By otakuyassine3@gmail.com 
Empowered Funds LLC raised its stake in Equinix, Inc. (NASDAQ:EQIX – Free Report) by 19.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,504 shares of the financial services provider’s stock after buying an additional 404 shares during the period. Empowered Funds LLC’s holdings in Equinix were worth $2,361,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. GHP Investment Advisors Inc. grew its position in shares of Equinix by 50.0% in the 3rd quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock valued at $35,000 after buying an additional 13 shares during the last quarter. Fortitude Family Office LLC lifted its stake in shares of Equinix by 50.0% in the 3rd quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 13 shares during the period. Dunhill Financial LLC lifted its stake in shares of Equinix by 108.7% in the 3rd quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 25 shares during the period. Friedenthal Financial acquired a new position in shares of Equinix in the 4th quarter valued at about $58,000. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its stake in shares of Equinix by 31.3% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 63 shares of the financial services provider’s stock valued at $59,000 after purchasing an additional 15 shares during the period. Institutional investors own 94.94% of the company’s stock.
Equinix Stock Performance
Shares of EQIX opened at $933.60 on Friday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.16 and a current ratio of 1.16. The stock has a 50 day moving average price of $935.90 and a two-hundred day moving average price of $894.96. The firm has a market capitalization of $90.08 billion, a P/E ratio of 84.18, a P/E/G ratio of 2.23 and a beta of 0.72. Equinix, Inc. has a 52 week low of $684.14 and a 52 week high of $994.03.
Equinix (NASDAQ:EQIX – Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $7.92 EPS for the quarter, beating analysts’ consensus estimates of $2.75 by $5.17. Equinix had a return on equity of 8.34% and a net margin of 12.29%. Equities analysts forecast that Equinix, Inc. will post 31.09 earnings per share for the current fiscal year.
Equinix Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, February 26th will be given a dividend of $4.69 per share. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.01%. This is an increase from Equinix’s previous quarterly dividend of $4.26. The ex-dividend date of this dividend is Wednesday, February 26th. Equinix’s dividend payout ratio (DPR) is presently 153.65%.
Insider Activity at Equinix
In other Equinix news, EVP Raouf Abdel sold 1,331 shares of the firm’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $903.71, for a total value of $1,202,838.01. Following the completion of the sale, the executive vice president now directly owns 6,579 shares of the company’s stock, valued at $5,945,508.09. This trade represents a 16.83 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Adaire Fox-Martin sold 2,965 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $961.62, for a total value of $2,851,203.30. Following the completion of the sale, the chief executive officer now directly owns 3,069 shares of the company’s stock, valued at $2,951,211.78. This represents a 49.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 16,801 shares of company stock valued at $15,530,564. 0.27% of the stock is owned by insiders.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on EQIX. BMO Capital Markets dropped their price objective on Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating on the stock in a research note on Thursday. Barclays boosted their price objective on Equinix from $810.00 to $822.00 and gave the company an “equal weight” rating in a research note on Monday, November 18th. Oppenheimer boosted their price objective on Equinix from $950.00 to $975.00 and gave the company an “outperform” rating in a research note on Thursday. JMP Securities reissued a “market outperform” rating and issued a $1,200.00 price objective on shares of Equinix in a research note on Thursday. Finally, Citizens Jmp raised Equinix to a “strong-buy” rating in a research note on Monday, January 27th. Three analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $994.82.
Read Our Latest Research Report on Equinix
Equinix Company Profile
Equinix (Nasdaq: EQIX) is the world’s digital infrastructure company . Digital leaders harness Equinix’s trusted platform to bring together and interconnect foundational infrastructure at software speed. Equinix enables organizations to access all the right places, partners and possibilities to scale with agility, speed the launch of digital services, deliver world-class experiences and multiply their value, while supporting their sustainability goals.
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