Ubiquiti Inc. (NYSE:UI) Stake Boosted by Northern Trust Corp

Northern Trust Corp increased its holdings in shares of Ubiquiti Inc. (NYSE:UI - Free Report) by 54.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 25,476 shares of the company's stock after purchasing an additional 8,955 shares during the period. Northern Trust Corp's holdings in Ubiquiti were worth $8,456,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC grew its position in Ubiquiti by 47.0% in the fourth quarter. Farther Finance Advisors LLC now owns 122 shares of the company's stock valued at $40,000 after acquiring an additional 39 shares in the last quarter. Venturi Wealth Management LLC boosted its stake in shares of Ubiquiti by 71.1% in the fourth quarter. Venturi Wealth Management LLC now owns 130 shares of the company's stock valued at $43,000 after purchasing an additional 54 shares during the period. Blue Trust Inc. grew its holdings in Ubiquiti by 78.8% during the 4th quarter. Blue Trust Inc. now owns 143 shares of the company's stock valued at $47,000 after purchasing an additional 63 shares in the last quarter. Financial Perspectives Inc grew its holdings in Ubiquiti by 152.2% during the 4th quarter. Financial Perspectives Inc now owns 169 shares of the company's stock valued at $56,000 after purchasing 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 during the period. 4.00% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have weighed in on UI shares. Barclays upped their price objective 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. BWS Financial reiterated a "buy" rating and issued a $440.00 price target on shares of Ubiquiti in a research note on Monday, May 12th.

Ubiquiti Stock Down 0.2%

Shares of UI stock traded down $0.93 during mid-day trading on Thursday, reaching $392.63. 65,696 shares of the company were exchanged, compared to its average volume of 82,102. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.98 and a current ratio of 2.22. The business's 50 day simple moving average is $332.89 and its 200 day simple moving average is $344.09. The company has a market capitalization of $23.75 billion, a P/E ratio of 53.35 and a beta of 1.32. Ubiquiti Inc. has a fifty-two week low of $139.06 and a fifty-two week high of $469.98.

Ubiquiti Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 27th. Shareholders of record on Monday, May 19th will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, May 19th. This represents a $2.40 dividend on an annualized basis and a yield of 0.61%. Ubiquiti's dividend payout ratio (DPR) is 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.