529 Shares in Ubiquiti Inc. $UI Acquired by Accurate Wealth Management LLC

Key Points

• Accurate Wealth Management LLC acquired a stake in Ubiquiti Inc. during the 2nd quarter, purchasing 529 shares valued at approximately $211,000.
• Ubiquiti recently reported quarterly earnings of $3.54 per share, significantly surpassing analyst expectations of $2.23, along with revenue of $759.15 million.
• The company declared a quarterly dividend of $0.80 per share, up from its previous dividend of $0.60, representing a 0.5% yield.

Accurate Wealth Management LLC purchased a new stake in Ubiquiti Inc. (NYSE:UI - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 529 shares of the company's stock, valued at approximately $211,000.

Other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its position in Ubiquiti by 20.5% in the second quarter. GAMMA Investing LLC now owns 159 shares of the company's stock valued at $65,000 after acquiring an additional 27 shares in the last quarter. Wedmont Private Capital increased its holdings in Ubiquiti by 4.7% during the 2nd quarter. Wedmont Private Capital now owns 697 shares of the company's stock worth $281,000 after purchasing an additional 31 shares during the last quarter. US Bancorp DE raised its position in shares of Ubiquiti by 2.4% in the 1st quarter. US Bancorp DE now owns 1,564 shares of the company's stock valued at $485,000 after purchasing an additional 37 shares in the last quarter. Parallel Advisors LLC boosted its stake in shares of Ubiquiti by 6.0% during the 1st quarter. Parallel Advisors LLC now owns 727 shares of the company's stock valued at $225,000 after buying an additional 41 shares during the last quarter. Finally, Brooklyn Investment Group boosted its stake in shares of Ubiquiti by 78.8% during the 1st quarter. Brooklyn Investment Group now owns 93 shares of the company's stock valued at $29,000 after buying an additional 41 shares during the last quarter. 4.00% of the stock is owned by hedge funds and other institutional investors.

Ubiquiti Stock Up 1.2%

Shares of NYSE UI opened at $651.52 on Friday. The firm's 50-day moving average price is $514.78 and its two-hundred day moving average price is $415.47. Ubiquiti Inc. has a 52-week low of $215.62 and a 52-week high of $657.12. The stock has a market capitalization of $39.41 billion, a P/E ratio of 55.35 and a beta of 1.42.

Ubiquiti (NYSE:UI - Get Free Report) last announced its quarterly earnings results on Friday, August 22nd. The company reported $3.54 earnings per share for the quarter, topping analysts' consensus estimates of $2.23 by $1.31. Ubiquiti had a return on equity of 166.22% and a net margin of 27.66%.The business had revenue of $759.15 million for the quarter, compared to analysts' expectations of $618.80 million. During the same period in the prior year, the firm earned $1.74 EPS. As a group, equities research analysts expect that Ubiquiti Inc. will post 7.21 earnings per share for the current year.

Ubiquiti Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 8th. Stockholders of record on Tuesday, September 2nd were issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 0.5%. This is a positive change from Ubiquiti's previous quarterly dividend of $0.60. The ex-dividend date of this dividend was Tuesday, September 2nd. Ubiquiti's dividend payout ratio is presently 27.19%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on UI. UBS Group set a $600.00 price target on shares of Ubiquiti in a report on Monday, August 25th. BWS Financial boosted their target price on shares of Ubiquiti from $440.00 to $600.00 and gave the stock a "buy" rating in a research report on Monday, August 25th. Finally, Barclays increased their price target on shares of Ubiquiti from $247.00 to $299.00 and gave the stock an "underweight" rating in a research report on Friday, August 22nd. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $499.67.

About Ubiquiti

Ubiquiti Inc develops networking technology for service providers, enterprises, and consumers. The company develops technology platforms for high-capacity distributed Internet access, unified information technology, and consumer electronics for professional, home, and personal use. Its service provider product platforms offer carrier-class network infrastructure for fixed wireless broadband, wireless backhaul systems, and routing and related software; and enterprise product platforms provide wireless LAN infrastructure, video surveillance products, switching and routing solutions, security gateways, door access systems, and other WLAN products.

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