Bristol John W & Co. Inc. NY Sells 12,043 Shares of SBA Communications Co. (NASDAQ:SBAC)

Bristol John W & Co. Inc. NY lessened its stake in shares of SBA Communications Co. (NASDAQ:SBAC - Free Report) by 2.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 416,943 shares of the technology company's stock after selling 12,043 shares during the quarter. Bristol John W & Co. Inc. NY owned 0.39% of SBA Communications worth $84,973,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Evermay Wealth Management LLC acquired a new stake in SBA Communications during the fourth quarter worth approximately $27,000. Graney & King LLC acquired a new position in shares of SBA Communications in the 4th quarter valued at $29,000. Oakworth Capital Inc. increased its holdings in shares of SBA Communications by 161.8% in the 4th 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 acquired a new position in shares of SBA Communications in the 4th quarter valued at $56,000. Finally, State of Wyoming increased its holdings in shares of SBA Communications by 75.8% in the 4th quarter. State of Wyoming now owns 276 shares of the technology company's stock valued at $56,000 after acquiring an additional 119 shares during the period. Hedge funds and other institutional investors own 97.35% of the company's stock.

SBA Communications Stock Performance

Shares of NASDAQ:SBAC traded up $0.73 during midday trading on Friday, reaching $230.97. The company had a trading volume of 1,256,458 shares, compared to its average volume of 896,334. SBA Communications Co. has a 1-year low of $187.06 and a 1-year high of $252.64. The firm has a market cap of $24.82 billion, a price-to-earnings ratio of 36.43, a price-to-earnings-growth ratio of 0.74 and a beta of 0.83. The company has a fifty day simple moving average of $226.89 and a two-hundred day simple moving average of $216.46.

SBA Communications Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Thursday, May 22nd will be given a dividend of $1.11 per share. The ex-dividend date of this dividend is Thursday, May 22nd. This represents a $4.44 dividend on an annualized basis and a yield of 1.92%. SBA Communications's payout ratio is presently 60.91%.

Insiders Place Their Bets

In other SBA Communications news, Director Jack Langer sold 5,000 shares of the company's stock in a transaction on 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 sale, the director now directly owns 10,522 shares in the company, valued at $2,531,487.98. This represents a 32.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Joshua Koenig sold 2,209 shares of the business's stock in a transaction on Friday, March 7th. The stock was sold at an average price of $224.18, for a total value of $495,213.62. Following the completion of the transaction, the vice president now directly owns 6,079 shares in the company, valued at approximately $1,362,790.22. This represents a 26.65% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.92% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SBAC. Deutsche Bank Aktiengesellschaft lowered shares of SBA Communications from a "buy" rating to a "hold" rating and set a $247.00 price objective on the stock. in a research report on Tuesday, May 20th. JMP Securities lifted their price objective on shares of SBA Communications from $250.00 to $270.00 and gave the company a "market outperform" rating in a research report on Tuesday, April 29th. Morgan Stanley assumed coverage on shares of SBA Communications in a research report on Tuesday, April 1st. They issued an "equal weight" rating and a $240.00 price objective on the stock. 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 report on Wednesday, February 26th. Finally, Raymond James restated a "strong-buy" rating and set a $268.00 target price (up from $265.00) on shares of SBA Communications in a research report on Tuesday, April 29th. Seven investment analysts have rated the stock with a hold rating, seven have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, SBA Communications currently has an average rating of "Moderate Buy" and a consensus target price of $253.43.

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.