Banco Bilbao Vizcaya Argentaria S.A. Cuts Holdings in SBA Communications Co. (NASDAQ:SBAC)

Banco Bilbao Vizcaya Argentaria S.A. cut its stake in shares of SBA Communications Co. (NASDAQ:SBAC - Free Report) by 32.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,626 shares of the technology company's stock after selling 1,288 shares during the quarter. Banco Bilbao Vizcaya Argentaria S.A.'s holdings in SBA Communications were worth $535,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Evermay Wealth Management LLC bought a new stake in SBA Communications in the 4th quarter valued at about $27,000. Graney & King LLC bought a new stake in shares of SBA Communications during the fourth quarter valued at approximately $29,000. Oakworth Capital Inc. raised 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 worth $47,000 after purchasing an additional 144 shares during the period. CKW Financial Group bought a new position in shares of SBA Communications in the 4th quarter worth $56,000. Finally, Versant Capital Management Inc grew its position in SBA Communications by 17.3% in the 4th quarter. Versant Capital Management Inc now owns 360 shares of the technology company's stock valued at $73,000 after purchasing an additional 53 shares during the period. 97.35% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on SBAC shares. Barclays raised their price target on shares of SBA Communications from $244.00 to $247.00 and gave the company an "overweight" rating in a research report on Tuesday. Royal Bank of Canada restated an "outperform" rating and set a $255.00 price objective on shares of SBA Communications in a research note on Monday, February 24th. BMO Capital Markets increased their target price on shares of SBA Communications from $230.00 to $240.00 and gave the company a "market perform" rating in a report on Tuesday. JMP Securities boosted their price target on shares of SBA Communications from $250.00 to $270.00 and gave the stock a "market outperform" rating in a report on Tuesday. Finally, Citizens Jmp upgraded shares of SBA Communications to a "strong-buy" rating in a research note on Monday, January 27th. Six investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, SBA Communications currently has an average rating of "Moderate Buy" and an average target price of $252.38.

SBA Communications Stock Down 1.1 %

SBAC traded down $2.66 during trading on Thursday, reaching $240.74. 740,441 shares of the company were exchanged, compared to its average volume of 900,699. The company has a market cap of $25.91 billion, a price-to-earnings ratio of 37.97, a P/E/G ratio of 0.74 and a beta of 0.83. SBA Communications Co. has a 12-month low of $185.44 and a 12-month high of $252.64. The company's 50-day moving average is $220.63 and its two-hundred day moving average is $216.70.

SBA Communications Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 17th. Investors of record on Thursday, May 22nd will be issued a dividend of $1.11 per share. This represents a $4.44 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date is Thursday, May 22nd. SBA Communications's dividend payout ratio (DPR) is presently 60.91%.

Insiders Place Their Bets

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 value of $495,213.62. Following the transaction, 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.92% of the company's stock.

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.