AE Wealth Management LLC Grows Holdings in Ubiquiti Inc. (NYSE:UI)

Key Points

• AE Wealth Management LLC increased its stake in Ubiquiti Inc. by 19.7%, acquiring a total of 4,248 shares worth approximately $1.32 million.
• Ubiquiti recently announced a quarterly dividend of $0.60 per share, translating to an annualized dividend yield of 0.54%.
• According to analyst ratings, BWS Financial reaffirmed a "buy" rating for Ubiquiti with a target price of $440.00, while Barclays raised its price target from $222.00 to $247.00.

AE Wealth Management LLC raised its holdings in shares of Ubiquiti Inc. (NYSE:UI - Free Report) by 19.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,248 shares of the company's stock after acquiring an additional 698 shares during the quarter. AE Wealth Management LLC's holdings in Ubiquiti were worth $1,317,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Y Intercept Hong Kong Ltd acquired a new position in Ubiquiti in the first quarter valued at approximately $575,000. Optimist Retirement Group LLC increased its holdings in shares of Ubiquiti by 24.8% during the first quarter. Optimist Retirement Group LLC now owns 775 shares of the company's stock worth $240,000 after buying an additional 154 shares in the last quarter. IFP Advisors Inc raised its holdings in Ubiquiti by 3,212.5% in the first quarter. IFP Advisors Inc now owns 530 shares of the company's stock worth $164,000 after purchasing an additional 514 shares during the period. Impact Partnership Wealth LLC grew its position in Ubiquiti by 11.2% in the first quarter. Impact Partnership Wealth LLC now owns 1,064 shares of the company's stock valued at $330,000 after purchasing an additional 107 shares in the last quarter. Finally, Diversify Advisory Services LLC raised its position in shares of Ubiquiti by 19.2% in the 1st quarter. Diversify Advisory Services LLC now owns 905 shares of the company's stock valued at $294,000 after buying an additional 146 shares in the last quarter. 4.00% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on UI. Barclays lifted their target price on shares of Ubiquiti from $222.00 to $247.00 and gave the stock an "underweight" rating in a research report on Monday, May 12th. BWS Financial restated a "buy" rating and set a $440.00 price target on shares of Ubiquiti in a research report on Friday, July 11th.

Ubiquiti Stock Up 0.8%

NYSE UI traded up $3.33 on Thursday, reaching $431.77. The company had a trading volume of 31,207 shares, compared to its average volume of 103,802. Ubiquiti Inc. has a 12 month low of $156.94 and a 12 month high of $473.72. The stock has a market capitalization of $26.12 billion, a PE ratio of 47.53 and a beta of 1.34. The firm's 50 day moving average price is $410.03 and its 200 day moving average price is $369.06.

Ubiquiti Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 27th. Shareholders of record on Monday, May 19th were paid a dividend of $0.60 per share. The ex-dividend date was Monday, May 19th. This represents a $2.40 dividend on an annualized basis and a yield of 0.56%. Ubiquiti's payout ratio is 26.43%.

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.