Charles Schwab Investment Management Inc. Sells 3,135 Shares of Ubiquiti Inc. (NYSE:UI)

Charles Schwab Investment Management Inc. trimmed its position in Ubiquiti Inc. (NYSE:UI - Free Report) by 8.7% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 33,018 shares of the company's stock after selling 3,135 shares during the period. Charles Schwab Investment Management Inc. owned 0.05% of Ubiquiti worth $7,321,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Ubiquiti by 24.1% in the first quarter. Vanguard Group Inc. now owns 97,817 shares of the company's stock worth $11,332,000 after purchasing an additional 18,986 shares during the period. Sumitomo Mitsui Trust Holdings Inc. acquired a new position in shares of Ubiquiti in the 2nd quarter valued at about $241,000. Bank of New York Mellon Corp grew its position in shares of Ubiquiti by 1.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 139,704 shares of the company's stock valued at $20,349,000 after buying an additional 2,041 shares during the last quarter. nVerses Capital LLC acquired a new stake in Ubiquiti during the second quarter worth about $44,000. Finally, CIBC Asset Management Inc bought a new position in Ubiquiti in the second quarter worth about $249,000. 4.00% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on UI shares. Barclays increased their price objective on shares of Ubiquiti from $104.00 to $236.00 and gave the stock an "underweight" rating in a report on Monday, November 11th. BWS Financial raised their price target on shares of Ubiquiti from $240.00 to $385.00 and gave the company a "buy" rating in a research note on Monday, November 11th. Finally, StockNews.com upgraded Ubiquiti from a "hold" rating to a "buy" rating in a research report on Sunday, November 17th.

Ubiquiti Stock Up 1.3 %

Shares of UI stock traded up $4.54 during trading on Thursday, hitting $346.60. 94,744 shares of the company were exchanged, compared to its average volume of 78,074. Ubiquiti Inc. has a twelve month low of $104.24 and a twelve month high of $366.33. The company has a debt-to-equity ratio of 2.80, a quick ratio of 1.32 and a current ratio of 2.54. The firm has a market capitalization of $20.96 billion, a price-to-earnings ratio of 53.65 and a beta of 1.12. The business's 50-day simple moving average is $294.47 and its 200 day simple moving average is $215.51.

Ubiquiti Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 25th. Investors of record on Monday, November 18th were issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date of this dividend was Monday, November 18th. Ubiquiti's dividend payout ratio is presently 37.15%.

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.