Carnegie Investment Counsel Has $1.28 Million Stake in Ubiquiti Inc. (NYSE:UI)

Carnegie Investment Counsel lessened its position in Ubiquiti Inc. (NYSE:UI) by 8.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,850 shares of the company’s stock after selling 354 shares during the period. Carnegie Investment Counsel’s holdings in Ubiquiti were worth $1,278,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of UI. Marshall Wace LLP increased its holdings in shares of Ubiquiti by 104.4% in the second quarter. Marshall Wace LLP now owns 5,980 shares of the company’s stock valued at $871,000 after purchasing an additional 3,054 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of Ubiquiti by 88.8% during the 2nd quarter. AQR Capital Management LLC now owns 23,546 shares of the company’s stock worth $3,372,000 after buying an additional 11,076 shares during the period. Maverick Capital Ltd. grew its stake in Ubiquiti by 76.3% in the 2nd quarter. Maverick Capital Ltd. now owns 19,093 shares of the company’s stock valued at $2,781,000 after buying an additional 8,264 shares during the last quarter. Millennium Management LLC raised its holdings in Ubiquiti by 86.2% in the 2nd quarter. Millennium Management LLC now owns 58,349 shares of the company’s stock valued at $8,499,000 after acquiring an additional 27,011 shares during the period. Finally, Creative Planning lifted its position in Ubiquiti by 28.4% during the second quarter. Creative Planning now owns 2,643 shares of the company’s stock worth $385,000 after acquiring an additional 585 shares during the last quarter. Institutional investors own 4.00% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on UI. StockNews.com raised Ubiquiti from a “hold” rating to a “buy” rating in a research report on Sunday, November 17th. BWS Financial upped their price objective on Ubiquiti from $385.00 to $440.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Barclays lifted their target price on Ubiquiti from $104.00 to $236.00 and gave the stock an “underweight” rating in a report on Monday, November 11th.

Ubiquiti Stock Performance

Shares of NYSE:UI opened at $406.86 on Friday. Ubiquiti Inc. has a 12-month low of $104.24 and a 12-month high of $422.92. The company’s 50 day moving average price is $350.31 and its two-hundred day moving average price is $254.39. The firm has a market cap of $24.60 billion, a PE ratio of 62.98 and a beta of 1.14. The company has a quick ratio of 1.32, a current ratio of 2.54 and a debt-to-equity ratio of 2.80.

Ubiquiti Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, November 25th. Stockholders of record on Monday, November 18th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 0.59%. The ex-dividend date of this dividend was Monday, November 18th. Ubiquiti’s dividend payout ratio (DPR) is currently 37.15%.

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.