Adell Harriman & Carpenter Inc. Trims Position in Equinix, Inc. (NASDAQ:EQIX)

Adell Harriman & Carpenter Inc. trimmed its stake in Equinix, Inc. (NASDAQ:EQIX) by 0.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,823 shares of the financial services provider’s stock after selling 110 shares during the period. Equinix comprises 1.3% of Adell Harriman & Carpenter Inc.’s holdings, making the stock its 22nd biggest holding. Adell Harriman & Carpenter Inc.’s holdings in Equinix were worth $18,691,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Equinix by 302.7% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,082,455 shares of the financial services provider’s stock worth $960,820,000 after acquiring an additional 813,666 shares in the last quarter. Pathway Financial Advisers LLC boosted its stake in shares of Equinix by 89,348.4% during the third quarter. Pathway Financial Advisers LLC now owns 398,940 shares of the financial services provider’s stock valued at $354,111,000 after purchasing an additional 398,494 shares in the last quarter. Adelante Capital Management LLC increased its holdings in Equinix by 202.3% during the third quarter. Adelante Capital Management LLC now owns 514,224 shares of the financial services provider’s stock valued at $456,441,000 after buying an additional 344,114 shares during the period. JPMorgan Chase & Co. raised its stake in Equinix by 17.9% in the third quarter. JPMorgan Chase & Co. now owns 1,338,597 shares of the financial services provider’s stock worth $1,188,180,000 after buying an additional 203,656 shares in the last quarter. Finally, abrdn plc lifted its holdings in Equinix by 49.2% during the fourth quarter. abrdn plc now owns 464,840 shares of the financial services provider’s stock worth $437,563,000 after buying an additional 153,215 shares during the period. 94.94% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Equinix

In other news, Director Christopher B. Paisley sold 100 shares of Equinix stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $891.00, for a total transaction of $89,100.00. Following the completion of the transaction, the director now directly owns 17,794 shares of the company’s stock, valued at $15,854,454. The trade was a 0.56 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Raouf Abdel sold 1,331 shares of the stock in a transaction on 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 in the company, valued at $5,945,508.09. This trade represents a 16.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,801 shares of company stock valued at $15,530,564. 0.27% of the stock is owned by insiders.

Equinix Stock Up 1.1 %

Shares of EQIX stock opened at $933.60 on Friday. Equinix, Inc. has a fifty-two week low of $684.14 and a fifty-two week high of $994.03. The firm has a market capitalization of $90.08 billion, a PE ratio of 84.18, a P/E/G ratio of 2.23 and a beta of 0.72. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.16 and a current ratio of 1.16. The stock’s 50-day simple moving average is $935.90 and its 200-day simple moving average is $894.96.

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 the consensus estimate of $2.75 by $5.17. Equinix had a net margin of 12.29% and a return on equity of 8.34%. Equities analysts expect that Equinix, Inc. will post 31.09 earnings per share for the current year.

Equinix Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, February 26th will be issued a dividend of $4.69 per share. This represents a $18.76 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend is Wednesday, February 26th. This is a boost from Equinix’s previous quarterly dividend of $4.26. Equinix’s dividend payout ratio (DPR) is 153.65%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Scotiabank cut their price target on Equinix from $1,114.00 to $1,033.00 and set a “sector outperform” rating on the stock in a report on Thursday. Oppenheimer boosted their target price on shares of Equinix from $950.00 to $975.00 and gave the stock an “outperform” rating in a report on Thursday. Royal Bank of Canada lifted their price objective on shares of Equinix from $936.00 to $1,025.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. Stifel Nicolaus increased their target price on shares of Equinix from $995.00 to $1,080.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Finally, BMO Capital Markets cut their price target 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. Three research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, Equinix presently has an average rating of “Buy” and a consensus price target of $994.82.

About Equinix

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.