Equinix, Inc. (NASDAQ:EQIX) Stock Position Decreased by Whittier Trust Co. of Nevada Inc.

Whittier Trust Co. of Nevada Inc. trimmed its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 2.8% in the fourth quarter, HoldingsChannel reports. The firm owned 735 shares of the financial services provider’s stock after selling 21 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Equinix were worth $693,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of EQIX. Principal Financial Group Inc. boosted its stake in Equinix by 0.3% during the 3rd 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 purchasing an additional 5,910 shares during the period. OneDigital Investment Advisors LLC acquired a new position in Equinix during the 3rd quarter valued at about $224,000. PNC Financial Services Group Inc. boosted its stake in Equinix by 4.2% during the 3rd quarter. PNC Financial Services Group Inc. now owns 13,168 shares of the financial services provider’s stock valued at $11,688,000 after purchasing an additional 531 shares during the period. Advisors Asset Management Inc. boosted its stake in Equinix by 19.8% during the 3rd quarter. Advisors Asset Management Inc. now owns 4,691 shares of the financial services provider’s stock valued at $4,164,000 after purchasing an additional 774 shares during the period. Finally, First Horizon Advisors Inc. boosted its stake in Equinix by 76.5% during the 3rd quarter. First Horizon Advisors Inc. now owns 90 shares of the financial services provider’s stock valued at $80,000 after purchasing an additional 39 shares during the period. 94.94% of the stock is owned by institutional investors and hedge funds.

Equinix Stock Down 2.0 %

EQIX stock opened at $834.59 on Friday. Equinix, Inc. has a 12-month low of $684.14 and a 12-month high of $994.03. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.19. The company has a market cap of $81.23 billion, a price-to-earnings ratio of 97.61, a PEG ratio of 1.78 and a beta of 0.74. The company has a 50 day moving average of $903.56 and a two-hundred day moving average of $908.81.

Equinix (NASDAQ:EQIX) last released its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share for the quarter, beating analysts’ consensus estimates of $2.75 by $5.17. Equinix had a net margin of 9.32% and a return on equity of 6.31%. On average, equities analysts anticipate that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Increases Dividend

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

Insider Activity at Equinix

In other Equinix news, insider Brandi Galvin Morandi sold 684 shares of the firm’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $940.51, for a total value of $643,308.84. Following the sale, the insider now directly owns 8,377 shares in the company, valued at $7,878,652.27. This trade represents a 7.55 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Keith D. Taylor sold 2,454 shares of the firm’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $929.34, for a total transaction of $2,280,600.36. Following the completion of the sale, the chief financial officer now owns 24,402 shares in the company, valued at $22,677,754.68. This represents a 9.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,054 shares of company stock worth $17,466,950. 0.27% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on EQIX. Moffett Nathanson raised shares of Equinix from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 5th. Royal Bank of Canada increased their target price on shares of Equinix from $936.00 to $1,025.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. Truist Financial cut their target price on shares of Equinix from $1,028.00 to $990.00 and set a “buy” rating for the company in a research note on Monday, March 10th. Barclays increased their target price on shares of Equinix from $822.00 to $834.00 and gave the company an “equal weight” rating in a research note on Thursday. Finally, Oppenheimer boosted their price target on shares of Equinix from $950.00 to $975.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. Three investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $990.06.

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.