AXA S.A. grew its stake in SBA Communications Co. (NASDAQ:SBAC - Free Report) by 17.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 13,100 shares of the technology company's stock after purchasing an additional 1,939 shares during the quarter. AXA S.A.'s holdings in SBA Communications were worth $2,670,000 as of its most recent filing with the SEC.
Other institutional investors have also modified their holdings of the company. Evermay Wealth Management LLC bought a new position in shares of SBA Communications in the 4th quarter worth about $27,000. Graney & King LLC acquired a new position in SBA Communications in the fourth quarter valued at approximately $29,000. Oakworth Capital Inc. boosted its stake in SBA Communications by 161.8% in the fourth quarter. Oakworth Capital Inc. now owns 233 shares of the technology company's stock valued at $47,000 after acquiring an additional 144 shares during the period. CKW Financial Group bought a new position in shares of SBA Communications during the fourth quarter valued at approximately $56,000. Finally, Sherman Asset Management Inc. acquired a new stake in shares of SBA Communications during the 4th quarter worth approximately $73,000. Institutional investors and hedge funds own 97.35% of the company's stock.
Insider Activity at SBA Communications
In related news, VP Joshua Koenig sold 2,209 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was 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 in the company, valued at $1,362,790.22. This represents a 26.65 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jack Langer sold 5,000 shares of the firm's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $240.59, for a total value of $1,202,950.00. Following the completion of the sale, the director now directly owns 10,522 shares in the company, valued at $2,531,487.98. This trade represents a 32.21 % decrease in their position. The disclosure for this sale can be found here. 0.92% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
SBAC has been the subject of a number of recent research reports. StockNews.com downgraded SBA Communications from a "buy" rating to a "hold" rating in a research note on Friday, April 18th. Royal Bank of Canada reissued an "outperform" rating and issued a $255.00 price target on shares of SBA Communications in a research note on Monday, February 24th. Morgan Stanley assumed coverage on SBA Communications in a research report on Tuesday, April 1st. They issued an "equal weight" rating and a $240.00 target price for the company. BMO Capital Markets lifted their price objective on shares of SBA Communications from $230.00 to $240.00 and gave the stock a "market perform" rating in a research note on Tuesday, April 29th. Finally, JMP Securities boosted their target price on SBA Communications from $250.00 to $270.00 and gave the stock a "market outperform" rating in a research report on Tuesday, April 29th. Six analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $252.38.
View Our Latest Report on SBAC
SBA Communications Price Performance
Shares of SBAC stock traded up $3.04 on Friday, hitting $239.66. The company's stock had a trading volume of 670,644 shares, compared to its average volume of 897,620. The stock has a market capitalization of $25.79 billion, a price-to-earnings ratio of 37.80, a P/E/G ratio of 0.74 and a beta of 0.83. SBA Communications Co. has a fifty-two week low of $185.44 and a fifty-two week high of $252.64. The firm's fifty day moving average price is $223.82 and its 200-day moving average price is $216.28.
SBA Communications Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 17th. Investors of record on Thursday, May 22nd will be paid a $1.11 dividend. This represents a $4.44 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date of this dividend is Thursday, May 22nd. SBA Communications's payout ratio is 60.91%.
About SBA Communications
(
Free Report)
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.
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