Integrated Advisors Network LLC Has $340,000 Stock Holdings in SBA Communications Co. (NASDAQ:SBAC)

Integrated Advisors Network LLC reduced its position in shares of SBA Communications Co. (NASDAQ:SBAC - Free Report) by 44.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,546 shares of the technology company's stock after selling 1,229 shares during the period. Integrated Advisors Network LLC's holdings in SBA Communications were worth $340,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Farther Finance Advisors LLC boosted its holdings in shares of SBA Communications by 22.0% during the 1st quarter. Farther Finance Advisors LLC now owns 250 shares of the technology company's stock worth $55,000 after buying an additional 45 shares during the period. Central Pacific Bank Trust Division raised its stake in SBA Communications by 2.3% during the 1st quarter. Central Pacific Bank Trust Division now owns 2,250 shares of the technology company's stock valued at $495,000 after purchasing an additional 50 shares during the last quarter. Auxano Advisors LLC raised its stake in SBA Communications by 2.3% during the 4th quarter. Auxano Advisors LLC now owns 2,431 shares of the technology company's stock valued at $495,000 after purchasing an additional 54 shares during the last quarter. DoubleLine ETF Adviser LP raised its stake in SBA Communications by 0.7% during the 4th quarter. DoubleLine ETF Adviser LP now owns 7,738 shares of the technology company's stock valued at $1,577,000 after purchasing an additional 57 shares during the last quarter. Finally, Lake Street Advisors Group LLC raised its stake in SBA Communications by 5.8% during the 4th quarter. Lake Street Advisors Group LLC now owns 1,105 shares of the technology company's stock valued at $225,000 after purchasing an additional 61 shares during the last quarter. 97.35% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

SBAC has been the subject of several research analyst reports. Barclays upped their target price on shares of SBA Communications from $244.00 to $247.00 and gave the company an "overweight" rating in a research note on Tuesday, April 29th. Bank of America initiated coverage on shares of SBA Communications in a research note on Monday, May 19th. They set a "buy" rating and a $260.00 target price for the company. Morgan Stanley initiated coverage on shares of SBA Communications in a research note on Tuesday, April 1st. They set an "equal weight" rating and a $240.00 target price for the company. Raymond James reiterated a "strong-buy" rating and set a $268.00 target price (up from $265.00) on shares of SBA Communications in a research note on Tuesday, April 29th. Finally, Wells Fargo & Company upped their target price on shares of SBA Communications from $210.00 to $225.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 26th. Seven 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's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $253.43.

SBA Communications Trading Down 0.1%

Shares of SBA Communications stock traded down $0.24 during mid-day trading on Friday, reaching $227.83. 592,607 shares of the stock were exchanged, compared to its average volume of 885,841. The company has a market cap of $24.48 billion, a price-to-earnings ratio of 35.94, a price-to-earnings-growth ratio of 0.74 and a beta of 0.78. The firm has a 50-day simple moving average of $228.82 and a 200 day simple moving average of $216.85. SBA Communications Co. has a fifty-two week low of $187.06 and a fifty-two week high of $252.64.

SBA Communications Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 17th. Shareholders 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 1.95%. The ex-dividend date of this dividend is Thursday, May 22nd. SBA Communications's dividend payout ratio is currently 60.91%.

Insiders Place Their Bets

In related news, Director Jack Langer sold 5,000 shares of the 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 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 sale was disclosed in a legal filing with the SEC, which is available at this link. 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.