Independent Advisor Alliance Buys 194 Shares of Equinix, Inc. (NASDAQ:EQIX)

Independent Advisor Alliance grew its stake in Equinix, Inc. (NASDAQ:EQIX) by 45.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 618 shares of the financial services provider’s stock after acquiring an additional 194 shares during the quarter. Independent Advisor Alliance’s holdings in Equinix were worth $583,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Equinix by 302.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,082,455 shares of the financial services provider’s stock worth $960,820,000 after acquiring an additional 813,666 shares in the last quarter. Raymond James Financial Inc. bought a new position in Equinix in the fourth quarter valued at $328,899,000. Adelante Capital Management LLC grew its position in Equinix by 202.3% in the third quarter. Adelante Capital Management LLC now owns 514,224 shares of the financial services provider’s stock valued at $456,441,000 after purchasing an additional 344,114 shares in the last quarter. Proficio Capital Partners LLC bought a new position in Equinix in the fourth quarter valued at $246,000. Finally, JPMorgan Chase & Co. grew its position in Equinix by 17.9% in the third quarter. JPMorgan Chase & Co. now owns 1,338,597 shares of the financial services provider’s stock valued at $1,188,180,000 after purchasing an additional 203,656 shares in the last quarter. 94.94% of the stock is owned by institutional investors.

Equinix Trading Up 0.4 %

Shares of EQIX stock opened at $837.68 on Monday. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.19. The stock has a market cap of $81.53 billion, a P/E ratio of 97.97, a price-to-earnings-growth ratio of 1.78 and a beta of 0.74. The stock has a 50 day simple moving average of $912.40 and a 200 day simple moving average of $908.72. Equinix, Inc. has a 1 year low of $684.14 and a 1 year high of $994.03.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share for the quarter, topping analysts’ consensus estimates of $2.75 by $5.17. Equinix had a net margin of 9.32% and a return on equity of 6.31%. On average, research analysts predict that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th will be issued a dividend of $4.69 per share. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date of this dividend is Wednesday, February 26th. This is an increase from Equinix’s previous quarterly dividend of $4.26. Equinix’s dividend payout ratio is 219.42%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Citizens Jmp raised shares of Equinix to a “strong-buy” rating in a research report on Monday, January 27th. JMP Securities reissued a “market outperform” rating and issued a $1,200.00 target price on shares of Equinix in a research note on Thursday, February 13th. Barclays raised their target price on shares of Equinix from $810.00 to $822.00 and gave the company an “equal weight” rating in a research note on Monday, November 18th. Scotiabank lifted their target price on Equinix from $1,033.00 to $1,040.00 and gave the stock a “sector outperform” rating in a research note on Monday, March 3rd. Finally, Truist Financial reduced their price objective on shares of Equinix from $1,028.00 to $990.00 and set a “buy” rating for the company in a research report on Monday, March 10th. Three research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Equinix currently has a consensus rating of “Buy” and an average price target of $989.35.

Insider Transactions at Equinix

In other news, Chairman Charles J. Meyers sold 5,788 shares of the stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $909.81, for a total value of $5,265,980.28. Following the completion of the transaction, the chairman now owns 15,233 shares of the company’s stock, valued at approximately $13,859,135.73. This represents a 27.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Adaire Fox-Martin sold 1,370 shares of the stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $909.51, for a total value of $1,246,028.70. Following the completion of the transaction, the chief executive officer now owns 4,329 shares of the company’s stock, valued at $3,937,268.79. This represents a 24.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,054 shares of company stock valued at $17,466,950. Company insiders own 0.27% of the company’s stock.

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.