Charles Schwab Investment Management Inc. Boosts Stake in SBA Communications Co. (NASDAQ:SBAC)

Charles Schwab Investment Management Inc. grew its stake in shares of SBA Communications Co. (NASDAQ:SBAC - Free Report) by 3.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,171,945 shares of the technology company's stock after acquiring an additional 38,047 shares during the period. Charles Schwab Investment Management Inc. owned 1.09% of SBA Communications worth $297,311,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of SBAC. Emerald Advisers LLC bought a new position in shares of SBA Communications during the third quarter worth approximately $31,000. CVA Family Office LLC bought a new position in shares of SBA Communications during the fourth quarter worth approximately $37,000. Pinnacle Bancorp Inc. increased its holdings in shares of SBA Communications by 73.6% during the fourth quarter. Pinnacle Bancorp Inc. now owns 158 shares of the technology company's stock worth $40,000 after purchasing an additional 67 shares during the period. Allworth Financial LP increased its stake in SBA Communications by 37.8% in the fourth quarter. Allworth Financial LP now owns 164 shares of the technology company's stock valued at $42,000 after acquiring an additional 45 shares during the last quarter. Finally, Turtle Creek Wealth Advisors LLC bought a new position in SBA Communications in the fourth quarter valued at approximately $43,000. 97.35% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at SBA Communications

In other SBA Communications news, Director Mary S. Chan sold 1,977 shares of SBA Communications stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $217.99, for a total value of $430,966.23. Following the completion of the sale, the director now directly owns 4,622 shares in the company, valued at $1,007,549.78. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.30% of the stock is owned by corporate insiders.

SBA Communications Stock Performance

Shares of NASDAQ:SBAC traded up $1.22 during mid-day trading on Wednesday, reaching $197.22. 769,668 shares of the company's stock were exchanged, compared to its average volume of 1,005,418. The firm has a market capitalization of $21.32 billion, a price-to-earnings ratio of 38.67, a PEG ratio of 0.57 and a beta of 0.59. The business's fifty day moving average price is $208.00 and its 200-day moving average price is $222.65. SBA Communications Co. has a twelve month low of $183.64 and a twelve month high of $258.76.

SBA Communications (NASDAQ:SBAC - Get Free Report) last issued its quarterly earnings results on Monday, April 29th. The technology company reported $1.42 EPS for the quarter, topping analysts' consensus estimates of $1.21 by $0.21. The company had revenue of $657.86 million for the quarter, compared to analyst estimates of $671.08 million. SBA Communications had a net margin of 20.61% and a negative return on equity of 10.75%. SBA Communications's revenue was down 2.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.13 earnings per share. Analysts predict that SBA Communications Co. will post 12.53 EPS for the current fiscal year.

SBA Communications Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 19th. Stockholders of record on Thursday, May 23rd will be paid a $0.98 dividend. This represents a $3.92 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date is Wednesday, May 22nd. SBA Communications's dividend payout ratio is 76.86%.

Analyst Ratings Changes

A number of research analysts recently issued reports on SBAC shares. TD Cowen decreased their price objective on shares of SBA Communications from $266.00 to $253.00 and set a "buy" rating on the stock in a research note on Tuesday, April 30th. Citigroup decreased their price objective on shares of SBA Communications from $290.00 to $260.00 and set a "buy" rating on the stock in a research note on Tuesday, April 30th. Wells Fargo & Company decreased their price objective on shares of SBA Communications from $260.00 to $230.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 30th. Barclays decreased their target price on shares of SBA Communications from $255.00 to $241.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 30th. Finally, KeyCorp decreased their target price on shares of SBA Communications from $276.00 to $227.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 30th. One equities research analyst has rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, SBA Communications presently has an average rating of "Buy" and a consensus target price of $254.75.

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.