Alliancebernstein L.P. Has $215.79 Million Stock Position in Equinix, Inc. (NASDAQ:EQIX)

Alliancebernstein L.P. lowered its stake in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 9.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 228,856 shares of the financial services provider's stock after selling 25,207 shares during the period. Alliancebernstein L.P. owned 0.24% of Equinix worth $215,786,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of EQIX. Norges Bank acquired a new position in Equinix in the fourth quarter worth about $1,067,270,000. Wellington Management Group LLP grew its position in shares of Equinix by 28.7% in the 4th quarter. Wellington Management Group LLP now owns 1,804,227 shares of the financial services provider's stock worth $1,701,188,000 after acquiring an additional 401,991 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Equinix in the 4th quarter valued at approximately $328,899,000. Proficio Capital Partners LLC acquired a new stake in shares of Equinix during the 4th quarter valued at approximately $246,000. Finally, JPMorgan Chase & Co. lifted its stake in Equinix by 17.9% during 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 purchasing an additional 203,656 shares during the last quarter. Institutional investors own 94.94% of the company's stock.

Equinix Price Performance

Equinix stock traded down $30.11 during trading hours on Thursday, hitting $801.44. 1,222,599 shares of the company traded hands, compared to its average volume of 549,712. Equinix, Inc. has a 1-year low of $684.14 and a 1-year high of $994.03. The firm has a market cap of $78.01 billion, a P/E ratio of 93.74, a P/E/G ratio of 1.78 and a beta of 0.74. The firm's 50-day simple moving average is $889.74 and its two-hundred day simple moving average is $907.72. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.19.

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Equinix (NASDAQ:EQIX - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $7.92 EPS 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%. As a group, analysts forecast that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th were issued a $4.69 dividend. This is a positive change from Equinix's previous quarterly dividend of $4.26. The ex-dividend date was Wednesday, February 26th. This represents a $18.76 annualized dividend and a dividend yield of 2.34%. Equinix's dividend payout ratio is 219.42%.

Analyst Ratings Changes

EQIX has been the topic of a number of research reports. Moffett Nathanson raised shares of Equinix from a "hold" rating to a "strong-buy" rating in a report on Wednesday, February 5th. Wolfe Research upgraded shares of Equinix from a "peer perform" rating to an "outperform" rating and set a $978.00 price objective on the stock in a research note on Thursday, March 27th. Citizens Jmp raised shares of Equinix to a "strong-buy" rating in a report on Monday, January 27th. Royal Bank of Canada upped their target price on Equinix from $936.00 to $1,025.00 and gave the company an "outperform" rating in a report on Wednesday, December 11th. Finally, JMP Securities reissued a "market outperform" rating and issued a $1,200.00 price target on shares of Equinix in a report on Thursday, February 13th. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and four have given a strong buy rating to the stock. According to MarketBeat.com, Equinix presently has a consensus rating of "Buy" and a consensus target price of $1,007.59.

Insider Activity at Equinix

In other news, EVP Raouf Abdel sold 1,331 shares of the firm's stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $903.71, for a total transaction of $1,202,838.01. Following the completion of the transaction, the executive vice president now owns 6,579 shares in the company, valued at approximately $5,945,508.09. This trade represents a 16.83 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Adaire Fox-Martin sold 1,370 shares of the business's stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $909.51, for a total transaction of $1,246,028.70. Following the completion of the sale, the chief executive officer now owns 4,329 shares in the company, valued at $3,937,268.79. The trade was a 24.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,054 shares of company stock valued at $17,466,950 over the last 90 days. 0.27% of the stock is currently owned by corporate insiders.

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.