Assetmark Inc. Increases Holdings in Ubiquiti Inc. (NYSE:UI)

Key Points

• Assetmark Inc. increased its stake in Ubiquiti Inc. by 45.2%, acquiring an additional 1,032 shares, bringing its total holdings to 3,314 shares worth approximately $1,028,000.
• The company announced a quarterly dividend of $0.60 per share, representing an annualized dividend yield of 0.6% and a payout ratio of 26.43% as of the latest reports.
• Ubiquiti's stock recently traded down by 1.9% to $427.23, with analysts setting price targets ranging from $247.00 to $440.00 per share.

Assetmark Inc. grew its position in shares of Ubiquiti Inc. (NYSE:UI - Free Report) by 45.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,314 shares of the company's stock after purchasing an additional 1,032 shares during the period. Assetmark Inc.'s holdings in Ubiquiti were worth $1,028,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC purchased a new position in shares of Ubiquiti in the first quarter worth about $25,000. Versant Capital Management Inc increased its holdings in shares of Ubiquiti by 484.2% in 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 period. Sterling Capital Management LLC increased its holdings in shares of Ubiquiti by 30.2% in 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 period. Lazard Asset Management LLC purchased a new position in shares of Ubiquiti in the fourth quarter worth about $74,000. Finally, Aster Capital Management DIFC Ltd increased its holdings in shares of Ubiquiti by 49.7% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 235 shares of the company's stock worth $78,000 after buying an additional 78 shares during the period. Institutional investors own 4.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. BWS Financial reiterated a "buy" rating and issued a $440.00 price objective on shares of Ubiquiti in a report on Friday, July 11th. Barclays lifted 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.

Ubiquiti Price Performance

NYSE:UI traded down $8.24 during mid-day trading on Friday, reaching $427.23. 104,715 shares of the company's stock traded hands, compared to its average volume of 104,197. Ubiquiti Inc. has a 12-month low of $156.94 and a 12-month high of $473.72. The firm has a market capitalization of $25.84 billion, a price-to-earnings ratio of 47.05 and a beta of 1.35. The company has a 50 day moving average price of $411.55 and a 200-day moving average price of $369.48.

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 issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Monday, May 19th. Ubiquiti's payout ratio is currently 26.43%.

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.