monday, January 6th. Leerink Partnrs raised shares of Quest Diagnostics from a “hold” rating to a “strong-buy” rating in a report on Monday, January 6th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $185.00 price objective (up previously from $175.00) on shares of Quest Diagnostics in a report on Tuesday, December 10th. Finally, Piper Sandler upped their price objective on shares of Quest Diagnostics from $150.00 to $165.00 and gave the stock a “neutral” rating in a report on Monday, October 28th. Seven research analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Quest Diagnostics has a consensus rating of “Moderate Buy” and a consensus target price of $172.15.

Insiders Place Their Bets

In other Quest Diagnostics news, CAO Michael J. Deppe sold 18,755 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $154.05, for a total transaction of $2,889,207.75. Following the sale, the chief accounting officer now owns 34,941 shares in the company, valued at approximately $5,382,661.05. The trade was a 34.93 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.79% of the stock is owned by company insiders.

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.