Avantax Advisory Services Inc. Sells 1,101 Shares of SBA Communications Co. (NASDAQ:SBAC)

Avantax Advisory Services Inc. reduced its stake in shares of SBA Communications Co. (NASDAQ:SBAC) by 11.2% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 8,747 shares of the technology company’s stock after selling 1,101 shares during the quarter. Avantax Advisory Services Inc.’s holdings in SBA Communications were worth $1,783,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp raised its stake in shares of SBA Communications by 1.8% in the 3rd quarter. State Street Corp now owns 4,643,527 shares of the technology company’s stock valued at $1,117,697,000 after acquiring an additional 81,566 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in SBA Communications by 16.6% during the third quarter. JPMorgan Chase & Co. now owns 4,254,460 shares of the technology company’s stock valued at $1,024,049,000 after purchasing an additional 605,872 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of SBA Communications by 46.5% in the fourth quarter. Victory Capital Management Inc. now owns 1,781,231 shares of the technology company’s stock valued at $363,015,000 after purchasing an additional 565,137 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of SBA Communications by 3.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,308,511 shares of the technology company’s stock valued at $266,675,000 after purchasing an additional 38,725 shares during the period. Finally, Wealthfront Advisers LLC lifted its stake in shares of SBA Communications by 23,553.0% in the fourth quarter. Wealthfront Advisers LLC now owns 1,126,828 shares of the technology company’s stock worth $229,648,000 after buying an additional 1,122,064 shares during the last quarter. Institutional investors and hedge funds own 97.35% of the company’s stock.

Insiders Place Their Bets

In other SBA Communications news, EVP Donald Day sold 2,321 shares of the business’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $203.43, for a total value of $472,161.03. Following the transaction, the executive vice president now directly owns 4,998 shares in the company, valued at $1,016,743.14. The trade was a 31.71 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Joshua Koenig sold 2,209 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $224.18, for a total transaction of $495,213.62. Following the sale, the vice president now directly owns 6,079 shares of the company’s stock, valued at approximately $1,362,790.22. The trade was a 26.65 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the stock. StockNews.com downgraded shares of SBA Communications from a “buy” rating to a “hold” rating in a report on Thursday, February 20th. JMP Securities started coverage on SBA Communications in a research note on Monday, January 27th. They issued an “outperform” rating and a $250.00 price objective on the stock. BMO Capital Markets restated a “market perform” rating and set a $230.00 target price (down previously from $260.00) on shares of SBA Communications in a research note on Wednesday, December 18th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $255.00 price target on shares of SBA Communications in a research report on Monday, February 24th. Finally, Citizens Jmp raised SBA Communications to a “strong-buy” rating in a research report on Monday, January 27th. Five investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $252.54.

SBA Communications Trading Up 1.2 %

NASDAQ SBAC opened at $220.90 on Tuesday. SBA Communications Co. has a 1-year low of $183.64 and a 1-year high of $252.64. The company has a market capitalization of $23.77 billion, a price-to-earnings ratio of 34.84, a PEG ratio of 0.74 and a beta of 0.74. The stock’s 50 day moving average is $207.64 and its two-hundred day moving average is $220.23.

SBA Communications Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be given a $1.11 dividend. This represents a $4.44 dividend on an annualized basis and a yield of 2.01%. This is a boost from SBA Communications’s previous quarterly dividend of $0.98. The ex-dividend date of this dividend is Thursday, March 13th. SBA Communications’s dividend payout ratio is 63.98%.

About SBA Communications

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.