9,653 Shares in United Parcel Service, Inc. (NYSE:UPS) Acquired by Meridian Wealth Management LLC

Meridian Wealth Management LLC purchased a new stake in United Parcel Service, Inc. (NYSE:UPS) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 9,653 shares of the transportation company’s stock, valued at approximately $1,316,000.

Other institutional investors have also modified their holdings of the company. TruNorth Capital Management LLC acquired a new stake in United Parcel Service in the second quarter valued at approximately $28,000. Riverview Trust Co acquired a new stake in shares of United Parcel Service in the 2nd quarter valued at $32,000. Centerpoint Advisors LLC lifted its position in shares of United Parcel Service by 291.7% during the 2nd quarter. Centerpoint Advisors LLC now owns 235 shares of the transportation company’s stock worth $32,000 after purchasing an additional 175 shares during the last quarter. Tortoise Investment Management LLC grew its stake in shares of United Parcel Service by 168.5% during the second quarter. Tortoise Investment Management LLC now owns 247 shares of the transportation company’s stock worth $34,000 after purchasing an additional 155 shares in the last quarter. Finally, PSI Advisors LLC increased its holdings in United Parcel Service by 408.2% in the third quarter. PSI Advisors LLC now owns 249 shares of the transportation company’s stock valued at $34,000 after buying an additional 200 shares during the last quarter. Institutional investors and hedge funds own 60.26% of the company’s stock.

Wall Street Analysts Forecast Growth

UPS has been the subject of several analyst reports. Citigroup lowered their price objective on United Parcel Service from $163.00 to $158.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. JPMorgan Chase & Co. reduced their target price on United Parcel Service from $140.00 to $139.00 and set a “neutral” rating for the company in a report on Friday, October 25th. Bank of America raised their price target on United Parcel Service from $132.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday, October 25th. Oppenheimer boosted their price objective on United Parcel Service from $140.00 to $146.00 and gave the company an “outperform” rating in a research note on Monday, October 28th. Finally, Susquehanna lifted their target price on shares of United Parcel Service from $135.00 to $140.00 and gave the company a “neutral” rating in a report on Friday, October 25th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $151.52.

United Parcel Service Price Performance

Shares of NYSE UPS opened at $134.82 on Friday. The company’s fifty day moving average is $132.98 and its two-hundred day moving average is $134.20. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.14 and a current ratio of 1.14. The firm has a market capitalization of $115.05 billion, a P/E ratio of 20.37, a PEG ratio of 2.16 and a beta of 0.99. United Parcel Service, Inc. has a one year low of $123.12 and a one year high of $163.82.

United Parcel Service (NYSE:UPS) last issued its earnings results on Thursday, October 24th. The transportation company reported $1.76 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.13. United Parcel Service had a net margin of 6.25% and a return on equity of 37.38%. The company had revenue of $22.20 billion for the quarter, compared to analyst estimates of $22.10 billion. During the same period in the prior year, the business posted $1.57 earnings per share. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. Analysts forecast that United Parcel Service, Inc. will post 7.48 EPS for the current fiscal year.

United Parcel Service Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Monday, November 18th will be given a dividend of $1.63 per share. The ex-dividend date is Monday, November 18th. This represents a $6.52 dividend on an annualized basis and a yield of 4.84%. United Parcel Service’s payout ratio is 98.49%.

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.