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

Alpha Cubed Investments LLC lowered its stake in Ubiquiti Inc. (NYSE:UI - Free Report) by 25.0% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,797 shares of the company's stock after selling 600 shares during the quarter. Alpha Cubed Investments LLC's holdings in Ubiquiti were worth $557,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Golden State Wealth Management LLC acquired a new position in Ubiquiti during the first quarter worth $25,000. Versant Capital Management Inc raised its holdings in 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 buying an additional 92 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in Ubiquiti by 47.0% during the fourth quarter. Farther Finance Advisors LLC now owns 122 shares of the company's stock worth $40,000 after buying an additional 39 shares during the last quarter. Sterling Capital Management LLC raised its holdings in Ubiquiti by 30.2% during the fourth quarter. Sterling Capital Management LLC now owns 168 shares of the company's stock worth $56,000 after buying an additional 39 shares during the last quarter. Finally, Lazard Asset Management LLC acquired a new position in Ubiquiti during the fourth quarter worth $74,000. Institutional investors own 4.00% of the company's stock.

Analyst Ratings Changes

Several research analysts have weighed in on UI shares. Barclays upped their price objective 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 target price on shares of Ubiquiti in a research note on Monday, May 12th.

Ubiquiti Price Performance

Shares of NYSE UI traded down $1.51 during trading on Friday, hitting $398.11. The stock had a trading volume of 7,059 shares, compared to its average volume of 87,775. The company has a market capitalization of $24.08 billion, a PE ratio of 43.85 and a beta of 1.34. The firm has a fifty day moving average of $398.31 and a two-hundred day moving average of $360.31. Ubiquiti Inc. has a 12 month low of $153.49 and a 12 month high of $469.98.

Ubiquiti Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 27th. Investors 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 yield of 0.60%. Ubiquiti's payout ratio is currently 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.