Advisor OS LLC Sells 10,048 Shares of SBA Communications Co. (NASDAQ:SBAC)

Advisor OS LLC lessened its stake in shares of SBA Communications Co. (NASDAQ:SBAC) by 89.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,176 shares of the technology company’s stock after selling 10,048 shares during the quarter. Advisor OS LLC’s holdings in SBA Communications were worth $240,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in SBAC. Ashton Thomas Securities LLC bought a new stake in shares of SBA Communications during the 3rd quarter worth about $26,000. Evermay Wealth Management LLC acquired a new position in shares of SBA Communications during the 4th quarter worth about $27,000. Capital Performance Advisors LLP acquired a new position in shares of SBA Communications during the 3rd quarter worth about $35,000. 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 purchasing an additional 144 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its position 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 purchasing an additional 53 shares during the last quarter. Institutional investors own 97.35% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on SBAC. Royal Bank of Canada reissued an “outperform” rating and set a $255.00 price objective on shares of SBA Communications in a research report on Monday. Wells Fargo & Company boosted their price objective on SBA Communications from $210.00 to $225.00 and gave the stock an “equal weight” rating in a research report on Wednesday. BMO Capital Markets reissued a “market perform” rating and set a $230.00 price objective (down previously from $260.00) on shares of SBA Communications in a research report on Wednesday, December 18th. StockNews.com cut SBA Communications from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th. Finally, Barclays cut their price objective on SBA Communications from $254.00 to $240.00 and set an “overweight” rating for the company in a research report on Thursday, February 20th. Five research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $253.07.

Insider Activity

In related news, EVP Mark R. Ciarfella sold 3,545 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $224.33, for a total transaction of $795,249.85. Following the sale, the executive vice president now directly owns 33,588 shares in the company, valued at $7,534,796.04. This represents a 9.55 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Donald Day sold 2,321 shares of the stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $203.43, for a total value of $472,161.03. Following the sale, the executive vice president now owns 4,998 shares in the company, valued at approximately $1,016,743.14. This trade represents a 31.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

SBA Communications Trading Up 1.3 %

SBAC stock opened at $218.20 on Friday. SBA Communications Co. has a 1-year low of $183.64 and a 1-year high of $252.64. The firm has a market cap of $23.46 billion, a P/E ratio of 34.42, a P/E/G ratio of 0.74 and a beta of 0.69. The business’s 50 day moving average is $203.52 and its 200-day moving average is $220.38.

SBA Communications Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th will be paid a $1.11 dividend. This is a positive change from SBA Communications’s previous quarterly dividend of $0.98. This represents a $4.44 annualized dividend and a dividend yield of 2.03%. The ex-dividend date is Thursday, March 13th. SBA Communications’s dividend payout ratio is currently 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.