Prosperity Wealth Management Inc. Invests $228,000 in United Parcel Service, Inc. (NYSE:UPS)

Prosperity Wealth Management Inc. bought a new position in shares of United Parcel Service, Inc. (NYSE:UPS) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,451 shares of the transportation company’s stock, valued at approximately $228,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Pacific Center for Financial Services purchased a new stake in United Parcel Service during the 1st quarter worth about $25,000. IMA Wealth Inc. grew its stake in shares of United Parcel Service by 100.0% during the 2nd quarter. IMA Wealth Inc. now owns 142 shares of the transportation company’s stock valued at $25,000 after buying an additional 71 shares during the period. Worth Asset Management LLC purchased a new position in shares of United Parcel Service in the 1st quarter worth $27,000. Tennessee Valley Asset Management Partners acquired a new position in shares of United Parcel Service during the 4th quarter valued at $26,000. Finally, OFI Invest Asset Management acquired a new stake in United Parcel Service in the 3rd quarter valued at $25,000. 60.26% of the stock is owned by hedge funds and other institutional investors.

United Parcel Service Stock Performance

Shares of UPS stock opened at $142.25 on Thursday. The stock’s fifty day simple moving average is $149.65 and its 200-day simple moving average is $151.34. The company has a market capitalization of $121.29 billion, a price-to-earnings ratio of 18.26, a P/E/G ratio of 1.66 and a beta of 1.05. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 1.09. United Parcel Service, Inc. has a 1-year low of $133.68 and a 1-year high of $197.80.

United Parcel Service (NYSE:UPS) last released its earnings results on Tuesday, January 30th. The transportation company reported $2.47 earnings per share for the quarter, beating the consensus estimate of $2.46 by $0.01. The company had revenue of $24.92 billion for the quarter, compared to analysts’ expectations of $25.40 billion. United Parcel Service had a return on equity of 39.46% and a net margin of 7.37%. The business’s revenue for the quarter was down 7.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.62 EPS. On average, sell-side analysts predict that United Parcel Service, Inc. will post 8.2 earnings per share for the current fiscal year.

United Parcel Service Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Tuesday, February 20th were paid a $1.63 dividend. The ex-dividend date of this dividend was Friday, February 16th. This is an increase from United Parcel Service’s previous quarterly dividend of $1.62. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.58%. United Parcel Service’s dividend payout ratio is 83.70%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. HSBC dropped their price target on shares of United Parcel Service from $155.00 to $150.00 and set a “hold” rating on the stock in a research note on Thursday, March 28th. TD Cowen decreased their target price on shares of United Parcel Service from $147.00 to $140.00 and set a “hold” rating for the company in a research report on Thursday, March 28th. TheStreet upgraded shares of United Parcel Service from a “c” rating to a “b-” rating in a research report on Tuesday, January 30th. Barclays decreased their price objective on shares of United Parcel Service from $150.00 to $145.00 and set an “equal weight” rating for the company in a report on Wednesday, January 31st. Finally, Morgan Stanley boosted their target price on United Parcel Service from $95.00 to $100.00 and gave the stock an “underweight” rating in a report on Wednesday, March 27th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $165.61.

Insider Buying and Selling

In other news, Director Eva C. Boratto bought 1,400 shares of the stock in a transaction on Friday, February 2nd. The shares were purchased at an average price of $142.30 per share, for a total transaction of $199,220.00. Following the completion of the purchase, the director now directly owns 1,400 shares of the company’s stock, valued at approximately $199,220. The purchase was disclosed in a filing with the SEC, which is available through this link. 0.13% of the stock is owned by corporate insiders.

United Parcel Service Profile

United Parcel Service, Inc, a package delivery company, provides transportation and delivery, distribution, contract logistics, ocean freight, airfreight, customs brokerage, and insurance services. It operates through two segments, U.S. Domestic Package and International Package. The U.S. Domestic Package segment offers time-definite delivery of express letters, documents, small packages, and palletized freight through air and ground services in the United States.