Circle Wealth Management LLC Sells 1,704 Shares of SBA Communications Co. (NASDAQ:SBAC)

Circle Wealth Management LLC decreased its holdings in shares of SBA Communications Co. (NASDAQ:SBAC - Free Report) by 34.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,291 shares of the technology company's stock after selling 1,704 shares during the period. Circle Wealth Management LLC's holdings in SBA Communications were worth $671,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in SBAC. Evermay Wealth Management LLC bought a new stake in SBA Communications during the 4th quarter worth approximately $27,000. Graney & King LLC bought a new stake in shares of SBA Communications during the fourth quarter worth $29,000. Oakworth Capital Inc. increased its stake in shares of 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 buying an additional 144 shares in the last quarter. CKW Financial Group bought a new position in shares of SBA Communications in the fourth quarter valued at about $56,000. Finally, Sherman Asset Management Inc. acquired a new position in SBA Communications during the 4th quarter worth about $73,000. 97.35% of the stock is owned by institutional investors and hedge funds.

SBA Communications Price Performance

Shares of SBA Communications stock traded up $3.04 during trading hours 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. SBA Communications Co. has a 12 month low of $185.44 and a 12 month high of $252.64. The company has a market capitalization of $25.79 billion, a PE ratio of 37.80, a price-to-earnings-growth ratio of 0.74 and a beta of 0.83. The stock has a 50 day moving average of $223.82 and a 200 day moving average of $216.28.

SBA Communications Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 17th. Stockholders of record on Thursday, May 22nd will be given a dividend of $1.11 per share. This represents a $4.44 annualized dividend and a dividend yield of 1.85%. The ex-dividend date of this dividend is Thursday, May 22nd. SBA Communications's dividend payout ratio is 60.91%.

Insider Transactions at SBA Communications

In other news, VP Joshua Koenig sold 2,209 shares of the business's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $224.18, for a total value of $495,213.62. Following the sale, the vice president now directly owns 6,079 shares in the company, valued at $1,362,790.22. The trade was a 26.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jack Langer sold 5,000 shares of the stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $240.59, for a total value of $1,202,950.00. Following the transaction, the director now owns 10,522 shares of the company's stock, valued at approximately $2,531,487.98. The trade was a 32.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.92% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on SBAC shares. Wells Fargo & Company boosted their target price on shares of SBA Communications from $210.00 to $225.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 26th. JMP Securities upped their price objective on SBA Communications from $250.00 to $270.00 and gave the stock a "market outperform" rating in a report on Tuesday, April 29th. BMO Capital Markets boosted their target price on SBA Communications from $230.00 to $240.00 and gave the stock a "market perform" rating in a research report on Tuesday, April 29th. Royal Bank of Canada reiterated an "outperform" rating and issued a $255.00 price target on shares of SBA Communications in a report on Monday, February 24th. Finally, Citizens Jmp raised SBA Communications to a "strong-buy" rating in a report on Monday, January 27th. Six investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned 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 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.