Alpine Woods Capital Investors LLC Has $7.50 Million Position in Equinix, Inc. (NASDAQ:EQIX)

Alpine Woods Capital Investors LLC boosted its holdings in shares of Equinix, Inc. (NASDAQ:EQIX) by 0.2% in the 4th quarter, Holdings Channel reports. The firm owned 7,958 shares of the financial services provider’s stock after buying an additional 19 shares during the period. Equinix accounts for about 1.4% of Alpine Woods Capital Investors LLC’s holdings, making the stock its 18th largest position. Alpine Woods Capital Investors LLC’s holdings in Equinix were worth $7,504,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Oppenheimer & Co. Inc. lifted its stake in Equinix by 61.6% during the fourth quarter. Oppenheimer & Co. Inc. now owns 8,427 shares of the financial services provider’s stock worth $7,946,000 after purchasing an additional 3,212 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Equinix by 0.4% during the fourth quarter. Bank of New York Mellon Corp now owns 628,059 shares of the financial services provider’s stock worth $592,191,000 after purchasing an additional 2,560 shares during the last quarter. National Pension Service lifted its stake in Equinix by 1.3% during the fourth quarter. National Pension Service now owns 243,149 shares of the financial services provider’s stock worth $229,263,000 after purchasing an additional 3,164 shares during the last quarter. Brookfield Corp ON lifted its stake in Equinix by 67.3% during the third quarter. Brookfield Corp ON now owns 80,760 shares of the financial services provider’s stock worth $71,685,000 after purchasing an additional 32,481 shares during the last quarter. Finally, Empowered Funds LLC lifted its stake in shares of Equinix by 19.2% in the 4th quarter. Empowered Funds LLC now owns 2,504 shares of the financial services provider’s stock valued at $2,361,000 after acquiring an additional 404 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Kurt Pletcher sold 341 shares of the firm’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $903.72, for a total value of $308,168.52. Following the completion of the sale, the insider now directly owns 1,430 shares in the company, valued at $1,292,319.60. This trade represents a 19.25 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Adaire Fox-Martin sold 1,370 shares of the firm’s 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 sale, the chief executive officer now owns 4,329 shares of the company’s stock, valued at approximately $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 ninety days, insiders sold 19,054 shares of company stock worth $17,466,950. Company insiders own 0.27% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on EQIX. Wells Fargo & Company dropped their price target on Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating for the company in a research note on Thursday, February 13th. Truist Financial dropped their price target on Equinix from $1,028.00 to $990.00 and set a “buy” rating for the company in a research note on Monday. Citizens Jmp upgraded Equinix to a “strong-buy” rating in a research note on Monday, January 27th. Scotiabank increased their price target on Equinix from $1,033.00 to $1,040.00 and gave the company a “sector outperform” rating in a research note on Monday, March 3rd. Finally, BMO Capital Markets dropped their price target on Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating for the company in a research note on Thursday, February 13th. Three analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat, Equinix currently has an average rating of “Buy” and an average target price of $989.35.

Equinix Stock Performance

Shares of Equinix stock opened at $833.95 on Friday. 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 business has a 50-day moving average price of $914.84 and a two-hundred day moving average price of $907.30. Equinix, Inc. has a 1-year low of $684.14 and a 1-year high of $994.03. The company has a market cap of $81.17 billion, a P/E ratio of 97.54, a PEG ratio of 1.78 and a beta of 0.74.

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 return on equity of 6.31% and a net margin of 9.32%. As a group, analysts anticipate that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th will be issued a dividend of $4.69 per share. This is an increase from Equinix’s previous quarterly dividend of $4.26. This represents a $18.76 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date of this dividend is Wednesday, February 26th. Equinix’s dividend payout ratio (DPR) is presently 219.42%.

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.