Palumbo Wealth Management LLC Sells 277 Shares of United Parcel Service, Inc. (NYSE:UPS)

Palumbo Wealth Management LLC decreased its holdings in shares of United Parcel Service, Inc. (NYSE:UPS) by 9.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 2,806 shares of the transportation company’s stock after selling 277 shares during the period. Palumbo Wealth Management LLC’s holdings in United Parcel Service were worth $354,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of UPS. International Assets Investment Management LLC raised its holdings in United Parcel Service by 15,779.6% during the third quarter. International Assets Investment Management LLC now owns 14,631,461 shares of the transportation company’s stock worth $1,994,853,000 after buying an additional 14,539,321 shares during the last quarter. Two Sigma Advisers LP raised its holdings in United Parcel Service by 833.4% during the third quarter. Two Sigma Advisers LP now owns 2,074,100 shares of the transportation company’s stock worth $282,783,000 after buying an additional 1,851,900 shares during the last quarter. Van ECK Associates Corp raised its holdings in United Parcel Service by 1,061.1% during the third quarter. Van ECK Associates Corp now owns 1,772,765 shares of the transportation company’s stock worth $232,959,000 after buying an additional 1,620,091 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in United Parcel Service by 6.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 21,927,607 shares of the transportation company’s stock worth $2,989,609,000 after buying an additional 1,320,921 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in United Parcel Service by 5,136.2% during the third quarter. Assenagon Asset Management S.A. now owns 1,079,964 shares of the transportation company’s stock worth $147,242,000 after buying an additional 1,059,339 shares during the last quarter. Institutional investors and hedge funds own 60.26% of the company’s stock.

United Parcel Service Price Performance

Shares of NYSE:UPS opened at $116.37 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.17 and a debt-to-equity ratio of 1.16. The firm has a market capitalization of $99.31 billion, a PE ratio of 17.21, a P/E/G ratio of 1.50 and a beta of 0.98. United Parcel Service, Inc. has a twelve month low of $109.40 and a twelve month high of $158.95. The company has a 50-day moving average price of $124.53 and a two-hundred day moving average price of $128.78.

United Parcel Service (NYSE:UPS) last issued its earnings results on Thursday, January 30th. The transportation company reported $2.75 earnings per share for the quarter, topping analysts’ consensus estimates of $2.52 by $0.23. United Parcel Service had a net margin of 6.35% and a return on equity of 39.13%. During the same quarter last year, the firm earned $2.47 earnings per share. Equities analysts forecast that United Parcel Service, Inc. will post 7.99 EPS for the current year.

United Parcel Service Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Stockholders of record on Tuesday, February 18th will be given a $1.64 dividend. This is a positive change from United Parcel Service’s previous quarterly dividend of $1.63. This represents a $6.56 dividend on an annualized basis and a dividend yield of 5.64%. The ex-dividend date is Tuesday, February 18th. United Parcel Service’s dividend payout ratio (DPR) is 96.45%.

Insider Activity

In other news, insider Norman M. Brothers, Jr. sold 7,325 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $138.57, for a total value of $1,015,025.25. Following the completion of the transaction, the insider now directly owns 45,098 shares in the company, valued at approximately $6,249,229.86. This trade represents a 13.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.13% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have weighed in on UPS shares. Susquehanna lowered their price objective on shares of United Parcel Service from $140.00 to $130.00 and set a “neutral” rating on the stock in a report on Friday, January 31st. Stifel Nicolaus lowered their target price on shares of United Parcel Service from $156.00 to $153.00 and set a “buy” rating for the company in a report on Thursday, January 23rd. Oppenheimer increased their target price on shares of United Parcel Service from $140.00 to $146.00 and gave the company an “outperform” rating in a report on Monday, October 28th. Robert W. Baird downgraded shares of United Parcel Service from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $160.00 to $130.00 in a report on Friday, January 31st. Finally, Evercore ISI increased their target price on shares of United Parcel Service from $141.00 to $147.00 and gave the company an “in-line” rating in a report on Wednesday, January 22nd. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $140.73.

United Parcel Service Company 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.