AE Wealth Management LLC Purchases 698 Shares of 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 increased its position in shares of Ubiquiti Inc. (NYSE:UI - Free Report) by 19.7% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,248 shares of the company's stock after acquiring an additional 698 shares during the period. AE Wealth Management LLC's holdings in Ubiquiti were worth $1,317,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of UI. National Bank of Canada FI grew its position in shares of Ubiquiti by 10.4% in the 4th quarter. National Bank of Canada FI now owns 350 shares of the company's stock valued at $116,000 after buying an additional 33 shares during the last quarter. Sterling Capital Management LLC grew its position in shares of Ubiquiti by 30.2% in the 4th quarter. Sterling Capital Management LLC now owns 168 shares of the company's stock valued at $56,000 after buying an additional 39 shares during the last quarter. Parallel Advisors LLC grew its position in shares of Ubiquiti by 6.0% in 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. Raleigh Capital Management Inc. grew its position in shares of Ubiquiti by 26.2% in the 1st quarter. Raleigh Capital Management Inc. now owns 361 shares of the company's stock valued at $112,000 after buying an additional 75 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd grew its position in shares of Ubiquiti by 49.7% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 235 shares of the company's stock valued at $78,000 after buying an additional 78 shares during the last quarter. Institutional investors own 4.00% of the company's stock.

Wall Street Analyst Weigh In

UI has been the topic of several research analyst reports. BWS Financial restated a "buy" rating and set a $440.00 target price on shares of Ubiquiti in a research report on Friday, July 11th. Barclays upped their price target on Ubiquiti from $222.00 to $247.00 and gave the stock an "underweight" rating in a research note on Monday, May 12th.

Ubiquiti Price Performance

Shares of UI stock traded up $12.57 during trading hours on Monday, reaching $459.03. The company had a trading volume of 89,845 shares, compared to its average volume of 105,978. Ubiquiti Inc. has a 12 month low of $156.94 and a 12 month high of $469.98. The business has a fifty day simple moving average of $408.38 and a 200-day simple moving average of $368.06. The company has a market cap of $27.77 billion, a price-to-earnings ratio of 50.55 and a beta of 1.34.

Ubiquiti Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 27th. Shareholders of record on Monday, May 19th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $2.40 dividend on an annualized basis and a yield of 0.52%. Ubiquiti's dividend payout ratio is presently 26.43%.

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.