Advisors Asset Management Inc. Boosts Stock Position in Equinix, Inc. (NASDAQ:EQIX)

Advisors Asset Management Inc. grew its holdings in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 21.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 5,682 shares of the financial services provider's stock after acquiring an additional 991 shares during the period. Advisors Asset Management Inc.'s holdings in Equinix were worth $5,358,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Kestra Investment Management LLC acquired a new stake in Equinix during the 4th quarter valued at approximately $31,000. J.Safra Asset Management Corp bought a new stake in shares of Equinix in the 4th quarter valued at $39,000. Sierra Ocean LLC acquired a new stake in shares of Equinix during the fourth quarter worth $42,000. Dunhill Financial LLC raised its stake in Equinix by 108.7% during the third quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider's stock worth $43,000 after buying an additional 25 shares during the last quarter. Finally, Thompson Investment Management Inc. acquired a new position in Equinix in the fourth quarter valued at $47,000. Institutional investors and hedge funds own 94.94% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Moffett Nathanson upgraded Equinix from a "hold" rating to a "strong-buy" rating in a report on Wednesday, February 5th. Truist Financial reduced their price target on shares of Equinix from $1,028.00 to $990.00 and set a "buy" rating for the company in a report on Monday, March 10th. Scotiabank raised their target price on Equinix from $1,033.00 to $1,040.00 and gave the company a "sector outperform" rating in a research note on Monday, March 3rd. JMP Securities reaffirmed a "market outperform" rating and set a $1,200.00 price target on shares of Equinix in a research note on Thursday, February 13th. Finally, Wells Fargo & Company cut their price target on Equinix from $1,075.00 to $1,065.00 and set an "overweight" rating on the stock in a report on Thursday, February 13th. Three equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $990.06.

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Equinix Stock Up 2.1 %

EQIX stock traded up $17.85 during trading on Monday, reaching $852.44. The stock had a trading volume of 745,799 shares, compared to its average volume of 520,711. 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 capitalization of $82.97 billion, a price-to-earnings ratio of 99.70, a P/E/G ratio of 1.78 and a beta of 0.74. Equinix, Inc. has a one year low of $684.14 and a one year high of $994.03. The company's 50 day moving average is $903.56 and its two-hundred day moving average is $909.38.

Equinix (NASDAQ:EQIX - Get Free Report) last announced its earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share for the quarter, topping analysts' consensus estimates of $2.75 by $5.17. Equinix had a return on equity of 6.31% and a net margin of 9.32%. Equities research analysts forecast that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th were given a dividend of $4.69 per share. The ex-dividend date of this dividend was Wednesday, February 26th. This is a positive change from Equinix's previous quarterly dividend of $4.26. This represents a $18.76 annualized dividend and a dividend yield of 2.20%. Equinix's dividend payout ratio (DPR) is currently 219.42%.

Insider Transactions at Equinix

In other news, Chairman Charles J. Meyers sold 3,562 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $929.04, for a total transaction of $3,309,240.48. Following the completion of the transaction, the chairman now owns 15,513 shares in the company, valued at approximately $14,412,197.52. This represents a 18.67 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Brandi Galvin Morandi sold 684 shares of Equinix stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $940.51, for a total value of $643,308.84. Following the completion of the sale, the insider now directly owns 8,377 shares of the company's stock, valued at approximately $7,878,652.27. This trade represents a 7.55 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,054 shares of company stock worth $17,466,950 in the last ninety days. Company insiders own 0.27% of the company's stock.

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.