Albion Financial Group UT Raises Stock Holdings in Equinix, Inc. (NASDAQ:EQIX)

Albion Financial Group UT raised its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 2.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 915 shares of the financial services provider’s stock after purchasing an additional 21 shares during the quarter. Albion Financial Group UT’s holdings in Equinix were worth $863,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. State Street Corp increased its stake in shares of Equinix by 1.4% in the third quarter. State Street Corp now owns 5,826,082 shares of the financial services provider’s stock worth $5,171,405,000 after buying an additional 81,941 shares during the last quarter. Geode Capital Management LLC grew its stake in Equinix by 1.4% in the third quarter. Geode Capital Management LLC now owns 2,350,508 shares of the financial services provider’s stock worth $2,079,591,000 after purchasing an additional 33,277 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Equinix by 0.3% in the third quarter. Principal Financial Group Inc. now owns 1,894,101 shares of the financial services provider’s stock valued at $1,681,256,000 after buying an additional 5,910 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Equinix by 17.9% during 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 buying an additional 203,656 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Equinix by 5.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,134,171 shares of the financial services provider’s stock worth $1,006,724,000 after buying an additional 53,729 shares during the last quarter. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on EQIX shares. Wells Fargo & Company upped their price target on Equinix from $985.00 to $1,100.00 and gave the company an “overweight” rating in a research report on Tuesday, December 10th. Truist Financial upped their target price on Equinix from $935.00 to $1,090.00 and gave the company a “buy” rating in a report on Friday, November 29th. Barclays boosted their price objective on Equinix from $810.00 to $822.00 and gave the company an “equal weight” rating in a research report on Monday, November 18th. Cfra reaffirmed a “hold” rating on shares of Equinix in a research report on Tuesday, September 24th. Finally, JPMorgan Chase & Co. upped their price target on shares of Equinix from $950.00 to $975.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 1st. Three research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Equinix has a consensus rating of “Moderate Buy” and a consensus price target of $976.81.

Insider Buying and Selling at Equinix

In other Equinix news, CFO Keith D. Taylor sold 1,500 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $971.18, for a total transaction of $1,456,770.00. Following the completion of the sale, the chief financial officer now directly owns 18,966 shares in the company, valued at approximately $18,419,399.88. This trade represents a 7.33 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Charles J. Meyers sold 5,788 shares of the stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $909.81, for a total transaction of $5,265,980.28. Following the completion of the sale, the chairman now directly owns 15,233 shares of the company’s stock, valued at $13,859,135.73. This trade represents a 27.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,412 shares of company stock valued at $18,826,100. 0.27% of the stock is currently owned by corporate insiders.

Equinix Stock Performance

Shares of NASDAQ EQIX opened at $934.00 on Wednesday. Equinix, Inc. has a 52-week low of $684.14 and a 52-week high of $994.03. The stock has a market capitalization of $90.12 billion, a price-to-earnings ratio of 84.22, a PEG ratio of 2.18 and a beta of 0.73. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.12. The stock’s fifty day simple moving average is $942.31 and its 200 day simple moving average is $880.04.

Equinix Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Wednesday, November 13th were issued a dividend of $4.26 per share. The ex-dividend date was Wednesday, November 13th. This represents a $17.04 annualized dividend and a yield of 1.82%. Equinix’s payout ratio is presently 153.65%.

Equinix 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.