Alpha Cubed Investments LLC Reduces Holdings in Ubiquiti Inc. (NYSE:UI)

Alpha Cubed Investments LLC trimmed its holdings in shares of Ubiquiti Inc. (NYSE:UI - Free Report) by 25.0% in the first quarter, according to its most recent filing 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 filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Arrowstreet Capital Limited Partnership lifted its stake in Ubiquiti by 926.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 113,305 shares of the company's stock valued at $37,609,000 after buying an additional 102,268 shares in the last quarter. AQR Capital Management LLC raised its position in Ubiquiti by 100.1% during the fourth quarter. AQR Capital Management LLC now owns 99,199 shares of the company's stock worth $32,927,000 after acquiring an additional 49,616 shares in the last quarter. Norges Bank acquired a new position in shares of Ubiquiti in the fourth quarter valued at $16,166,000. Proficio Capital Partners LLC acquired a new position in shares of Ubiquiti in the fourth quarter valued at about $15,425,000. Finally, GAMMA Investing LLC grew its stake in shares of Ubiquiti by 37,116.4% in the first quarter. GAMMA Investing LLC now owns 40,938 shares of the company's stock valued at $12,697,000 after acquiring an additional 40,828 shares in the last quarter. 4.00% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Ubiquiti Stock Down 0.6%

UI stock traded down $2.36 during midday trading on Wednesday, reaching $403.47. 114,102 shares of the company's stock traded hands, compared to its average volume of 87,621. The company has a market cap of $24.41 billion, a price-to-earnings ratio of 44.44 and a beta of 1.34. The firm's fifty day moving average price is $395.48 and its 200-day moving average price is $359.63. Ubiquiti Inc. has a 52 week low of $149.45 and a 52 week high of $469.98.

Ubiquiti Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 27th. Investors of record on Monday, May 19th were paid a $0.60 dividend. 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%.

Ubiquiti Company 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.