Motley Fool Wealth Management LLC Sells 2,456 Shares of SBA Communications Co. (NASDAQ:SBAC)

Motley Fool Wealth Management LLC lessened its stake in SBA Communications Co. (NASDAQ:SBAC) by 4.9% in the fourth quarter, Holdings Channel reports. The firm owned 47,470 shares of the technology company’s stock after selling 2,456 shares during the quarter. Motley Fool Wealth Management LLC’s holdings in SBA Communications were worth $9,608,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Evermay Wealth Management LLC bought a new stake in shares of SBA Communications in the fourth quarter worth $27,000. Oakworth Capital Inc. lifted its position in shares of SBA Communications by 161.8% during the fourth quarter. Oakworth Capital Inc. now owns 233 shares of the technology company’s stock valued at $47,000 after purchasing an additional 144 shares in the last quarter. CKW Financial Group purchased a new position in SBA Communications in the fourth quarter worth $56,000. Sherman Asset Management Inc. bought a new position in shares of SBA Communications during the 4th quarter valued at approximately $73,000. Finally, Versant Capital Management Inc increased its holdings in SBA Communications by 17.3% in the 4th quarter. Versant Capital Management Inc now owns 360 shares of the technology company’s stock worth $73,000 after acquiring an additional 53 shares during the last quarter. 97.35% of the stock is currently owned by institutional investors and hedge funds.

SBA Communications Price Performance

Shares of SBA Communications stock opened at $214.31 on Wednesday. The stock has a market cap of $23.06 billion, a PE ratio of 33.80, a price-to-earnings-growth ratio of 0.74 and a beta of 0.74. SBA Communications Co. has a 1 year low of $183.64 and a 1 year high of $252.64. The firm has a fifty day moving average price of $210.45 and a 200 day moving average price of $219.73.

SBA Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be paid a dividend of $1.11 per share. This is a positive change from SBA Communications’s previous quarterly dividend of $0.98. This represents a $4.44 annualized dividend and a yield of 2.07%. The ex-dividend date of this dividend is Thursday, March 13th. SBA Communications’s payout ratio is 63.98%.

Insider Buying and Selling at SBA Communications

In related news, VP Joshua Koenig sold 2,209 shares of the company’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $224.18, for a total value 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 approximately $1,362,790.22. This represents a 26.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 1.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Citizens Jmp raised shares of SBA Communications to a “strong-buy” rating in a report on Monday, January 27th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $230.00 price target (down from $260.00) on shares of SBA Communications in a research note on Wednesday, December 18th. Barclays lifted their target price on shares of SBA Communications from $240.00 to $244.00 and gave the company an “overweight” rating in a report on Friday, March 21st. JMP Securities assumed coverage on shares of SBA Communications in a research note on Monday, January 27th. They issued an “outperform” rating and a $250.00 price target on the stock. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $255.00 price objective on shares of SBA Communications in a report on Monday, February 24th. Four analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, SBA Communications presently has a consensus rating of “Moderate Buy” and an average target price of $252.85.

SBA Communications 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.