May 29, 2023 – Victory Capital Management Inc., a well-known financial institution based in the United States, recently disclosed that it has trimmed its holdings in Ubiquiti Inc. (NYSE:UI) by 15.7% during the 4th quarter of the previous year, according to the company’s most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,148 shares of Ubiquiti’s stock after selling 1,702 shares during the said period. At the end of the most recent quarter, Victory Capital Management’s holdings in Ubiquiti were worth $2,673,000.
Ubiquiti is a leading company in the field of democratizing network technology. It specializes in selling networking equipment and providing related software platforms. The firm is known for developing robust technology platforms specifically designed to cater to high-capacity distributed internet access requirements and unified information technology solutions for professional, home, and personal use.
In line with this development, Ubiquiti also recently disclosed having paid a quarterly dividend on Monday, May 22nd. Stockholders who were recorded as such on Monday, May 15th received a $0.60 dividend. The ex-dividend date was Friday, May 12th. This represents an annualized basis payout ratio of $2.40 and an impressive dividend yield of 1.46%, making it an attractive investment opportunity for interested parties.
Many investors continue to express their confidence in Ubiquiti due to its innovative products and services that demonstrate its commitment to delivering top-quality networking solutions that address real-world problems faced by consumers worldwide. This trend is expected to continue as fewer companies are offering practical solutions that meet current demand-based concerns effectively.
While trimming its holdings in Uiquti has raised questions about Victory Capital Management’s long-term plans for the tech firm, many remain optimistic about both companies’ future prospects amidst ongoing market volatility and increased technological disruptions. Ultimately this shift may prove to be a prudent financial decision for Victory Capital Management and reinforce Ubiquiti’s drive to continue providing its clients with innovative solutions geared towards democratizing network technology.
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Ubiquiti Inc. Sees Increase in Holdings by Hedge Funds and Institutional Investors
Ubiquiti Inc., a technology company providing networking products and solutions, has been making headlines lately with the recent changes in its holdings by hedge funds and institutional investors. According to a report released on May 29, 2023, JPMorgan Chase & Co., HighTower Advisors LLC, Private Advisor Group LLC, Citigroup Inc., and Bank of Montreal Can have all made adjustments to their holdings in shares of Ubiquiti.
JPMorgan Chase & Co. raised its holdings in the company by 23.1% during the first quarter, now totalling 12,068 shares worth $3,514,000 after buying an additional 2,263 shares during that period. Similarly, HighTower Advisors LLC bought an additional 279 shares representing a 14.6% increase in their holdings to 2,189 shares worth $638,000.
Private Advisor Group LLC was reported to have purchased a new stake in the company during the same quarter for $254,000 while Citigroup Inc. increased its holdings by purchasing an additional 64 shares of Ubiquiti’s stock worth $793,000. Finally, Bank of Montreal Can raised its total ownership stake by purchasing an additional 133 shares totalling $309,000.
As it stands presently, hedge funds and other institutional investors hold approximately 3.59% of the stock owned by Ubiquiti.
Shares of UI started at $164.86 on Monday with a market capitalization of almost $10 billion. The increase in Holdings don’t come as much surprise given recent comments made by research analysts who show considerable faith in the company’s potential.
Though Barclays downgraded Ubiquiti from its previous price target of $266 to current levels not overreaching $207.
Amidst concern about the current state of affairs and uncertain global events however such steadiness seems like something even world leaders may find attractive for decision making and planning.
