Atria Wealth Solutions Inc. Invests $247,000 in Ubiquiti Inc. $UI

Key Points

• Atria Wealth Solutions Inc. invested approximately $247,000 in Ubiquiti Inc., acquiring 600 shares during the 2nd quarter, as reported in its latest 13F filing.
• Ubiquiti recently announced a quarterly dividend increase to $0.80 per share, up from $0.60, reflecting a positive change and a yield of 0.4%.
• The company reported $3.54 earnings per share for the last quarter, significantly exceeding consensus estimates of $2.23, with a revenue of $759.15 million.

Atria Wealth Solutions Inc. bought a new position in shares of Ubiquiti Inc. (NYSE:UI - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 600 shares of the company's stock, valued at approximately $247,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Golden State Wealth Management LLC acquired a new position in shares of Ubiquiti during the 1st quarter worth approximately $25,000. Brooklyn Investment Group boosted its holdings in shares of Ubiquiti by 78.8% during the 1st quarter. Brooklyn Investment Group now owns 93 shares of the company's stock worth $29,000 after purchasing an additional 41 shares during the last quarter. Main Street Group LTD acquired a new position in shares of Ubiquiti during the 2nd quarter worth approximately $41,000. Iron Horse Wealth Management LLC acquired a new position in shares of Ubiquiti during the 2nd quarter worth approximately $54,000. Finally, GAMMA Investing LLC boosted its holdings in shares of Ubiquiti by 20.5% during the 2nd quarter. GAMMA Investing LLC now owns 159 shares of the company's stock worth $65,000 after purchasing an additional 27 shares during the last quarter. 4.00% of the stock is currently owned by institutional investors and hedge funds.

Ubiquiti Stock Down 2.3%

Shares of NYSE UI opened at $718.69 on Wednesday. The firm has a market cap of $43.47 billion, a price-to-earnings ratio of 61.06 and a beta of 1.44. Ubiquiti Inc. has a 52-week low of $245.00 and a 52-week high of $773.95. The business's 50 day moving average is $599.10 and its two-hundred day moving average is $461.66.

Ubiquiti (NYSE:UI - Get Free Report) last announced its earnings results on Friday, August 22nd. The company reported $3.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.23 by $1.31. The company had revenue of $759.15 million for the quarter, compared to analyst estimates of $618.80 million. Ubiquiti had a return on equity of 166.22% and a net margin of 27.66%.During the same quarter in the previous year, the company earned $1.74 earnings per share. Analysts anticipate that Ubiquiti Inc. will post 7.21 EPS for the current fiscal year.

Ubiquiti Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 8th. Shareholders of record on Tuesday, September 2nd were given a $0.80 dividend. The ex-dividend date of this dividend was Tuesday, September 2nd. 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 0.4%. Ubiquiti's dividend payout ratio is presently 27.19%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on UI shares. UBS Group set a $600.00 target price on Ubiquiti in a report on Monday, August 25th. BWS Financial boosted their target price on Ubiquiti from $600.00 to $720.00 and gave the stock a "buy" rating in a report on Monday, October 13th. Barclays upped their price objective on Ubiquiti from $247.00 to $299.00 and gave the company an "underweight" rating in a report on Friday, August 22nd. Finally, Weiss Ratings reiterated a "hold (c+)" rating on shares of Ubiquiti in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $539.67.

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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