Bank of America Corp DE Lowers Stock Holdings in Ubiquiti Inc. (NYSE:UI)

Bank of America Corp DE trimmed its position in Ubiquiti Inc. (NYSE:UI - Free Report) by 84.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,210 shares of the company's stock after selling 22,230 shares during the quarter. Bank of America Corp DE's holdings in Ubiquiti were worth $1,397,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Versor Investments LP boosted its holdings in Ubiquiti by 254.5% in the fourth quarter. Versor Investments LP now owns 3,900 shares of the company's stock valued at $1,295,000 after acquiring an additional 2,800 shares in the last quarter. Barclays PLC raised its position in Ubiquiti by 4,880.2% in the 3rd quarter. Barclays PLC now owns 13,347 shares of the company's stock worth $2,959,000 after buying an additional 13,079 shares during the last quarter. Convergence Investment Partners LLC purchased a new position in Ubiquiti in the 4th quarter worth about $2,180,000. Sei Investments Co. purchased a new stake in shares of Ubiquiti during the 4th quarter valued at about $1,737,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Ubiquiti during the 4th quarter valued at about $1,246,000. 4.00% of the stock is owned by hedge funds and other institutional investors.

Ubiquiti Stock Down 0.1%

Shares of UI opened at $402.84 on Friday. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.98 and a current ratio of 2.22. Ubiquiti Inc. has a one year low of $139.06 and a one year high of $469.98. The stock has a market capitalization of $24.37 billion, a price-to-earnings ratio of 54.73 and a beta of 1.32. The stock has a 50 day moving average price of $350.92 and a 200 day moving average price of $350.96.

Ubiquiti Announces Dividend

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

Analyst Upgrades and Downgrades

UI has been the subject of several recent analyst reports. BWS Financial restated a "buy" rating and issued a $440.00 price target on shares of Ubiquiti in a research note on Monday, May 12th. Barclays increased their target price on Ubiquiti from $222.00 to $247.00 and gave the stock an "underweight" rating in a research note on Monday, May 12th.

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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