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

Palumbo Wealth Management LLC lowered its holdings in United Parcel Service, Inc. (NYSE:UPS) by 9.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm 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 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. State Street Corp boosted its holdings in United Parcel Service by 2.1% in the 3rd quarter. State Street Corp now owns 29,597,425 shares of the transportation company’s stock valued at $4,035,313,000 after purchasing an additional 613,409 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in United Parcel Service by 6.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 21,927,607 shares of the transportation company’s stock valued at $2,989,609,000 after purchasing an additional 1,320,921 shares during the period. Geode Capital Management LLC boosted its holdings in United Parcel Service by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 15,289,624 shares of the transportation company’s stock valued at $2,080,170,000 after purchasing an additional 373,202 shares during the period. International Assets Investment Management LLC boosted its holdings in United Parcel Service by 15,779.6% in the 3rd quarter. International Assets Investment Management LLC now owns 14,631,461 shares of the transportation company’s stock valued at $1,994,853,000 after purchasing an additional 14,539,321 shares during the period. Finally, FMR LLC boosted its holdings in United Parcel Service by 3.7% in the 3rd quarter. FMR LLC now owns 10,627,550 shares of the transportation company’s stock valued at $1,448,960,000 after purchasing an additional 380,229 shares during the period. Institutional investors own 60.26% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on UPS shares. The Goldman Sachs Group dropped their target price on shares of United Parcel Service from $166.00 to $147.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Robert W. Baird cut shares of United Parcel Service from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $160.00 to $130.00 in a research report on Friday, January 31st. Susquehanna dropped their target price on shares of United Parcel Service from $140.00 to $130.00 and set a “neutral” rating for the company in a research report on Friday, January 31st. JPMorgan Chase & Co. dropped their target price on shares of United Parcel Service from $135.00 to $120.00 and set a “neutral” rating for the company in a research report on Friday, January 31st. Finally, Bank of America dropped their target price on shares of United Parcel Service from $150.00 to $133.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Two equities research analysts have rated the stock with a sell rating, eight have assigned 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $140.73.

Insider Activity

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

United Parcel Service Trading Up 0.6 %

UPS opened at $116.37 on Friday. United Parcel Service, Inc. has a fifty-two week low of $109.40 and a fifty-two week high of $158.95. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.17 and a quick ratio of 1.14. The firm has a market capitalization of $99.31 billion, a price-to-earnings ratio of 17.21, a PEG ratio of 1.50 and a beta of 0.98. The company’s 50 day moving average price is $124.53 and its two-hundred day moving average price is $128.78.

United Parcel Service (NYSE:UPS) last posted its quarterly earnings data on Thursday, January 30th. The transportation company reported $2.75 EPS for the quarter, beating 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 period last year, the company posted $2.47 EPS. As a group, research analysts predict that United Parcel Service, Inc. will post 7.99 earnings per share 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 paid 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 is currently 96.45%.

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.