09:39 AM EDT, 07/30/2024 (MT Newswires) -- United Parcel Service ( UPS ) was the stock pick of the week from Smart Insider after the company's chair purchased $643,034 worth of stock on Jul. 25.

William Johnson bought the shares at $128.61 apiece, Smart Insider said in a note to clients.

"It's interesting to see him buying now, making his first purchase despite a long tenure with the company," the note read.

Smart Insider also took note of the company's recent announcement that it was restarting its share buyback program, under which it was planning to repurchase $1 billion annually and $500 million in 2024.

Smart Insider ranked United Parcel Service's ( UPS ) stock "notable and positive signal"

Price: 128.61, Change: -0.22, Percent Change: -0.17