HB Wealth Management LLC Sells 121 Shares of SBA Communications Co. (NASDAQ:SBAC)

HB Wealth Management LLC decreased its position in SBA Communications Co. (NASDAQ:SBAC) by 8.7% during the 4th quarter, HoldingsChannel reports. The fund owned 1,269 shares of the technology company’s stock after selling 121 shares during the quarter. HB Wealth Management LLC’s holdings in SBA Communications were worth $259,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in SBA Communications by 10.7% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 527 shares of the technology company’s stock worth $127,000 after purchasing an additional 51 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in shares of SBA Communications by 32.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 216 shares of the technology company’s stock worth $52,000 after buying an additional 53 shares during the last quarter. Versant Capital Management Inc grew its holdings in shares of SBA Communications by 17.3% in the 4th 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 in the last quarter. Sugarloaf Wealth Management LLC increased its position in shares of SBA Communications by 11.6% in the third quarter. Sugarloaf Wealth Management LLC now owns 558 shares of the technology company’s stock valued at $134,000 after acquiring an additional 58 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in SBA Communications by 1.4% during the third quarter. Assenagon Asset Management S.A. now owns 4,512 shares of the technology company’s stock worth $1,086,000 after acquiring an additional 64 shares in the last quarter. Institutional investors and hedge funds own 97.35% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. KeyCorp raised their price target on SBA Communications from $230.00 to $280.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Barclays lowered their target price on shares of SBA Communications from $257.00 to $254.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. Raymond James increased their price target on shares of SBA Communications from $285.00 to $300.00 and gave the company a “strong-buy” rating in a research note on Tuesday, October 29th. BMO Capital Markets restated a “market perform” rating and set a $230.00 price objective (down from $260.00) on shares of SBA Communications in a research note on Wednesday, December 18th. Finally, StockNews.com upgraded shares of SBA Communications from a “hold” rating to a “buy” rating in a research note on Thursday. Four research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, SBA Communications presently has a consensus rating of “Moderate Buy” and an average target price of $252.46.

Insider Activity

In related news, EVP Mark R. Ciarfella sold 3,545 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $224.33, for a total value of $795,249.85. Following the completion of the transaction, the executive vice president now owns 33,588 shares of the company’s stock, valued at $7,534,796.04. The trade was a 9.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Donald Day sold 2,321 shares of the stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $203.43, for a total transaction of $472,161.03. Following the sale, the executive vice president now 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 disclosure for this sale can be found here. 1.30% of the stock is owned by company insiders.

SBA Communications Price Performance

SBAC opened at $196.83 on Friday. The business has a fifty day simple moving average of $209.87 and a 200 day simple moving average of $221.45. 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 $21.16 billion, a PE ratio of 31.05, a price-to-earnings-growth ratio of 0.70 and a beta of 0.69.

SBA Communications (NASDAQ:SBAC) last announced its earnings results on Monday, October 28th. The technology company reported $2.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.77). SBA Communications had a net margin of 25.76% and a negative return on equity of 13.13%. The business had revenue of $667.60 million during the quarter, compared to the consensus estimate of $669.29 million. During the same period in the previous year, the firm posted $3.34 EPS. The company’s revenue was down 2.2% compared to the same quarter last year. Equities analysts anticipate that SBA Communications Co. will post 12.57 earnings per share for the current fiscal year.

SBA Communications Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 12th. Stockholders of record on Thursday, November 14th were issued a dividend of $0.98 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $3.92 annualized dividend and a dividend yield of 1.99%. SBA Communications’s dividend payout ratio is presently 61.83%.

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.