Ubiquiti Inc. (NYSE:UI) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its stake in Ubiquiti Inc. (NYSE:UI) by 2.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 62,639 shares of the company’s stock after selling 1,584 shares during the period. Bank of New York Mellon Corp owned approximately 0.10% of Ubiquiti worth $19,427,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Monument Capital Management raised its holdings in shares of Ubiquiti by 16.2% in the 1st quarter. Monument Capital Management now owns 1,237 shares of the company’s stock valued at $384,000 after purchasing an additional 172 shares in the last quarter. Golden State Wealth Management LLC purchased a new position in Ubiquiti in the first quarter valued at $25,000. Illinois Municipal Retirement Fund purchased a new position in Ubiquiti in the first quarter valued at $571,000. Balboa Wealth Partners acquired a new stake in Ubiquiti in the first quarter valued at $1,065,000. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in Ubiquiti by 1,396.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 26,235 shares of the company’s stock worth $8,136,000 after buying an additional 24,482 shares during the last quarter. 4.00% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Barclays increased their price objective on Ubiquiti from $222.00 to $247.00 and gave the company an “underweight” rating in a report on Monday, May 12th. BWS Financial reiterated a “buy” rating and issued a $440.00 price target on shares of Ubiquiti in a research note on Friday, July 11th.

Ubiquiti Stock Performance

UI opened at $460.45 on Friday. Ubiquiti Inc. has a one year low of $156.94 and a one year high of $469.98. The stock has a market capitalization of $27.85 billion, a P/E ratio of 50.71 and a beta of 1.34. The business’s 50-day simple moving average is $406.48 and its 200-day simple moving average is $363.71.

Ubiquiti Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 27th. Stockholders of record on Monday, May 19th were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 0.52%. The ex-dividend date was Monday, May 19th. Ubiquiti’s dividend payout ratio (DPR) is 26.43%.

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.