Wealth Enhancement Advisory Services LLC Sells 23,732 Shares of Ubiquiti Inc. $UI

Key Points

• Wealth Enhancement Advisory Services LLC significantly reduced its stake in Ubiquiti Inc. by 90.5%, selling 23,732 shares and retaining only 2,503 shares valued at $1,061,000.
• Ubiquiti recently reported a higher than expected earnings of $3.54 per share, surpassing estimates of $2.23, alongside a revenue of $759.15 million for the quarter.
• The company declared an increase in its quarterly dividend from $0.60 to $0.80 per share, now representing an annualized dividend of $3.20 at a yield of 0.5%.

Wealth Enhancement Advisory Services LLC lowered its stake in Ubiquiti Inc. (NYSE:UI - Free Report) by 90.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,503 shares of the company's stock after selling 23,732 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Ubiquiti were worth $1,061,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Golden State Wealth Management LLC bought a new stake in Ubiquiti in the first quarter valued at $25,000. Brooklyn Investment Group boosted its holdings in shares of Ubiquiti by 78.8% during the 1st quarter. Brooklyn Investment Group now owns 93 shares of the company's stock valued at $29,000 after buying an additional 41 shares in the last quarter. Versant Capital Management Inc boosted its holdings in shares of Ubiquiti by 484.2% during the 1st quarter. Versant Capital Management Inc now owns 111 shares of the company's stock valued at $34,000 after buying an additional 92 shares in the last quarter. AlphaQuest LLC boosted its holdings in shares of Ubiquiti by 14,300.0% during the 1st quarter. AlphaQuest LLC now owns 288 shares of the company's stock valued at $89,000 after buying an additional 286 shares in the last quarter. Finally, New Age Alpha Advisors LLC bought a new stake in shares of Ubiquiti during the 1st quarter valued at $92,000. Institutional investors own 4.00% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. UBS Group set a $600.00 target price on shares of Ubiquiti in a report on Monday, August 25th. Barclays boosted their target price on shares of Ubiquiti from $247.00 to $299.00 and gave the company an "underweight" rating in a report on Friday, August 22nd. Finally, BWS Financial boosted their target price on shares of Ubiquiti from $440.00 to $600.00 and gave the company a "buy" rating in a report on Monday, August 25th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $499.67.

Ubiquiti Price Performance

UI opened at $673.51 on Thursday. The stock has a 50-day moving average price of $527.82 and a 200-day moving average price of $422.79. The firm has a market cap of $40.74 billion, a PE ratio of 57.22 and a beta of 1.44. Ubiquiti Inc. has a 1 year low of $220.41 and a 1 year high of $676.66.

Ubiquiti (NYSE:UI - Get Free Report) last posted its quarterly earnings results on Friday, August 22nd. The company reported $3.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.23 by $1.31. Ubiquiti had a return on equity of 166.22% and a net margin of 27.66%.The firm had revenue of $759.15 million during the quarter, compared to analyst estimates of $618.80 million. During the same quarter in the previous year, the firm earned $1.74 EPS. As a group, sell-side analysts anticipate that Ubiquiti Inc. will post 7.21 EPS for the current year.

Ubiquiti Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 8th. Shareholders of record on Tuesday, September 2nd were paid a dividend of $0.80 per share. The ex-dividend date was Tuesday, September 2nd. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.5%. This is an increase from Ubiquiti's previous quarterly dividend of $0.60. Ubiquiti's dividend payout ratio is presently 27.19%.

About Ubiquiti

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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