Ameriprise Financial Inc. Grows Stock Holdings in Ubiquiti Inc. (NYSE:UI)

Ameriprise Financial Inc. lifted its position in shares of Ubiquiti Inc. (NYSE:UI - Free Report) by 98.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,828 shares of the company's stock after acquiring an additional 9,858 shares during the quarter. Ameriprise Financial Inc.'s holdings in Ubiquiti were worth $6,581,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Farther Finance Advisors LLC increased its stake in Ubiquiti by 47.0% during the 4th quarter. Farther Finance Advisors LLC now owns 122 shares of the company's stock worth $40,000 after buying an additional 39 shares in the last quarter. Venturi Wealth Management LLC increased its stake in Ubiquiti by 71.1% during the 4th quarter. Venturi Wealth Management LLC now owns 130 shares of the company's stock worth $43,000 after buying an additional 54 shares in the last quarter. Blue Trust Inc. increased its stake in Ubiquiti by 78.8% during the 4th quarter. Blue Trust Inc. now owns 143 shares of the company's stock worth $47,000 after buying an additional 63 shares in the last quarter. Financial Perspectives Inc increased its stake in Ubiquiti by 152.2% during the 4th quarter. Financial Perspectives Inc now owns 169 shares of the company's stock worth $56,000 after buying an additional 102 shares in the last quarter. Finally, Sterling Capital Management LLC increased its stake in Ubiquiti by 30.2% during the 4th quarter. Sterling Capital Management LLC now owns 168 shares of the company's stock worth $56,000 after buying an additional 39 shares in the last quarter. 4.00% of the stock is owned by hedge funds and other institutional investors.

Ubiquiti Trading Down 0.8%

UI traded down $3.36 during trading hours on Wednesday, reaching $402.24. The company's stock had a trading volume of 3,226 shares, compared to its average volume of 81,913. Ubiquiti Inc. has a fifty-two week low of $139.06 and a fifty-two week high of $469.98. The stock has a market cap of $24.33 billion, a PE ratio of 54.79 and a beta of 1.32. The business's 50-day moving average is $339.14 and its 200-day moving average is $348.09. The company has a debt-to-equity ratio of 1.31, a current ratio of 2.22 and a quick ratio of 0.98.

Ubiquiti Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 27th. Investors of record on Monday, May 19th were issued a $0.60 dividend. The ex-dividend date of this dividend was Monday, May 19th. This represents a $2.40 annualized dividend and a yield of 0.60%. Ubiquiti's dividend payout ratio (DPR) is presently 26.43%.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Barclays boosted their price objective on Ubiquiti from $222.00 to $247.00 and gave the stock an "underweight" rating in a research note 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 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.