American National Bank & Trust Reduces Position in Ubiquiti Inc. (NYSE:UI)

American National Bank & Trust cut its stake in shares of Ubiquiti Inc. (NYSE:UI - Free Report) by 30.2% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,707 shares of the company's stock after selling 1,169 shares during the period. American National Bank & Trust's holdings in Ubiquiti were worth $840,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in UI. Caprock Group LLC grew its position in Ubiquiti by 2.3% in the fourth quarter. Caprock Group LLC now owns 1,085 shares of the company's stock worth $360,000 after acquiring an additional 24 shares in the last quarter. National Bank of Canada FI grew its holdings in Ubiquiti by 10.4% during the 4th quarter. National Bank of Canada FI now owns 350 shares of the company's stock worth $116,000 after acquiring an additional 33 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in Ubiquiti by 47.0% during the 4th quarter. Farther Finance Advisors LLC now owns 122 shares of the company's stock worth $40,000 after acquiring an additional 39 shares during the last quarter. Sterling Capital Management LLC boosted its stake in shares of Ubiquiti by 30.2% in the 4th quarter. Sterling Capital Management LLC now owns 168 shares of the company's stock valued at $56,000 after purchasing an additional 39 shares during the last quarter. Finally, Parallel Advisors LLC boosted its stake in shares of Ubiquiti by 6.0% in the 1st quarter. Parallel Advisors LLC now owns 727 shares of the company's stock valued at $225,000 after purchasing an additional 41 shares during the last quarter. 4.00% of the stock is owned by hedge funds and other institutional investors.

Ubiquiti Stock Up 0.3%

Shares of UI traded up $1.26 during trading hours on Thursday, reaching $404.67. The stock had a trading volume of 31,977 shares, compared to its average volume of 82,312. The firm has a 50-day simple moving average of $349.04 and a 200 day simple moving average of $350.50. Ubiquiti Inc. has a 12 month low of $139.06 and a 12 month high of $469.98. The company has a market capitalization of $24.48 billion, a price-to-earnings ratio of 54.98 and a beta of 1.32. The company has a current ratio of 2.22, a quick ratio of 0.98 and a debt-to-equity ratio of 1.31.

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 issued 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 0.59%. Ubiquiti's payout ratio is presently 26.43%.

Analyst Ratings Changes

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