Wedmont Private Capital Makes New $205,000 Investment in Ubiquiti Inc. (NYSE:UI)

Wedmont Private Capital acquired a new stake in shares of Ubiquiti Inc. (NYSE:UI - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 666 shares of the company's stock, valued at approximately $205,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Renaissance Technologies LLC lifted its stake in shares of Ubiquiti by 1.2% during the fourth quarter. Renaissance Technologies LLC now owns 199,964 shares of the company's stock worth $66,374,000 after buying an additional 2,400 shares during the period. Arrowstreet Capital Limited Partnership raised its position in shares of Ubiquiti by 926.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 113,305 shares of the company's stock worth $37,609,000 after acquiring an additional 102,268 shares during the period. AQR Capital Management LLC raised its position in shares of Ubiquiti by 100.1% in the fourth quarter. AQR Capital Management LLC now owns 99,199 shares of the company's stock worth $32,927,000 after acquiring an additional 49,616 shares during the period. Vanguard Group Inc. raised its position in shares of Ubiquiti by 2.5% during the 4th quarter. Vanguard Group Inc. now owns 94,505 shares of the company's stock worth $31,369,000 after purchasing an additional 2,294 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Ubiquiti by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 63,840 shares of the company's stock worth $21,197,000 after purchasing an additional 765 shares during the last quarter. 4.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on UI shares. Barclays upped their price objective on shares of Ubiquiti from $222.00 to $247.00 and gave the company an "underweight" rating in a research note on Monday, May 12th. BWS Financial reissued a "buy" rating and issued a $440.00 price target on shares of Ubiquiti in a research note on Monday, May 12th.

Ubiquiti Trading Down 0.8%

Shares of NYSE:UI traded down $2.89 during mid-day trading on Monday, reaching $379.81. 95,805 shares of the company were exchanged, compared to its average volume of 83,044. The company has a debt-to-equity ratio of 1.31, a current ratio of 2.22 and a quick ratio of 0.98. The firm has a market cap of $22.98 billion, a price-to-earnings ratio of 51.60 and a beta of 1.35. The firm's 50-day simple moving average is $365.83 and its 200 day simple moving average is $353.29. Ubiquiti Inc. has a 1 year low of $139.06 and a 1 year high of $469.98.

Ubiquiti Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 27th. Investors 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 dividend on an annualized basis and a dividend yield of 0.63%. Ubiquiti's payout ratio is currently 26.43%.

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.