American National Bank & Trust Has $951,000 Stake in Ubiquiti Inc. $UI

Key Points

• American National Bank & Trust has reduced its stake in Ubiquiti Inc. by 14.6%, holding 2,311 shares valued at approximately $951,000.
• Ubiquiti reported quarterly earnings of $3.54 per share, exceeding analysts' expectations of $2.23, with revenue of $759.15 million.
• The company has recently increased its quarterly dividend from $0.60 to $0.80, representing an annual yield of 0.5%.

American National Bank & Trust decreased its stake in Ubiquiti Inc. (NYSE:UI - Free Report) by 14.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,311 shares of the company's stock after selling 396 shares during the quarter. American National Bank & Trust's holdings in Ubiquiti were worth $951,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Illinois Municipal Retirement Fund acquired a new position in Ubiquiti in the first quarter valued at about $571,000. Maverick Capital Ltd. acquired a new position in Ubiquiti in the first quarter valued at about $1,293,000. Federated Hermes Inc. acquired a new position in Ubiquiti in the first quarter valued at about $404,000. Baron Wealth Management LLC acquired a new stake in shares of Ubiquiti during the second quarter worth about $382,000. Finally, Entropy Technologies LP acquired a new stake in shares of Ubiquiti during the first quarter worth about $327,000. Institutional investors and hedge funds own 4.00% of the company's stock.

Ubiquiti Stock Performance

NYSE:UI opened at $645.51 on Friday. The company has a market cap of $39.05 billion, a PE ratio of 54.84 and a beta of 1.42. Ubiquiti Inc. has a 52-week low of $215.62 and a 52-week high of $657.12. The stock has a 50-day simple moving average of $510.96 and a 200 day simple moving average of $413.06.

Ubiquiti (NYSE:UI - Get Free Report) last posted its quarterly earnings data on Friday, August 22nd. The company reported $3.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.23 by $1.31. The business had revenue of $759.15 million during the quarter, compared to the consensus estimate of $618.80 million. Ubiquiti had a return on equity of 166.22% and a net margin of 27.66%.During the same period last year, the company earned $1.74 earnings per share. On average, research analysts predict that Ubiquiti Inc. will post 7.21 earnings per share for the current fiscal year.

Ubiquiti Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 8th. Shareholders of record on Tuesday, September 2nd were paid a $0.80 dividend. This is a positive change from Ubiquiti's previous quarterly dividend of $0.60. This represents a $3.20 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was Tuesday, September 2nd. Ubiquiti's dividend payout ratio is 27.19%.

Analyst Upgrades and Downgrades

UI has been the topic of a number of research analyst reports. UBS Group set a $600.00 price target on Ubiquiti in a research report on Monday, August 25th. BWS Financial raised their price target on Ubiquiti from $440.00 to $600.00 and gave the stock a "buy" rating in a research report on Monday, August 25th. Finally, Barclays raised their price target on Ubiquiti from $247.00 to $299.00 and gave the stock an "underweight" rating in a research report on Friday, August 22nd. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $499.67.

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.

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