First Trust Advisors LP Buys 2,076 Shares of Ubiquiti Inc. (NYSE:UI)

First Trust Advisors LP boosted its holdings in shares of Ubiquiti Inc. (NYSE:UI – Get Rating) by 8.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,289 shares of the company’s stock after acquiring an additional 2,076 shares during the period. First Trust Advisors LP’s holdings in Ubiquiti were worth $7,717,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Financial Enhancement Group LLC grew its holdings in shares of Ubiquiti by 2.2% during the third quarter. Financial Enhancement Group LLC now owns 1,502 shares of the company’s stock worth $441,000 after buying an additional 32 shares in the last quarter. Treasurer of the State of North Carolina raised its holdings in Ubiquiti by 1.6% in the 3rd quarter. Treasurer of the State of North Carolina now owns 2,565 shares of the company’s stock valued at $753,000 after buying an additional 40 shares during the period. Laurel Wealth Advisors Inc. increased its stake in Ubiquiti by 2.2% during the first quarter. Laurel Wealth Advisors Inc. now owns 2,208 shares of the company’s stock worth $643,000 after purchasing an additional 47 shares during the period. Assetmark Inc. increased its stake in Ubiquiti by 7.7% during the third quarter. Assetmark Inc. now owns 685 shares of the company’s stock worth $201,000 after purchasing an additional 49 shares during the period. Finally, Citigroup Inc. increased its stake in Ubiquiti by 2.4% during the first quarter. Citigroup Inc. now owns 2,723 shares of the company’s stock worth $793,000 after purchasing an additional 64 shares during the period. 3.59% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Barclays boosted their price objective on Ubiquiti from $221.00 to $266.00 and gave the stock an “underweight” rating in a research report on Monday, February 6th.

Ubiquiti Stock Performance

NYSE:UI opened at $263.49 on Tuesday. Ubiquiti Inc. has a 1 year low of $218.15 and a 1 year high of $350.63. The stock has a market capitalization of $15.93 billion, a price-to-earnings ratio of 45.82 and a beta of 1.26. The stock has a fifty day moving average price of $280.20 and a two-hundred day moving average price of $293.60.

Ubiquiti Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 21st. Stockholders of record on Monday, February 13th were given a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date of this dividend was Friday, February 10th. Ubiquiti’s dividend payout ratio is currently 41.74%.

About Ubiquiti

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Ubiquiti, Inc is focused on democratizing network technology on a global scale. It sells networking equipment and provides related software platforms. The firm develops technology platforms for high-capacity distributed Internet access, unified information technology, and consumer electronics for professional, home, and personal use.