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 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,210 shares of the company's stock after selling 22,230 shares during the period. Bank of America Corp DE's holdings in Ubiquiti were worth $1,397,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. BNP Paribas Financial Markets acquired a new position in shares of Ubiquiti during the 4th quarter worth approximately $484,000. Ameriprise Financial Inc. boosted its holdings in shares of Ubiquiti by 98.9% during the 4th quarter. Ameriprise Financial Inc. now owns 19,828 shares of the company's stock worth $6,581,000 after purchasing an additional 9,858 shares during the last quarter. Mercer Global Advisors Inc. ADV acquired a new position in shares of Ubiquiti during the 4th quarter worth approximately $338,000. Jane Street Group LLC boosted its holdings in shares of Ubiquiti by 826.2% during the 4th quarter. Jane Street Group LLC now owns 12,198 shares of the company's stock worth $4,049,000 after purchasing an additional 10,881 shares during the last quarter. Finally, AQR Capital Management LLC boosted its holdings in shares of Ubiquiti by 100.1% during the 4th quarter. AQR Capital Management LLC now owns 99,199 shares of the company's stock worth $32,927,000 after purchasing an additional 49,616 shares during the last quarter. 4.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on UI. BWS Financial restated a "buy" rating and set a $440.00 target price on shares of Ubiquiti in a report on Monday, May 12th. Barclays lifted their price target on shares of Ubiquiti from $222.00 to $247.00 and gave the company an "underweight" rating in a research report on Monday, May 12th.

Ubiquiti Trading Up 1.7%

Shares of UI stock traded up $7.05 during trading on Monday, hitting $415.59. 117,399 shares of the stock traded hands, compared to its average volume of 82,512. The firm has a market capitalization of $25.14 billion, a P/E ratio of 56.47 and a beta of 1.35. The company has a debt-to-equity ratio of 1.31, a current ratio of 2.22 and a quick ratio of 0.98. The firm's fifty day moving average price is $354.65 and its 200-day moving average price is $351.93. Ubiquiti Inc. has a 52-week low of $139.06 and a 52-week high of $469.98.

Ubiquiti Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 27th. Stockholders of record on Monday, May 19th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Monday, May 19th. This represents a $2.40 annualized dividend and a dividend yield of 0.58%. Ubiquiti's dividend payout ratio is currently 26.43%.

Ubiquiti Company 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.