Ubiquiti Inc. (NYSE:UI) Position Trimmed by Alpha Cubed Investments LLC

Alpha Cubed Investments LLC decreased its position in shares of Ubiquiti Inc. (NYSE:UI - Free Report) by 25.0% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 1,797 shares of the company's stock after selling 600 shares during the period. Alpha Cubed Investments LLC's holdings in Ubiquiti were worth $557,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of UI. Illinois Municipal Retirement Fund acquired a new position in shares of Ubiquiti during the 1st quarter valued at about $571,000. Sei Investments Co. purchased a new stake in Ubiquiti in the fourth quarter valued at approximately $1,737,000. Raymond James Financial Inc. purchased a new stake in Ubiquiti in the fourth quarter valued at approximately $1,246,000. BNP Paribas Financial Markets acquired a new position in Ubiquiti during the fourth quarter worth approximately $484,000. Finally, Vanguard Group Inc. raised its stake in Ubiquiti by 2.5% during the fourth quarter. Vanguard Group Inc. now owns 94,505 shares of the company's stock worth $31,369,000 after purchasing an additional 2,294 shares during the period. Institutional investors and hedge funds own 4.00% of the company's stock.

Ubiquiti Price Performance

UI traded up $0.39 on Thursday, reaching $403.40. The company's stock had a trading volume of 138,513 shares, compared to its average volume of 104,114. Ubiquiti Inc. has a 1 year low of $153.49 and a 1 year high of $469.98. The business's 50 day moving average is $397.01 and its 200 day moving average is $359.93. The stock has a market cap of $24.40 billion, a price-to-earnings ratio of 44.43 and a beta of 1.34.

Ubiquiti Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 27th. Stockholders of record on Monday, May 19th were given a dividend of $0.60 per share. The ex-dividend date was Monday, May 19th. This represents a $2.40 annualized dividend and a dividend yield of 0.59%. Ubiquiti's payout ratio is 26.43%.

Analyst Ratings Changes

A number of analysts have recently commented on UI shares. Barclays upped their price objective on Ubiquiti from $222.00 to $247.00 and gave the stock an "underweight" rating in a report on Monday, May 12th. BWS Financial reissued a "buy" rating and issued a $440.00 price objective on shares of Ubiquiti in a research report on Monday, May 12th.

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.