Integrated Wealth Concepts LLC Makes New $228,000 Investment in SBA Communications Co. (NASDAQ:SBAC)

Integrated Wealth Concepts LLC bought a new stake in SBA Communications Co. (NASDAQ:SBAC - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,117 shares of the technology company's stock, valued at approximately $228,000.

Several other institutional investors have also bought and sold shares of the stock. Evermay Wealth Management LLC bought a new position in shares of SBA Communications in the fourth quarter valued at approximately $27,000. Graney & King LLC bought a new position in SBA Communications during the fourth quarter valued at about $29,000. Oakworth Capital Inc. increased its holdings in 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 buying an additional 144 shares during the last quarter. CKW Financial Group bought a new stake in SBA Communications in the fourth quarter worth about $56,000. Finally, Versant Capital Management Inc boosted its stake in SBA Communications by 17.3% in the fourth quarter. Versant Capital Management Inc now owns 360 shares of the technology company's stock valued at $73,000 after acquiring an additional 53 shares during the last quarter. Institutional investors own 97.35% of the company's stock.

SBA Communications Price Performance

SBAC stock traded up $3.04 during midday trading on Friday, reaching $239.66. The company had a trading volume of 670,644 shares, compared to its average volume of 896,610. The firm has a 50-day moving average price of $223.41 and a 200-day moving average price of $216.48. The company has a market capitalization of $25.79 billion, a P/E ratio of 37.80, a P/E/G ratio of 0.74 and a beta of 0.83. SBA Communications Co. has a 1 year low of $185.44 and a 1 year high of $252.64.

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 paid a $1.11 dividend. 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 1.85%. SBA Communications's dividend payout ratio is presently 60.91%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on SBAC. JMP Securities upped their price objective on SBA Communications from $250.00 to $270.00 and gave the company a "market outperform" rating in a research note on Tuesday, April 29th. Barclays increased their price target on SBA Communications from $244.00 to $247.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 29th. Citigroup boosted their price objective on SBA Communications from $250.00 to $265.00 and gave the company a "buy" rating in a research note on Tuesday, April 29th. Morgan Stanley initiated coverage on shares of SBA Communications in a research report on Tuesday, April 1st. They set an "equal weight" rating and a $240.00 target price for the company. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $255.00 price target on shares of SBA Communications in a research report on Monday, February 24th. Six research 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 stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $252.38.

Insider Buying and Selling at SBA Communications

In other SBA Communications news, Director Jack Langer sold 5,000 shares of the company's stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $240.59, for a total transaction of $1,202,950.00. Following the completion of 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 transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Joshua Koenig sold 2,209 shares of SBA Communications 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 completion of 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. Company 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.