Focus Partners Wealth Purchases Shares of 2,970 SBA Communications Co. (NASDAQ:SBAC)

Focus Partners Wealth purchased a new stake in SBA Communications Co. (NASDAQ:SBAC - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The fund purchased 2,970 shares of the technology company's stock, valued at approximately $605,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Evermay Wealth Management LLC bought a new stake in SBA Communications in the 4th quarter valued at $27,000. Graney & King LLC bought a new stake in SBA Communications in the 4th quarter valued at $29,000. Oakworth Capital Inc. increased its holdings in 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 last quarter. CKW Financial Group bought a new stake in SBA Communications in the 4th quarter valued at $56,000. Finally, Sherman Asset Management Inc. bought a new stake in SBA Communications in the 4th quarter valued at $73,000. 97.35% of the stock is currently owned by institutional investors.

SBA Communications Trading Up 1.0%

Shares of SBAC opened at $235.51 on Tuesday. The firm has a fifty day moving average price of $224.85 and a 200-day moving average price of $215.90. The firm has a market capitalization of $25.34 billion, a P/E ratio of 37.15, 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.

SBA Communications Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders of record on Thursday, May 22nd will be paid a $1.11 dividend. The ex-dividend date is Thursday, May 22nd. This represents a $4.44 dividend on an annualized basis and a yield of 1.89%. SBA Communications's dividend payout ratio is currently 60.91%.

Analyst Ratings Changes

SBAC has been the topic of a number of research reports. Citizens Jmp upgraded shares of SBA Communications to a "strong-buy" rating in a report on Monday, January 27th. Raymond James restated a "strong-buy" rating and issued a $268.00 target price (up from $265.00) on shares of SBA Communications in a report on Tuesday, April 29th. 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 report on Wednesday, February 26th. Morgan Stanley began coverage on shares of SBA Communications in a report on Tuesday, April 1st. They issued an "equal weight" rating and a $240.00 target price on the stock. Finally, Barclays boosted their target price on shares of SBA Communications from $244.00 to $247.00 and gave the stock an "overweight" rating in a report on Tuesday, April 29th. Six research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $252.93.

Insider Transactions at SBA Communications

In other news, Director Jack Langer sold 5,000 shares of the stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $240.59, for a total transaction 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. This represents a 32.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Joshua Koenig sold 2,209 shares of the firm'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 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.

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.

Want to see what other hedge funds are holding SBAC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SBA Communications Co. (NASDAQ:SBAC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.