Salem Investment Counselors Inc. Lowers Stock Holdings in Ubiquiti Inc. (NYSE:UI)

Salem Investment Counselors Inc. lessened its position in shares of Ubiquiti Inc. (NYSE:UI - Free Report) by 3.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 20,480 shares of the company's stock after selling 700 shares during the quarter. Salem Investment Counselors Inc.'s holdings in Ubiquiti were worth $6,352,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Versant Capital Management Inc increased its stake in Ubiquiti by 484.2% during the 1st quarter. Versant Capital Management Inc now owns 111 shares of the company's stock worth $34,000 after buying an additional 92 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in Ubiquiti by 47.0% in the 4th quarter. Farther Finance Advisors LLC now owns 122 shares of the company's stock valued at $40,000 after purchasing an additional 39 shares in the last quarter. Venturi Wealth Management LLC grew its holdings in shares of Ubiquiti by 71.1% during the fourth quarter. Venturi Wealth Management LLC now owns 130 shares of the company's stock worth $43,000 after buying an additional 54 shares in the last quarter. Sterling Capital Management LLC raised its position in shares of Ubiquiti by 30.2% in the fourth quarter. Sterling Capital Management LLC now owns 168 shares of the company's stock valued at $56,000 after buying an additional 39 shares during the last quarter. Finally, Financial Perspectives Inc lifted its stake in shares of Ubiquiti by 152.2% in the fourth quarter. Financial Perspectives Inc now owns 169 shares of the company's stock worth $56,000 after buying an additional 102 shares in the last quarter. Hedge funds and other institutional investors own 4.00% of the company's stock.

Ubiquiti Trading Down 0.8%

NYSE:UI traded down $2.89 on Monday, hitting $379.81. The stock had a trading volume of 95,803 shares, compared to its average volume of 100,148. The company has a fifty day moving average price of $363.88 and a two-hundred day moving average price of $353.06. The stock has a market cap of $22.98 billion, a price-to-earnings ratio of 51.60 and a beta of 1.35. The company has a quick ratio of 0.98, a current ratio of 2.22 and a debt-to-equity ratio of 1.31. Ubiquiti Inc. has a 1-year low of $139.06 and a 1-year high of $469.98.

Ubiquiti Announces Dividend

The business 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 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date of this dividend was Monday, May 19th. Ubiquiti's dividend payout ratio (DPR) is 26.43%.

Wall Street Analyst Weigh In

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

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.