NewEdge Wealth LLC Has $3.67 Million Position in Equinix, Inc. (NASDAQ:EQIX)

NewEdge Wealth LLC reduced its stake in Equinix, Inc. (NASDAQ:EQIX) by 3.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 3,893 shares of the financial services provider’s stock after selling 133 shares during the quarter. NewEdge Wealth LLC’s holdings in Equinix were worth $3,671,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in EQIX. Kestra Investment Management LLC bought a new position in Equinix in the 4th quarter worth approximately $31,000. Sierra Ocean LLC bought a new position in Equinix in the 4th quarter worth approximately $42,000. Dunhill Financial LLC increased its position in Equinix by 108.7% in the 3rd quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider’s stock worth $43,000 after buying an additional 25 shares during the period. Thompson Investment Management Inc. bought a new position in Equinix in the 4th quarter worth approximately $47,000. Finally, Key Financial Inc increased its position in Equinix by 30.4% in the 4th quarter. Key Financial Inc now owns 60 shares of the financial services provider’s stock worth $57,000 after buying an additional 14 shares during the period. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Equinix Price Performance

Equinix stock opened at $904.62 on Friday. 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 firm has a market cap of $88.05 billion, a P/E ratio of 105.80, a P/E/G ratio of 1.78 and a beta of 0.72. The business’s fifty day moving average is $928.20 and its two-hundred day moving average is $904.71. Equinix, Inc. has a 52 week low of $684.14 and a 52 week high of $994.03.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings data 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%. Equities research analysts forecast that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th will be paid a $4.69 dividend. The ex-dividend date of this dividend is Wednesday, February 26th. This represents a $18.76 dividend on an annualized basis and a yield of 2.07%. This is a positive change from Equinix’s previous quarterly dividend of $4.26. Equinix’s payout ratio is currently 219.42%.

Insiders Place Their Bets

In other news, CFO Keith D. Taylor sold 1,500 shares of the company’s stock in a transaction on 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 transaction, the chief financial officer now owns 18,966 shares of the company’s stock, valued at $18,419,399.88. This represents a 7.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Kurt Pletcher sold 222 shares of the company’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $962.20, for a total value of $213,608.40. Following the transaction, the insider now directly owns 1,015 shares in the company, valued at $976,633. This trade represents a 17.95 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,741 shares of company stock valued at $21,988,532. 0.27% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

EQIX has been the topic of several recent analyst reports. Barclays lifted their price target on Equinix from $810.00 to $822.00 and gave the stock an “equal weight” rating in a research report on Monday, November 18th. Citizens Jmp upgraded Equinix to a “strong-buy” rating in a research report on Monday, January 27th. Wells Fargo & Company lowered their price objective on Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating on the stock in a research report on Thursday, February 13th. Royal Bank of Canada boosted their price objective on Equinix from $936.00 to $1,025.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Finally, Moffett Nathanson upgraded Equinix from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 5th. Three equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $994.82.

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.