Banco Bilbao Vizcaya Argentaria S.A. Sells 1,288 Shares of SBA Communications Co. (NASDAQ:SBAC)

Banco Bilbao Vizcaya Argentaria S.A. cut its stake in shares of SBA Communications Co. (NASDAQ:SBAC) by 32.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,626 shares of the technology company’s stock after selling 1,288 shares during the period. Banco Bilbao Vizcaya Argentaria S.A.’s holdings in SBA Communications were worth $535,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Evermay Wealth Management LLC purchased a new stake in shares of SBA Communications in the fourth quarter valued at about $27,000. Graney & King LLC bought a new position in shares of SBA Communications during the 4th quarter worth approximately $29,000. Oakworth Capital Inc. lifted its position in shares of SBA Communications by 161.8% during the 4th quarter. Oakworth Capital Inc. now owns 233 shares of the technology company’s stock worth $47,000 after buying an additional 144 shares in the last quarter. CKW Financial Group purchased a new position in shares of SBA Communications in the 4th quarter worth approximately $56,000. Finally, Sherman Asset Management Inc. bought a new position in shares of SBA Communications in the fourth quarter valued at approximately $73,000. 97.35% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at SBA Communications

In related news, VP Joshua Koenig sold 2,209 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $224.18, for a total value of $495,213.62. Following the sale, the vice president now owns 6,079 shares in the company, valued at approximately $1,362,790.22. This trade represents a 26.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.92% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Wells Fargo & Company upped their price objective on SBA Communications from $210.00 to $225.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 26th. StockNews.com downgraded shares of SBA Communications from a “buy” rating to a “hold” rating in a report on Friday, April 18th. Citizens Jmp upgraded shares of SBA Communications to a “strong-buy” rating in a research note on Monday, January 27th. Barclays raised their price target on shares of SBA Communications from $240.00 to $244.00 and gave the stock an “overweight” rating in a research note on Friday, March 21st. Finally, JMP Securities assumed 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. Six equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, SBA Communications has a consensus rating of “Moderate Buy” and a consensus target price of $251.92.

SBA Communications Stock Performance

Shares of SBAC opened at $223.28 on Tuesday. The stock has a market capitalization of $24.03 billion, a price-to-earnings ratio of 35.22, a price-to-earnings-growth ratio of 0.74 and a beta of 0.83. SBA Communications Co. has a 52-week low of $183.64 and a 52-week high of $252.64. The stock’s 50-day simple moving average is $219.45 and its 200 day simple moving average is $216.36.

SBA Communications Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were given a $1.11 dividend. This is a positive change from SBA Communications’s previous quarterly dividend of $0.98. This represents a $4.44 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date was Thursday, March 13th. SBA Communications’s dividend payout ratio (DPR) is 63.98%.

SBA Communications 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.