Abacus Planning Group Inc. Makes New $212,000 Investment in Ubiquiti Inc. $UI

Abacus Planning Group Inc. acquired a new position in Ubiquiti Inc. (NYSE:UI) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 515 shares of the company’s stock, valued at approximately $212,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Truist Financial Corp boosted its position in shares of Ubiquiti by 16.6% during the second quarter. Truist Financial Corp now owns 1,472 shares of the company’s stock worth $606,000 after acquiring an additional 210 shares during the last quarter. One Wealth Advisors LLC purchased a new position in Ubiquiti in the 2nd quarter worth about $219,000. Greenleaf Trust purchased a new position in shares of Ubiquiti during the second quarter valued at $227,000. Raleigh Capital Management Inc. raised its stake in Ubiquiti by 24.9% in the second quarter. Raleigh Capital Management Inc. now owns 451 shares of the company’s stock worth $186,000 after buying an additional 90 shares in the last quarter. Finally, Signaturefd LLC raised its holdings in Ubiquiti by 21.1% in the second quarter. Signaturefd LLC now owns 373 shares of the company’s stock worth $154,000 after purchasing an additional 65 shares in the last quarter. 4.00% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Barclays boosted their target price on shares of Ubiquiti from $247.00 to $299.00 and gave the stock an “underweight” rating in a research report on Friday, August 22nd. BWS Financial upped their price objective on Ubiquiti from $440.00 to $600.00 and gave the stock a “buy” rating in a research report on Monday, August 25th. Weiss Ratings restated a “hold (c+)” rating on shares of Ubiquiti in a research note on Saturday, September 27th. Finally, UBS Group set a $600.00 price target on shares of Ubiquiti in a research report on Monday, August 25th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Ubiquiti currently has a consensus rating of “Hold” and a consensus price target of $499.67.

Ubiquiti Price Performance

UI stock opened at $661.75 on Friday. The business’s 50-day moving average is $536.77 and its two-hundred day moving average is $427.66. The firm has a market capitalization of $40.03 billion, a P/E ratio of 56.22 and a beta of 1.44. Ubiquiti Inc. has a 1 year low of $220.41 and a 1 year high of $689.36.

Ubiquiti (NYSE:UI) last posted its earnings results on Friday, August 22nd. The company reported $3.54 EPS for the quarter, topping analysts’ consensus estimates of $2.23 by $1.31. The business had revenue of $759.15 million for the quarter, compared to analysts’ expectations of $618.80 million. Ubiquiti had a return on equity of 166.22% and a net margin of 27.66%.During the same quarter in the previous year, the firm earned $1.74 earnings per share. On average, analysts expect that Ubiquiti Inc. will post 7.21 EPS for the current year.

Ubiquiti Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 8th. Stockholders of record on Tuesday, September 2nd were given a $0.80 dividend. This is an increase from Ubiquiti’s previous quarterly dividend of $0.60. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Tuesday, September 2nd. Ubiquiti’s dividend payout ratio (DPR) is 27.19%.

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.