Smith Salley Wealth Management Sells 145 Shares of United Parcel Service, Inc. (NYSE:UPS)

Smith Salley Wealth Management reduced its position in United Parcel Service, Inc. (NYSE:UPS) by 3.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,990 shares of the transportation company’s stock after selling 145 shares during the quarter. Smith Salley Wealth Management’s holdings in United Parcel Service were worth $546,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Northwest Financial Advisors bought a new position in United Parcel Service in the 4th quarter worth $28,000. TruNorth Capital Management LLC bought a new position in shares of United Parcel Service in the second quarter worth about $28,000. Security National Bank purchased a new stake in shares of United Parcel Service during the fourth quarter worth about $31,000. Pineridge Advisors LLC bought a new stake in United Parcel Service during the 4th quarter valued at approximately $31,000. Finally, Riverview Trust Co purchased a new position in United Parcel Service in the 2nd quarter worth approximately $32,000. 60.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on UPS shares. Bank of America cut their price objective on shares of United Parcel Service from $160.00 to $158.00 and set a “neutral” rating for the company in a report on Monday, July 22nd. Robert W. Baird reduced their price target on shares of United Parcel Service from $170.00 to $160.00 and set an “outperform” rating on the stock in a report on Wednesday, July 24th. JPMorgan Chase & Co. dropped their price objective on shares of United Parcel Service from $150.00 to $144.00 and set a “neutral” rating for the company in a report on Wednesday, July 24th. TD Cowen initiated coverage on United Parcel Service in a research report on Thursday, August 22nd. They set a “hold” rating and a $144.00 price objective for the company. Finally, Barclays cut their target price on shares of United Parcel Service from $145.00 to $120.00 and set an “equal weight” rating for the company in a report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $151.20.

Insider Buying and Selling at United Parcel Service

In other news, Director William R. Johnson purchased 5,000 shares of the company’s stock in a transaction dated Thursday, July 25th. The shares were acquired at an average price of $128.61 per share, with a total value of $643,050.00. Following the transaction, the director now owns 5,160 shares of the company’s stock, valued at $663,627.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.13% of the stock is currently owned by corporate insiders.

United Parcel Service Trading Up 1.2 %

Shares of NYSE:UPS traded up $1.57 on Friday, hitting $128.55. 4,103,700 shares of the company’s stock were exchanged, compared to its average volume of 4,240,978. The stock has a market capitalization of $110.11 billion, a price-to-earnings ratio of 18.63, a price-to-earnings-growth ratio of 1.90 and a beta of 0.98. United Parcel Service, Inc. has a 12 month low of $123.12 and a 12 month high of $172.75. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.25 and a quick ratio of 1.25. The business’s 50 day simple moving average is $132.63 and its two-hundred day simple moving average is $141.46.

United Parcel Service (NYSE:UPS) last announced its quarterly earnings data on Tuesday, July 23rd. The transportation company reported $1.79 earnings per share for the quarter, missing analysts’ consensus estimates of $1.99 by ($0.20). The company had revenue of $21.82 billion for the quarter, compared to the consensus estimate of $22.17 billion. United Parcel Service had a net margin of 5.87% and a return on equity of 35.27%. The company’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.54 EPS. Analysts anticipate that United Parcel Service, Inc. will post 7.43 EPS for the current fiscal year.

United Parcel Service Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Monday, August 19th will be issued a dividend of $1.63 per share. The ex-dividend date of this dividend is Monday, August 19th. This represents a $6.52 annualized dividend and a yield of 5.07%. United Parcel Service’s payout ratio is currently 94.49%.

About United Parcel Service

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.