JPMorgan Chase & Co. Has $867.80 Million Stock Holdings in SBA Communications Co. (NASDAQ:SBAC)

JPMorgan Chase & Co. raised its position in SBA Communications Co. (NASDAQ:SBAC) by 0.1% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 4,258,116 shares of the technology company’s stock after acquiring an additional 3,656 shares during the period. JPMorgan Chase & Co. owned about 3.96% of SBA Communications worth $867,804,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the company. Evermay Wealth Management LLC bought a new stake in shares of SBA Communications in the fourth quarter worth $27,000. Graney & King LLC acquired a new stake in SBA Communications in the 4th quarter valued at $29,000. Oakworth Capital Inc. lifted its position in 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 acquired a new position in shares of SBA Communications during the 4th quarter worth about $56,000. Finally, 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. Institutional investors and hedge funds own 97.35% of the company’s stock.

SBA Communications Trading Up 0.2 %

Shares of NASDAQ SBAC opened at $216.84 on Friday. The business’s 50 day moving average is $211.31 and its 200-day moving average is $219.52. The firm has a market cap of $23.34 billion, a P/E ratio of 34.20, a price-to-earnings-growth ratio of 0.74 and a beta of 0.74. SBA Communications Co. has a 1-year low of $183.64 and a 1-year high of $252.64.

SBA Communications Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were issued a dividend of $1.11 per share. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $4.44 dividend on an annualized basis and a dividend yield of 2.05%. This is an increase from SBA Communications’s previous quarterly dividend of $0.98. SBA Communications’s dividend payout ratio (DPR) is currently 63.98%.

Insider Activity

In other SBA Communications news, VP Joshua Koenig sold 2,209 shares of SBA Communications stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $224.18, for a total value of $495,213.62. Following the completion of the sale, the vice president now owns 6,079 shares in the company, valued at $1,362,790.22. The trade was a 26.65 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on SBAC. BMO Capital Markets reissued a “market perform” rating and set a $230.00 price target (down from $260.00) on shares of SBA Communications in a research report on Wednesday, December 18th. Barclays raised their target price on shares of SBA Communications from $240.00 to $244.00 and gave the company an “overweight” rating in a research note on Friday, March 21st. JMP Securities started coverage on shares of SBA Communications in a research report on Monday, January 27th. They set an “outperform” rating and a $250.00 price target on the stock. Citizens Jmp raised shares of SBA Communications to a “strong-buy” rating in a research report on Monday, January 27th. Finally, StockNews.com raised shares of SBA Communications from a “hold” rating to a “buy” rating in a report on Tuesday. Four 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. Based on data from MarketBeat.com, SBA Communications has a consensus rating of “Moderate Buy” and a consensus target price of $252.85.

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.