Charles Schwab Investment Management Inc. boosted its holdings in Equinix, Inc. (NASDAQ:EQIX – Get Rating) by 8.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 841,070 shares of the financial services provider’s stock after acquiring an additional 62,336 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Equinix were worth $711,412,000 as of its most recent filing with the SEC.
A number of other institutional investors have also added to or reduced their stakes in EQIX. PGGM Investments boosted its stake in shares of Equinix by 68.0% during the 4th quarter. PGGM Investments now owns 745,654 shares of the financial services provider’s stock worth $630,704,000 after acquiring an additional 301,802 shares in the last quarter. Liontrust Investment Partners LLP purchased a new stake in Equinix during the third quarter worth $203,143,000. Morgan Stanley grew its holdings in Equinix by 42.4% in the second quarter. Morgan Stanley now owns 634,960 shares of the financial services provider’s stock valued at $509,619,000 after purchasing an additional 189,179 shares during the last quarter. Invesco Ltd. increased its position in shares of Equinix by 12.2% in the third quarter. Invesco Ltd. now owns 1,373,922 shares of the financial services provider’s stock valued at $1,085,577,000 after buying an additional 149,404 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Equinix by 10.1% during the 4th quarter. JPMorgan Chase & Co. now owns 1,415,877 shares of the financial services provider’s stock worth $1,197,606,000 after buying an additional 130,179 shares during the last quarter. 92.68% of the stock is owned by institutional investors.
Shares of Equinix stock traded up $6.21 during trading hours on Thursday, hitting $643.65. The company’s stock had a trading volume of 4,804 shares, compared to its average volume of 511,829. The business has a fifty day moving average of $719.49 and a 200 day moving average of $747.13. Equinix, Inc. has a 1-year low of $621.34 and a 1-year high of $885.26. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 1.25. The company has a market capitalization of $58.58 billion, a PE ratio of 117.61, a P/E/G ratio of 3.05 and a beta of 0.46.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 15th. Investors of record on Wednesday, May 18th will be paid a dividend of $3.10 per share. This represents a $12.40 annualized dividend and a yield of 1.93%. The ex-dividend date is Tuesday, May 17th. Equinix’s dividend payout ratio (DPR) is 228.78%.
Several research firms have weighed in on EQIX. Wells Fargo & Company dropped their target price on shares of Equinix from $825.00 to $775.00 and set an “overweight” rating for the company in a report on Thursday, February 17th. Cowen lifted their price objective on Equinix from $880.00 to $890.00 and gave the stock a “market perform” rating in a research report on Thursday, February 17th. Deutsche Bank Aktiengesellschaft increased their target price on Equinix from $780.00 to $785.00 and gave the company a “buy” rating in a report on Friday, April 8th. JPMorgan Chase & Co. boosted their price target on Equinix from $860.00 to $880.00 in a report on Friday, April 29th. Finally, Barclays decreased their price objective on Equinix from $829.00 to $815.00 in a research note on Thursday, February 17th. Eight research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $852.59.
In related news, CEO Charles J. Meyers sold 3,171 shares of the business’s stock in a transaction dated Tuesday, February 22nd. The shares were sold at an average price of $681.94, for a total transaction of $2,162,431.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Camp Peter Van sold 424 shares of the firm’s stock in a transaction dated Friday, March 11th. The stock was sold at an average price of $702.71, for a total transaction of $297,949.04. The disclosure for this sale can be found here. Insiders sold a total of 10,783 shares of company stock worth $7,486,677 in the last quarter. 0.32% of the stock is currently owned by company insiders.
About Equinix (Get Rating)
Equinix (Nasdaq: EQIX) is the world's digital infrastructure company, enabling digital leaders to harness a trusted platform to bring together and interconnect the foundational infrastructure that powers their success. Equinix enables today's businesses to access all the right places, partners and possibilities they need to accelerate advantage.
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