Huntington National Bank Grows Stock Holdings in Equinix, Inc. (NASDAQ:EQIX)

Huntington National Bank boosted its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 0.4% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 17,461 shares of the financial services provider’s stock after purchasing an additional 62 shares during the quarter. Huntington National Bank’s holdings in Equinix were worth $15,499,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Cypress Capital Group grew its stake in Equinix by 2.3% in the 2nd quarter. Cypress Capital Group now owns 575 shares of the financial services provider’s stock valued at $435,000 after acquiring an additional 13 shares during the last quarter. MRA Advisory Group lifted its holdings in shares of Equinix by 3.2% in the second quarter. MRA Advisory Group now owns 419 shares of the financial services provider’s stock valued at $317,000 after purchasing an additional 13 shares in the last quarter. GHP Investment Advisors Inc. grew its position in shares of Equinix by 50.0% in the third quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 13 shares during the last quarter. Fortitude Family Office LLC increased its stake in shares of Equinix by 50.0% during the 3rd quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 13 shares in the last quarter. Finally, Banco Santander S.A. raised its position in shares of Equinix by 2.0% during the 1st quarter. Banco Santander S.A. now owns 699 shares of the financial services provider’s stock worth $577,000 after purchasing an additional 14 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Equinix Price Performance

EQIX stock opened at $898.12 on Friday. The company has a market cap of $86.66 billion, a PE ratio of 80.98, a price-to-earnings-growth ratio of 2.27 and a beta of 0.71. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.12. The stock has a 50-day moving average price of $882.45 and a two-hundred day moving average price of $815.17. Equinix, Inc. has a 12-month low of $684.14 and a 12-month high of $943.02.

Equinix Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Wednesday, November 13th will be issued a dividend of $4.26 per share. This represents a $17.04 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date of this dividend is Wednesday, November 13th. Equinix’s payout ratio is currently 153.65%.

Insider Buying and Selling

In related news, EVP Raouf Abdel sold 1,022 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $923.56, for a total value of $943,878.32. Following the completion of the sale, the executive vice president now directly owns 4,893 shares in the company, valued at approximately $4,518,979.08. This represents a 17.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brandi Galvin Morandi sold 1,726 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $904.99, for a total value of $1,562,012.74. Following the completion of the transaction, the insider now directly owns 6,505 shares in the company, valued at $5,886,959.95. This trade represents a 20.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 13,654 shares of company stock valued at $11,577,656. 0.27% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. raised their price target on Equinix from $950.00 to $975.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 1st. Truist Financial lifted their price objective on Equinix from $915.00 to $935.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Scotiabank upped their target price on shares of Equinix from $954.00 to $985.00 and gave the company a “sector outperform” rating in a report on Thursday, October 31st. HSBC upgraded shares of Equinix from a “hold” rating to a “buy” rating and lifted their price target for the stock from $865.00 to $1,000.00 in a report on Friday, October 4th. Finally, BMO Capital Markets upped their price objective on shares of Equinix from $975.00 to $1,020.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Five equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Equinix has a consensus rating of “Moderate Buy” and a consensus target price of $944.63.

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.