Alliancebernstein L.P. Has $302 Million Stock Holdings in SBA Communications Co. (NASDAQ:SBAC)

Alliancebernstein L.P. raised its stake in SBA Communications Co. (NASDAQ:SBACGet Rating) by 7.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 776,318 shares of the technology company’s stock after acquiring an additional 51,003 shares during the period. Alliancebernstein L.P. owned approximately 0.71% of SBA Communications worth $302,003,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SBAC. Nissay Asset Management Corp Japan ADV increased its stake in shares of SBA Communications by 2.8% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 11,149 shares of the technology company’s stock valued at $4,337,000 after purchasing an additional 303 shares during the last quarter. Gilbert & Cook Inc. increased its stake in shares of SBA Communications by 1.9% in the 4th quarter. Gilbert & Cook Inc. now owns 2,753 shares of the technology company’s stock valued at $1,071,000 after purchasing an additional 52 shares during the last quarter. Yousif Capital Management LLC bought a new position in shares of SBA Communications in the 4th quarter valued at $7,539,000. Orion Portfolio Solutions LLC bought a new position in shares of SBA Communications in the 4th quarter valued at $249,000. Finally, Commonwealth Equity Services LLC increased its stake in shares of SBA Communications by 72.3% in the 4th quarter. Commonwealth Equity Services LLC now owns 10,286 shares of the technology company’s stock valued at $4,001,000 after purchasing an additional 4,315 shares during the last quarter. 95.41% of the stock is owned by hedge funds and other institutional investors.

SBAC stock opened at $347.56 on Friday. The stock’s 50 day simple moving average is $343.99 and its 200 day simple moving average is $339.95. SBA Communications Co. has a fifty-two week low of $286.41 and a fifty-two week high of $391.15. The company has a market cap of $37.48 billion, a P/E ratio of 87.77 and a beta of 0.41.

SBA Communications (NASDAQ:SBACGet Rating) last issued its quarterly earnings data on Monday, April 25th. The technology company reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.72. The firm had revenue of $619.77 million during the quarter, compared to analyst estimates of $603.91 million. SBA Communications had a negative return on equity of 8.54% and a net margin of 18.40%. The company’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same period in the previous year, the company posted $2.58 EPS. Equities analysts predict that SBA Communications Co. will post 11.09 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 14th. Shareholders of record on Thursday, May 19th will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date of this dividend is Wednesday, May 18th. SBA Communications’s dividend payout ratio is currently 71.72%.

SBAC has been the topic of a number of research reports. StockNews.com upgraded SBA Communications from a “hold” rating to a “buy” rating in a research report on Thursday, May 12th. Deutsche Bank Aktiengesellschaft boosted their price objective on SBA Communications from $365.00 to $375.00 in a research report on Wednesday, April 27th. KeyCorp boosted their price objective on SBA Communications from $384.00 to $393.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 26th. Cowen boosted their price objective on SBA Communications from $373.00 to $382.00 in a research report on Tuesday, April 26th. Finally, Raymond James upped their price target on SBA Communications from $385.00 to $410.00 and gave the company a “strong-buy” rating in a research report on Tuesday, April 26th. Two equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $392.67.

In other SBA Communications news, Director George R. Krouse, Jr. sold 500 shares of the company’s stock in a transaction on Tuesday, March 8th. The stock was sold at an average price of $328.88, for a total value of $164,440.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Kevin L. Beebe sold 1,889 shares of the company’s stock in a transaction on Tuesday, May 3rd. The shares were sold at an average price of $347.72, for a total value of $656,843.08. Following the completion of the transaction, the director now owns 14,813 shares of the company’s stock, valued at approximately $5,150,776.36. The disclosure for this sale can be found here. Insiders have sold a total of 36,149 shares of company stock valued at $12,383,935 over the last three months. Corporate insiders own 1.80% of the company’s stock.

SBA Communications Company Profile (Get Rating)

SBA Communications Corporation is a first choice provider and leading owner and operator of wireless communications infrastructure in North, Central, and South America and South Africa. By Building Better Wireless, SBA generates revenue from two primary businesses – site leasing and site development services.

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Institutional Ownership by Quarter for SBA Communications (NASDAQ:SBAC)

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