SBA Communications Co. (NASDAQ:SBAC) Shares Sold by Alliancebernstein L.P.

Alliancebernstein L.P. reduced its position in SBA Communications Co. (NASDAQ:SBAC - Free Report) by 10.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 134,996 shares of the technology company's stock after selling 15,097 shares during the period. Alliancebernstein L.P. owned 0.13% of SBA Communications worth $27,512,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. HighTower Advisors LLC grew its holdings in SBA Communications by 1.4% in the third quarter. HighTower Advisors LLC now owns 46,252 shares of the technology company's stock worth $11,062,000 after purchasing an additional 655 shares during the last quarter. State Street Corp grew its stake in SBA Communications by 1.8% during the 3rd quarter. State Street Corp now owns 4,643,527 shares of the technology company's stock worth $1,117,697,000 after buying an additional 81,566 shares during the last quarter. EP Wealth Advisors LLC acquired a new position in SBA Communications during the 3rd quarter valued at about $557,000. National Bank of Canada FI raised its stake in SBA Communications by 142.7% in the third quarter. National Bank of Canada FI now owns 71,826 shares of the technology company's stock valued at $17,288,000 after buying an additional 42,230 shares during the last quarter. Finally, MML Investors Services LLC boosted its holdings in SBA Communications by 5.3% in the third quarter. MML Investors Services LLC now owns 8,028 shares of the technology company's stock worth $1,932,000 after acquiring an additional 407 shares in the last quarter. Hedge funds and other institutional investors own 97.35% of the company's stock.

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Insider Buying and Selling at SBA Communications

In other news, VP Joshua Koenig sold 2,209 shares of the company's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $224.18, for a total transaction of $495,213.62. Following the completion of the sale, the vice president now owns 6,079 shares of the company's stock, valued at $1,362,790.22. This represents a 26.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.30% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on SBAC. Barclays increased their price objective on shares of SBA Communications from $240.00 to $244.00 and gave the company an "overweight" rating in a research report on Friday, March 21st. Wells Fargo & Company raised their price target on shares of SBA Communications from $210.00 to $225.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 26th. Royal Bank of Canada reissued an "outperform" rating and set a $255.00 price objective on shares of SBA Communications in a report on Monday, February 24th. JMP Securities initiated coverage on SBA Communications in a research report on Monday, January 27th. They issued an "outperform" rating and a $250.00 target price on the stock. Finally, Morgan Stanley initiated coverage on SBA Communications in a research report on Tuesday, April 1st. They set an "equal weight" rating and a $240.00 price target for the company. Five analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $251.92.

SBA Communications Trading Up 3.3 %

NASDAQ:SBAC traded up $6.98 during trading hours on Friday, hitting $219.18. 1,118,075 shares of the stock were exchanged, compared to its average volume of 893,377. The company has a market cap of $23.59 billion, a P/E ratio of 34.57, a P/E/G ratio of 0.74 and a beta of 0.83. The firm's fifty day moving average price is $215.23 and its 200 day moving average price is $217.44. SBA Communications Co. has a 52-week low of $183.64 and a 52-week high of $252.64.

SBA Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were paid a $1.11 dividend. This is an increase from SBA Communications's previous quarterly dividend of $0.98. This represents a $4.44 annualized dividend and a yield of 2.03%. The ex-dividend date was Thursday, March 13th. SBA Communications's dividend payout ratio is currently 63.98%.

About SBA Communications

SBA Communications Corporation is a leading independent owner and operator of wireless communications infrastructure including towers, buildings, rooftops, distributed antenna systems (DAS) and small cells. With a portfolio of more than 39,000 communications sites throughout the Americas, Africa and in Asia, SBA is listed on NASDAQ under the symbol SBAC.