TD Asset Management Inc Invests $34.01 Million in Ubiquiti Inc. (NYSE:UI)

Key Points

• TD Asset Management Inc has acquired 109,670 shares of Ubiquiti Inc., valued at approximately $34 million, representing 0.18% of the company’s stock.
• Ubiquiti's stock traded down to $450.93, with a one-year high of $473.72 and a market cap of $27.28 billion.
• The company recently declared a quarterly dividend of $0.60, equating to a 0.53% dividend yield.

TD Asset Management Inc acquired a new stake in Ubiquiti Inc. (NYSE:UI - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 109,670 shares of the company's stock, valued at approximately $34,013,000. TD Asset Management Inc owned 0.18% of Ubiquiti as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of UI. Pacer Advisors Inc. grew its stake in shares of Ubiquiti by 76.2% during the 1st quarter. Pacer Advisors Inc. now owns 108,934 shares of the company's stock worth $33,785,000 after purchasing an additional 47,109 shares during the period. Assetmark Inc. grew its stake in shares of Ubiquiti by 45.2% during the 1st quarter. Assetmark Inc. now owns 3,314 shares of the company's stock worth $1,028,000 after purchasing an additional 1,032 shares during the period. AE Wealth Management LLC grew its stake in shares of Ubiquiti by 19.7% during the 1st quarter. AE Wealth Management LLC now owns 4,248 shares of the company's stock worth $1,317,000 after purchasing an additional 698 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in shares of Ubiquiti during the 1st quarter worth $575,000. Finally, Optimist Retirement Group LLC grew its stake in shares of Ubiquiti by 24.8% during the 1st quarter. Optimist Retirement Group LLC now owns 775 shares of the company's stock worth $240,000 after purchasing an additional 154 shares during the period. 4.00% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on UI shares. Barclays upped their price target on shares of Ubiquiti from $222.00 to $247.00 and gave the stock an "underweight" rating in a research note on Monday, May 12th. BWS Financial reiterated a "buy" rating and issued a $440.00 price objective on shares of Ubiquiti in a research report on Friday, July 11th.

Ubiquiti Stock Down 2.4%

Shares of Ubiquiti stock traded down $10.47 on Friday, hitting $425.00. The company's stock had a trading volume of 42,977 shares, compared to its average volume of 103,901. The company has a market capitalization of $25.71 billion, a P/E ratio of 46.73 and a beta of 1.34. The firm has a fifty day moving average price of $410.87 and a 200-day moving average price of $369.54. Ubiquiti Inc. has a 52-week low of $156.94 and a 52-week high of $473.72.

Ubiquiti Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 27th. Shareholders of record on Monday, May 19th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date was Monday, May 19th. Ubiquiti's dividend payout ratio is 26.43%.

Ubiquiti 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.