Ubiquiti (UI) declares a dividend of $0.60

Ubiquiti said on February 3, 2023 that its board of directors had declared a regular quarterly dividend of $0.60 per share ($2.40 annualized). Shareholders of record as of February 10, 2023 will receive payment on February 21, 2023. Previously, the company paid $0.60 per share.

At the current share price of $285.39/share, the dividend yield of the stock is 0.84%. Looking back five years and taking a sample each week, the average dividend yield was 0.78%, the lowest 0.42% and the highest 1.18%. The standard deviation of returns is 0.17 (n=211).

The current dividend yield is 0.36 standard deviation above the historical average.

Additionally, the company’s dividend payout ratio is 0.42. The payout ratio tells us how much of a company’s income is paid out as dividends. A payout ratio of one (1.0) means that 100% of the company’s income is paid out as dividends. A payout ratio above one means the company is dipping into its savings to maintain its dividend, which is not a healthy situation. Companies with little growth prospects should pay most of their income in the form of dividends, which generally means a payout ratio between 0.5 and 1.0. Companies with good growth prospects should retain part of their profits in order to invest in these growth prospects, which translates into a payout ratio of zero to 0.5.

The company’s 3-year dividend growth rate is 1.00%, demonstrating that it has increased its dividend over time.

Analyst price forecast suggests 6.75% upside

As of February 7, 2023, the one-year average price target for Ubiquiti was $304.64. The predictions range from a low of $223.21 to a high of $393.75. The average price target represents a 6.75% increase from its last reported closing price of $285.39.

Ubiquiti’s projected annual revenue is $1,930 million, an increase of 7.65%. Projected annual EPS is $6.94, an increase of 20.90%.

Fund Sentiment

There are 409 funds or institutions reporting positions in Ubiquiti. This is a decrease of 16 owner(s) or 3.76%.

Average portfolio weight of all funds US dedicated: UI is 0.2323%, an increase of 9.1380%. The total number of shares held by institutions has decreased over the past three months by 8.91% to 2,487,000 shares.

What are the big shareholders doing?

Renaissance Technologies holds 379,182 shares representing 0.63% ownership of the company. In its previous filing, the company said it held 424,882 shares, representing
a decrease
of 12.05%. The company

increase

its portfolio allocation in UI by 26.13% in the last quarter.

SW Investment Management holds 111,000 shares representing 0.18% ownership of the company. In its previous filing, the company said it held 112,500 shares, representing
a decrease
1.35%. The company

increase

its portfolio allocation in UI of 3.92% over the last quarter.

Anchor Capital Advisors owns 95,923 shares representing 0.16% ownership of the company. In its previous filing, the company said it held 153,001 shares, representing
a decrease
of 59.50%. The company

decreases

its UI portfolio allocation of 19.44% in the last quarter.

Bank of New York Mellon owns 61,578 shares representing 0.10% ownership of the company. In its previous filing, the company said it held 64,155 shares, representing
a decrease
of 4.18%. The company

decreases

its portfolio allocation in UI by 46.04% in the last quarter.

Geode Capital Management holds 56,209 shares representing 0.09% of the company’s capital. In its previous filing, the company said it held 72,066 shares, representing
a decrease
of 28.21%. The company

decreases

its portfolio allocation in UI by 4.48% in the last quarter.

General information about Ubiquiti
(This description is provided by the company.)

Ubiquiti Inc. is focused on democratizing network technology globally – global shipments of over 101 million devices play a key role in building network infrastructure in more than 200 countries and territories across the world. Ubiquiti’s professional networking products are powered by its UNMS and UniFi software platforms to provide high-capacity distributed Internet access and unified information technology management, respectively.

This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.