Appleton Partners Inc. MA Has $12.52 Million Holdings in Equinix, Inc. (NASDAQ:EQIX)

Appleton Partners Inc. MA raised its stake in Equinix, Inc. (NASDAQ:EQIX) by 5.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,168 shares of the financial services provider’s stock after acquiring an additional 831 shares during the period. Equinix comprises about 1.0% of Appleton Partners Inc. MA’s investment portfolio, making the stock its 29th largest position. Appleton Partners Inc. MA’s holdings in Equinix were worth $12,519,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently bought and sold shares of the stock. Valley National Advisers Inc. grew its holdings in Equinix by 260.0% during the 4th quarter. Valley National Advisers Inc. now owns 36 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 26 shares during the last quarter. Providence Capital Advisors LLC acquired a new position in Equinix during the 3rd quarter worth $29,000. Criterion Capital Advisors LLC bought a new position in Equinix in the 4th quarter valued at $32,000. Operose Advisors LLC acquired a new stake in shares of Equinix in the 3rd quarter valued at $36,000. Finally, Asset Dedication LLC raised its position in shares of Equinix by 92.6% during the third quarter. Asset Dedication LLC now owns 52 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 25 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Equinix Stock Performance

Shares of EQIX traded up $4.74 during midday trading on Tuesday, reaching $767.12. 39,240 shares of the stock were exchanged, compared to its average volume of 593,399. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.19. The stock’s 50 day simple moving average is $755.89 and its 200 day simple moving average is $803.47. Equinix, Inc. has a twelve month low of $677.80 and a twelve month high of $914.93. The company has a market cap of $72.81 billion, a P/E ratio of 76.47, a PEG ratio of 2.67 and a beta of 0.68.

Equinix Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 19th. Shareholders of record on Wednesday, May 22nd will be issued a $4.26 dividend. The ex-dividend date of this dividend is Tuesday, May 21st. This represents a $17.04 annualized dividend and a yield of 2.22%. Equinix’s dividend payout ratio is presently 170.91%.

Insider Activity at Equinix

In other news, insider Brandi Galvin Morandi sold 2,070 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $800.50, for a total transaction of $1,657,035.00. Following the completion of the sale, the insider now owns 12,758 shares of the company’s stock, valued at approximately $10,212,779. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Christopher B. Paisley sold 100 shares of the stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $812.98, for a total value of $81,298.00. Following the completion of the transaction, the director now owns 17,641 shares of the company’s stock, valued at $14,341,780.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Brandi Galvin Morandi sold 2,070 shares of Equinix stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $800.50, for a total transaction of $1,657,035.00. Following the sale, the insider now directly owns 12,758 shares in the company, valued at $10,212,779. The disclosure for this sale can be found here. 0.27% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on EQIX. Truist Financial raised their price objective on shares of Equinix from $915.00 to $950.00 and gave the company a “buy” rating in a research note on Monday, March 18th. HSBC downgraded Equinix from a “buy” rating to a “hold” rating and set a $900.00 price objective for the company. in a report on Wednesday, March 20th. Oppenheimer raised their target price on Equinix from $875.00 to $950.00 and gave the stock an “outperform” rating in a report on Wednesday, March 20th. Morgan Stanley cut their price target on shares of Equinix from $767.00 to $762.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 28th. Finally, TD Cowen reduced their price objective on shares of Equinix from $862.00 to $859.00 and set a “buy” rating on the stock in a research note on Friday, May 10th. Seven investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $872.81.

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.