Motley Fool Wealth Management LLC Trims Stock Holdings in SBA Communications Co. (NASDAQ:SBAC)

Motley Fool Wealth Management LLC lowered its stake in shares of SBA Communications Co. (NASDAQ:SBAC - Free Report) by 4.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,470 shares of the technology company's stock after selling 2,456 shares during the period. Motley Fool Wealth Management LLC's holdings in SBA Communications were worth $9,608,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of SBAC. State Street Corp grew its position in shares of SBA Communications by 1.8% during the third quarter. State Street Corp now owns 4,643,527 shares of the technology company's stock valued at $1,117,697,000 after purchasing an additional 81,566 shares in the last quarter. JPMorgan Chase & Co. increased its stake in SBA Communications by 16.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,254,460 shares of the technology company's stock worth $1,024,049,000 after acquiring an additional 605,872 shares during the last quarter. Diamond Hill Capital Management Inc. boosted its position in shares of SBA Communications by 8.3% during the 4th quarter. Diamond Hill Capital Management Inc. now owns 1,861,091 shares of the technology company's stock valued at $379,290,000 after acquiring an additional 142,054 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of SBA Communications by 46.5% in the fourth quarter. Victory Capital Management Inc. now owns 1,781,231 shares of the technology company's stock valued at $363,015,000 after purchasing an additional 565,137 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in SBA Communications by 3.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,308,511 shares of the technology company's stock worth $266,675,000 after purchasing an additional 38,725 shares during the last quarter. 97.35% of the stock is owned by hedge funds and other institutional investors.

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Insider Activity

In related news, VP Joshua Koenig sold 2,209 shares of the company's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $224.18, for a total transaction of $495,213.62. Following the transaction, the vice president now directly owns 6,079 shares of the company's stock, valued at $1,362,790.22. This represents a 26.65 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 1.30% of the company's stock.

SBA Communications Stock Up 0.2 %

Shares of SBA Communications stock traded up $0.46 on Friday, reaching $216.84. The stock had a trading volume of 533,757 shares, compared to its average volume of 871,640. The stock has a market capitalization of $23.34 billion, a P/E ratio of 34.20, a P/E/G ratio of 0.74 and a beta of 0.74. The company has a 50 day moving average price of $211.31 and a 200 day moving average price of $219.36. SBA Communications Co. has a 1 year low of $183.64 and a 1 year high of $252.64.

SBA Communications Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were given a dividend of $1.11 per share. The ex-dividend date of this dividend was Thursday, March 13th. This is an increase from SBA Communications's previous quarterly dividend of $0.98. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.05%. SBA Communications's dividend payout ratio is presently 63.98%.

Analysts Set New Price Targets

SBAC has been the topic of several recent research reports. Wells Fargo & Company upped their target price on shares of SBA Communications from $210.00 to $225.00 and gave the company an "equal weight" rating in a research report on Wednesday, February 26th. JMP Securities began coverage on SBA Communications in a research report on Monday, January 27th. They set an "outperform" rating and a $250.00 price objective on the stock. Royal Bank of Canada reissued an "outperform" rating and set a $255.00 target price on shares of SBA Communications in a research report on Monday, February 24th. Barclays lifted their price objective on shares of SBA Communications from $240.00 to $244.00 and gave the stock an "overweight" rating in a research note on Friday, March 21st. Finally, StockNews.com upgraded shares of SBA Communications from a "hold" rating to a "buy" rating in a report on Tuesday, March 25th. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, SBA Communications presently has a consensus rating of "Moderate Buy" and an average price target of $252.85.

SBA Communications Company Profile

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.