Argent Trust Co increased its stake in Quest Diagnostics Inc (NYSE:DGX) by 2.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 24,575 shares of the medical research company’s stock after buying an additional 653 shares during the period. Argent Trust Co’s holdings in Quest Diagnostics were worth $2,046,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Legacy Financial Advisors Inc. bought a new stake in shares of Quest Diagnostics in the fourth quarter worth $45,000. Benjamin F. Edwards & Company Inc. increased its stake in shares of Quest Diagnostics by 32.7% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 544 shares of the medical research company’s stock worth $45,000 after buying an additional 134 shares during the last quarter. Ledyard National Bank increased its stake in shares of Quest Diagnostics by 83.3% in the fourth quarter. Ledyard National Bank now owns 1,100 shares of the medical research company’s stock worth $92,000 after buying an additional 500 shares during the last quarter. ETF Managers Group LLC increased its stake in shares of Quest Diagnostics by 17.7% in the fourth quarter. ETF Managers Group LLC now owns 1,322 shares of the medical research company’s stock worth $110,000 after buying an additional 199 shares during the last quarter. Finally, Capital Advisors Ltd. LLC bought a new stake in shares of Quest Diagnostics in the third quarter worth $123,000. Institutional investors and hedge funds own 87.19% of the company’s stock.
A number of brokerages recently issued reports on DGX. JPMorgan Chase & Co. dropped their price target on shares of Quest Diagnostics from $114.00 to $107.00 and set a “neutral” rating for the company in a research note on Wednesday, October 24th. Zacks Investment Research lowered shares of Quest Diagnostics from a “hold” rating to a “sell” rating in a research note on Thursday, January 24th. Credit Suisse Group restated a “buy” rating and issued a $121.00 price target on shares of Quest Diagnostics in a research note on Sunday, December 2nd. Barclays decreased their price objective on shares of Quest Diagnostics from $125.00 to $117.00 and set an “overweight” rating for the company in a report on Friday, November 30th. Finally, Goldman Sachs Group downgraded shares of Quest Diagnostics from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $110.00 to $90.00 in a report on Friday, November 30th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $104.56.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 30th. Shareholders of record on Tuesday, January 15th were issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date of this dividend was Monday, January 14th. This is an increase from Quest Diagnostics’s previous quarterly dividend of $0.50. Quest Diagnostics’s payout ratio is currently 39.26%.
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About Quest Diagnostics
Quest Diagnostics Incorporated provides diagnostic testing information and services in the United States and internationally. The company's Diagnostic Information Services business segment develops and delivers diagnostic testing information and services, such as routine testing, non-routine and advanced clinical testing, gene-based and esoteric testing, anatomic pathology, and other diagnostic information services.
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