Capital Group Private Client Services Inc. Sells 1,899 Shares of Equinix, Inc. (NASDAQ:EQIX)

Capital Group Private Client Services Inc. reduced its stake in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 4.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,834 shares of the financial services provider's stock after selling 1,899 shares during the quarter. Capital Group Private Client Services Inc.'s holdings in Equinix were worth $35,673,000 at the end of the most recent quarter.

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

Insider Buying and Selling

In other Equinix news, insider Kurt Pletcher sold 215 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $929.73, for a total value of $199,891.95. Following the completion of the transaction, the insider now directly owns 1,245 shares in the company, valued at approximately $1,157,513.85. This trade represents a 14.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Christopher B. Paisley sold 125 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $912.21, for a total value of $114,026.25. Following the completion of the transaction, the director now directly owns 17,669 shares of the company's stock, valued at $16,117,838.49. This represents a 0.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,040 shares of company stock worth $6,547,068 in the last ninety days. 0.27% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on EQIX shares. Moffett Nathanson raised shares of Equinix from a "hold" rating to a "strong-buy" rating in a research note 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 for the company in a research report on Thursday, March 27th. BMO Capital Markets reduced their target price on Equinix from $1,085.00 to $1,065.00 and set an "outperform" rating on the stock in a report on Thursday, February 13th. Barclays raised their price target on Equinix from $822.00 to $834.00 and gave the stock an "equal weight" rating in a research report on Thursday, March 20th. Finally, Cfra Research upgraded shares of Equinix from a "hold" rating to a "strong-buy" rating in a report on Friday, March 28th. Two equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and four have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $1,004.94.

Equinix Price Performance

EQIX stock traded up $15.14 during midday trading on Wednesday, reaching $806.26. The company had a trading volume of 208,351 shares, compared to its average volume of 551,398. The company has a market capitalization of $78.87 billion, a price-to-earnings ratio of 94.30, a price-to-earnings-growth ratio of 1.78 and a beta of 0.95. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.63 and a quick ratio of 1.63. Equinix, Inc. has a 1-year low of $684.14 and a 1-year high of $994.03. The stock has a 50 day moving average price of $841.89 and a 200-day moving average price of $896.22.

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

Equinix Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th were issued a dividend of $4.69 per share. The ex-dividend date was Wednesday, February 26th. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.33%. This is a boost from Equinix's previous quarterly dividend of $4.26. Equinix's payout ratio is 219.42%.

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.