Vest Financial LLC Acquires Shares of 859 Ubiquiti Inc. (NYSE:UI)

Vest Financial LLC acquired a new stake in shares of Ubiquiti Inc. (NYSE:UI - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 859 shares of the company's stock, valued at approximately $266,000.

A number of other large investors have also added to or reduced their stakes in UI. Versant Capital Management Inc raised its stake in Ubiquiti by 484.2% during the first quarter. Versant Capital Management Inc now owns 111 shares of the company's stock valued at $34,000 after buying an additional 92 shares during the last quarter. Farther Finance Advisors LLC raised its stake in Ubiquiti by 47.0% during the fourth quarter. Farther Finance Advisors LLC now owns 122 shares of the company's stock valued at $40,000 after buying an additional 39 shares during the last quarter. Venturi Wealth Management LLC raised its stake in Ubiquiti by 71.1% during the fourth quarter. Venturi Wealth Management LLC now owns 130 shares of the company's stock valued at $43,000 after buying an additional 54 shares during the last quarter. Blue Trust Inc. raised its stake in Ubiquiti by 78.8% during the fourth quarter. Blue Trust Inc. now owns 143 shares of the company's stock valued at $47,000 after buying an additional 63 shares during the last quarter. Finally, Financial Perspectives Inc raised its stake in Ubiquiti by 152.2% during the fourth quarter. Financial Perspectives Inc now owns 169 shares of the company's stock valued at $56,000 after buying an additional 102 shares during the last quarter. Hedge funds and other institutional investors own 4.00% of the company's stock.

Ubiquiti Stock Up 1.4%

Ubiquiti stock opened at $408.12 on Monday. The firm has a market cap of $24.69 billion, a price-to-earnings ratio of 55.45 and a beta of 1.35. The stock has a fifty day simple moving average of $352.85 and a two-hundred day simple moving average of $351.53. Ubiquiti Inc. has a 12 month low of $139.06 and a 12 month high of $469.98. 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 company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 27th. Investors of record on Monday, May 19th were issued a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 0.59%. The ex-dividend date of this dividend was Monday, May 19th. Ubiquiti's payout ratio is currently 26.43%.

Analyst Ratings Changes

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

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.

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