Wealth Enhancement Advisory Services LLC Buys 24,482 Shares of Ubiquiti Inc. (NYSE:UI)

Wealth Enhancement Advisory Services LLC raised its stake in shares of Ubiquiti Inc. (NYSE:UI - Free Report) by 1,396.6% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 26,235 shares of the company's stock after purchasing an additional 24,482 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Ubiquiti were worth $8,136,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Versant Capital Management Inc boosted 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 boosted 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 position 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 purchasing an additional 54 shares during the period. Sterling Capital Management LLC raised its position in Ubiquiti by 30.2% during the fourth 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 period. Finally, Lazard Asset Management LLC purchased a new stake in Ubiquiti during the fourth quarter valued at approximately $74,000. Institutional investors own 4.00% of the company's stock.

Ubiquiti Stock Up 2.4%

UI opened at $397.99 on Wednesday. The stock's fifty day moving average is $374.54 and its two-hundred day moving average is $354.70. The company has a market capitalization of $24.07 billion, a P/E ratio of 43.83 and a beta of 1.35. Ubiquiti Inc. has a 52 week low of $140.26 and a 52 week high of $469.98.

Ubiquiti Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 27th. Shareholders of record on Monday, May 19th were given a dividend of $0.60 per share. The ex-dividend date was Monday, May 19th. This represents a $2.40 annualized dividend and a yield of 0.60%. Ubiquiti's dividend payout ratio (DPR) is presently 26.43%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. BWS Financial restated a "buy" rating and set a $440.00 price objective on shares of Ubiquiti in a research report on Monday, May 12th. Barclays increased their price target 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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