Quest Diagnostics (DGX) Declares $0.71 Dividend
Quest Diagnostics said on May 16, 2023 that its board of directors declared a regular quarterly dividend of $0.71 per share ($2.84 annualized). Previously, the company paid $0.71 per share.
Shares must be purchased before the ex-div date of July 10, 2023 to qualify for the dividend. Shareholders of record as of July 11, 2023 will receive the payment on July 25, 2023.
At the current share price of $130.56 / share, the stock's dividend yield is 2.18%.
Looking back five years and taking a sample every week, the average dividend yield has been 1.98%, the lowest has been 1.45%, and the highest has been 2.98%. The standard deviation of yields is 0.24 (n=237).
The current dividend yield is 0.83 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.40. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.27%, demonstrating that it has increased its dividend over time.
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What is the Fund Sentiment?
There are 1659 funds or institutions reporting positions in Quest Diagnostics. This is a decrease of 69 owner(s) or 3.99% in the last quarter. Average portfolio weight of all funds dedicated to DGX is 0.26%, a decrease of 0.13%. Total shares owned by institutions decreased in the last three months by 0.20% to 111,026K shares. 
The put/call ratio of DGX is 0.59, indicating a bullish outlook.
Analyst Price Forecast Suggests 15.31% Upside
As of May 11, 2023, the average one-year price target for Quest Diagnostics is 150.55. The forecasts range from a low of 141.40 to a high of $173.25. The average price target represents an increase of 15.31% from its latest reported closing price of 130.56.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Quest Diagnostics is 9,192MM, a decrease of 4.28%. The projected annual non-GAAP EPS is 8.57.
What are Other Shareholders Doing?
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 3,461K shares representing 3.09% ownership of the company. In it's prior filing, the firm reported owning 3,471K shares, representing a decrease of 0.30%. The firm increased its portfolio allocation in DGX by 17.39% over the last quarter.
Victory Capital Management holds 3,136K shares representing 2.80% ownership of the company. In it's prior filing, the firm reported owning 3,258K shares, representing a decrease of 3.90%. The firm decreased its portfolio allocation in DGX by 47.10% over the last quarter.
American Century Companies holds 2,729K shares representing 2.44% ownership of the company. In it's prior filing, the firm reported owning 1,682K shares, representing an increase of 38.36%. The firm increased its portfolio allocation in DGX by 41.49% over the last quarter.
VIMSX - Vanguard Mid-Cap Index Fund Investor Shares holds 2,648K shares representing 2.36% ownership of the company. In it's prior filing, the firm reported owning 2,689K shares, representing a decrease of 1.54%. The firm increased its portfolio allocation in DGX by 15.34% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 2,634K shares representing 2.35% ownership of the company. In it's prior filing, the firm reported owning 2,643K shares, representing a decrease of 0.35%. The firm increased its portfolio allocation in DGX by 17.06% over the last quarter.
Quest Diagnostics Background Information
(This description is provided by the company.)
Quest Diagnostics empowers people to take action to improve health outcomes. Derived from the world's largest database of clinical lab results, our diagnostic insights reveal new avenues to identify and treat disease, inspire healthy behaviors and improve health care management. Quest annually serves one in three adult Americans and half the physicians and hospitals in the United States, and our 47,000 employees understand that, in the right hands and with the right context, our diagnostic insights can inspire actions that transform lives.
Key filings for this company:
This story originally appeared on Fintel.