Altman Advisors Inc. Grows Stock Holdings in Equinix, Inc. (NASDAQ:EQIX)

Altman Advisors Inc. lifted its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 1.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 1,958 shares of the financial services provider’s stock after buying an additional 23 shares during the quarter. Altman Advisors Inc.’s holdings in Equinix were worth $1,846,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Sagespring Wealth Partners LLC bought a new stake in Equinix during the 4th quarter valued at $763,000. Townsquare Capital LLC increased its stake in shares of Equinix by 11.8% during the fourth quarter. Townsquare Capital LLC now owns 2,172 shares of the financial services provider’s stock valued at $2,048,000 after buying an additional 229 shares during the period. Rockefeller Capital Management L.P. increased its stake in shares of Equinix by 4.2% during the fourth quarter. Rockefeller Capital Management L.P. now owns 71,547 shares of the financial services provider’s stock valued at $67,443,000 after buying an additional 2,896 shares during the period. Heritage Trust Co bought a new stake in shares of Equinix in the fourth quarter valued at about $888,000. Finally, Argent Trust Co lifted its stake in Equinix by 30.6% in the fourth quarter. Argent Trust Co now owns 533 shares of the financial services provider’s stock worth $503,000 after acquiring an additional 125 shares during the period. Institutional investors own 94.94% of the company’s stock.

Equinix Stock Performance

Shares of EQIX opened at $776.83 on Friday. The stock has a 50-day moving average of $863.06 and a two-hundred day moving average of $900.92. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.63 and a current ratio of 1.63. The stock has a market cap of $75.61 billion, a P/E ratio of 90.86, a P/E/G ratio of 1.78 and a beta of 0.95. Equinix, Inc. has a one year low of $684.14 and a one year high of $994.03.

Equinix (NASDAQ:EQIX) last released its earnings results on Wednesday, February 12th. The financial services provider reported $7.92 EPS 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, research analysts predict that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th were paid a $4.69 dividend. The ex-dividend date was Wednesday, February 26th. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.41%. This is a positive change from Equinix’s previous quarterly dividend of $4.26. Equinix’s dividend payout ratio is presently 219.42%.

Analyst Ratings Changes

A number of research analysts have commented on EQIX shares. Citizens Jmp raised shares of Equinix to a “strong-buy” rating in a research report on Monday, January 27th. BMO Capital Markets cut their price objective on shares of Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating on the stock in a report on Thursday, February 13th. Cfra Research upgraded Equinix from a “hold” rating to a “strong-buy” rating in a report on Friday, March 28th. Mizuho cut their price target on Equinix from $1,094.00 to $1,053.00 and set an “outperform” rating on the stock in a report on Friday, March 28th. Finally, JMP Securities reissued a “market outperform” rating and issued a $1,200.00 price target on shares of Equinix in a research report on Thursday, February 13th. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and four have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Equinix currently has an average rating of “Buy” and a consensus price target of $1,007.59.

Insider Buying and Selling

In other Equinix news, EVP Raouf Abdel sold 1,331 shares of the stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $903.71, for a total transaction of $1,202,838.01. Following the sale, the executive vice president now directly owns 6,579 shares of the company’s stock, valued at approximately $5,945,508.09. This trade represents a 16.83 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Adaire Fox-Martin sold 1,370 shares of the business’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 transaction, the chief executive officer now directly owns 4,329 shares of the company’s stock, valued at approximately $3,937,268.79. This trade represents a 24.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,054 shares of company stock valued at $17,466,950 over the last 90 days. Insiders own 0.27% of the company’s stock.

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.