United Parcel Service, Inc. (NYSE:UPS) Shares Sold by Convergence Financial LLC

Convergence Financial LLC lessened its holdings in shares of United Parcel Service, Inc. (NYSE:UPS) by 41.1% in the third quarter, according to its most recent filing with the SEC. The firm owned 1,640 shares of the transportation company’s stock after selling 1,145 shares during the quarter. Convergence Financial LLC’s holdings in United Parcel Service were worth $224,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. 180 Wealth Advisors LLC raised its stake in shares of United Parcel Service by 8.3% in the 1st quarter. 180 Wealth Advisors LLC now owns 1,657 shares of the transportation company’s stock worth $246,000 after buying an additional 127 shares in the last quarter. Vicus Capital bought a new stake in shares of United Parcel Service in the 1st quarter worth $461,000. Founders Financial Securities LLC raised its stake in shares of United Parcel Service by 3.9% in the 1st quarter. Founders Financial Securities LLC now owns 7,297 shares of the transportation company’s stock worth $1,085,000 after buying an additional 271 shares in the last quarter. Cornerstone Wealth Group LLC raised its stake in shares of United Parcel Service by 25.5% in the 1st quarter. Cornerstone Wealth Group LLC now owns 3,122 shares of the transportation company’s stock worth $464,000 after buying an additional 635 shares in the last quarter. Finally, Trilogy Capital Inc. raised its stake in shares of United Parcel Service by 9.3% in the 1st quarter. Trilogy Capital Inc. now owns 18,170 shares of the transportation company’s stock worth $2,701,000 after buying an additional 1,551 shares in 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 $137.43 on Friday. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.18. United Parcel Service, Inc. has a 1 year low of $123.12 and a 1 year high of $163.82. The business has a fifty day simple moving average of $130.89 and a 200 day simple moving average of $135.98. The firm has a market cap of $117.72 billion, a price-to-earnings ratio of 22.42, a P/E/G ratio of 1.93 and a beta of 0.99.

United Parcel Service (NYSE:UPS) last announced its quarterly earnings data on Thursday, October 24th. The transportation company reported $1.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.65 by $0.11. United Parcel Service had a return on equity of 35.27% and a net margin of 5.87%. The business had revenue of $22.20 billion during the quarter, compared to analyst estimates of $22.10 billion. During the same period last year, the company earned $1.57 earnings per share. United Parcel Service’s quarterly revenue was up 5.4% compared to the same quarter last year. As a group, sell-side analysts predict that United Parcel Service, Inc. will post 7.44 earnings per share for the current fiscal year.

United Parcel Service Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Monday, August 19th were issued a dividend of $1.63 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $6.52 annualized dividend and a yield of 4.74%. United Parcel Service’s dividend payout ratio (DPR) is currently 106.36%.

Wall Street Analysts Forecast Growth

UPS has been the topic of a number of research reports. Bank of America boosted their price objective on United Parcel Service from $132.00 to $150.00 and gave the stock a “neutral” rating in a research note on Friday. The Goldman Sachs Group cut their target price on United Parcel Service from $165.00 to $162.00 and set a “buy” rating on the stock in a research report on Wednesday, October 9th. Susquehanna increased their price target on United Parcel Service from $135.00 to $140.00 and gave the company a “neutral” rating in a research report on Friday. Evercore ISI boosted their price objective on United Parcel Service from $138.00 to $141.00 and gave the stock an “in-line” rating in a report on Tuesday, October 22nd. Finally, TD Cowen began coverage on shares of United Parcel Service in a report on Thursday, August 22nd. They issued a “hold” rating and a $144.00 target price for the company. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, ten have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, United Parcel Service presently has an average rating of “Moderate Buy” and a consensus price target of $151.43.

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.