Abacus Planning Group Inc. Makes New $212,000 Investment in Ubiquiti Inc. $UI

Key Points

• Abacus Planning Group Inc. has made a new investment of $212,000 in Ubiquiti Inc., acquiring 515 shares during the second quarter.
• Ubiquiti recently reported earnings that significantly beat expectations, with an EPS of $3.54 compared to analyst estimates of $2.23.
• The company has proposed a quarterly dividend of $0.80, marking an increase from the previous $0.60 dividend, reflecting a 0.5% yield.

Abacus Planning Group Inc. purchased a new stake in Ubiquiti Inc. (NYSE:UI - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 515 shares of the company's stock, valued at approximately $212,000.

Other hedge funds have also modified their holdings of the company. Golden State Wealth Management LLC bought a new stake in Ubiquiti during the first quarter worth $25,000. Brooklyn Investment Group boosted its position in shares of Ubiquiti by 78.8% in the first quarter. Brooklyn Investment Group now owns 93 shares of the company's stock valued at $29,000 after acquiring an additional 41 shares during the period. Versant Capital Management Inc increased its holdings in shares of Ubiquiti by 484.2% during the first quarter. Versant Capital Management Inc now owns 111 shares of the company's stock worth $34,000 after purchasing an additional 92 shares during the period. Main Street Group LTD bought a new stake in shares of Ubiquiti during the 2nd quarter valued at $41,000. Finally, GAMMA Investing LLC increased its stake 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 during the last quarter. 4.00% of the stock is currently owned by institutional investors.

Ubiquiti Stock Performance

UI stock opened at $661.75 on Friday. Ubiquiti Inc. has a one year low of $220.41 and a one year high of $689.36. The company has a market capitalization of $40.03 billion, a PE ratio of 56.22 and a beta of 1.44. The company's 50 day moving average price is $536.77 and its two-hundred day moving average price is $427.66.

Ubiquiti (NYSE:UI - Get Free Report) last released its earnings results on Friday, August 22nd. The company reported $3.54 earnings per share for the quarter, beating analysts' consensus estimates of $2.23 by $1.31. The company had revenue of $759.15 million during the quarter, compared to analyst estimates of $618.80 million. Ubiquiti had a return on equity of 166.22% and a net margin of 27.66%.During the same quarter in the previous year, the company posted $1.74 EPS. On average, research analysts predict that Ubiquiti Inc. will post 7.21 EPS for the current year.

Ubiquiti Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. UBS Group set a $600.00 target price on shares of Ubiquiti in a research report on Monday, August 25th. Barclays raised their price objective on Ubiquiti from $247.00 to $299.00 and gave the company an "underweight" rating in a research note on Friday, August 22nd. BWS Financial increased their price objective on Ubiquiti from $440.00 to $600.00 and gave the stock a "buy" rating in a research note on Monday, August 25th. Finally, Weiss Ratings reiterated a "hold (c+)" rating on shares of Ubiquiti in a research note on Saturday, September 27th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $499.67.

Ubiquiti Profile

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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