Wedmont Private Capital Purchases 31 Shares of Ubiquiti Inc. $UI

Wedmont Private Capital raised its position in Ubiquiti Inc. (NYSE:UI) by 4.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 697 shares of the company’s stock after purchasing an additional 31 shares during the quarter. Wedmont Private Capital’s holdings in Ubiquiti were worth $281,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Golden State Wealth Management LLC bought a new position in Ubiquiti in the first quarter valued at about $25,000. Brooklyn Investment Group raised its position in Ubiquiti by 78.8% in the first quarter. Brooklyn Investment Group now owns 93 shares of the company’s stock valued at $29,000 after purchasing an additional 41 shares during the last quarter. Versant Capital Management Inc raised its position in Ubiquiti by 484.2% in the first quarter. Versant Capital Management Inc now owns 111 shares of the company’s stock valued at $34,000 after purchasing an additional 92 shares during the last quarter. Lazard Asset Management LLC bought a new position in Ubiquiti in the fourth quarter valued at about $74,000. Finally, AlphaQuest LLC raised its position in Ubiquiti by 14,300.0% in the first quarter. AlphaQuest LLC now owns 288 shares of the company’s stock valued at $89,000 after purchasing an additional 286 shares during the last quarter. 4.00% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on UI shares. UBS Group set a $600.00 price target on Ubiquiti in a research note on Monday, August 25th. BWS Financial increased their price target on Ubiquiti from $440.00 to $600.00 and gave the company a “buy” rating in a research note on Monday, August 25th. Finally, Barclays increased their price target on Ubiquiti from $247.00 to $299.00 and gave the company an “underweight” rating in a research note on Friday, August 22nd. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Ubiquiti currently has a consensus rating of “Hold” and a consensus price target of $499.67.

Ubiquiti Trading Up 1.5%

UI opened at $636.22 on Monday. The stock has a 50-day moving average price of $493.16 and a 200-day moving average price of $405.13. Ubiquiti Inc. has a 12-month low of $211.90 and a 12-month high of $639.05. The stock has a market capitalization of $38.49 billion, a P/E ratio of 54.05 and a beta of 1.42.

Ubiquiti (NYSE:UI) last released its earnings results on Friday, August 22nd. The company reported $3.54 earnings per share for the quarter, beating analysts’ consensus estimates of $2.23 by $1.31. Ubiquiti had a return on equity of 166.22% and a net margin of 27.66%.The company 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 company posted $1.74 EPS. On average, equities research analysts predict that Ubiquiti Inc. will post 7.21 EPS for the current year.

Ubiquiti Increases Dividend

The firm also recently announced 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 annualized dividend and a yield of 0.5%. This is a positive change from Ubiquiti’s previous quarterly dividend of $0.60. Ubiquiti’s dividend payout ratio (DPR) is 27.19%.

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.