CCM Investment Advisers LLC Raises Position in Equinix, Inc. (NASDAQ:EQIX)

CCM Investment Advisers LLC grew its holdings in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 5.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,513 shares of the financial services provider's stock after buying an additional 592 shares during the period. CCM Investment Advisers LLC's holdings in Equinix were worth $10,856,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Inspire Trust Co. N.A. raised its holdings in Equinix by 0.7% in the 3rd quarter. Inspire Trust Co. N.A. now owns 1,700 shares of the financial services provider's stock valued at $1,509,000 after acquiring an additional 11 shares in the last quarter. GS Investments Inc. grew its holdings in shares of Equinix by 0.5% during the 3rd quarter. GS Investments Inc. now owns 2,351 shares of the financial services provider's stock valued at $2,087,000 after purchasing an additional 12 shares during the last quarter. GHP Investment Advisors Inc. increased its position in Equinix by 50.0% during the 3rd quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider's stock worth $35,000 after purchasing an additional 13 shares in the last quarter. Fortitude Family Office LLC lifted its stake in Equinix by 50.0% in the 3rd quarter. Fortitude Family Office LLC 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. Finally, Abbrea Capital LLC boosted its holdings in shares of Equinix by 5.5% during the 2nd quarter. Abbrea Capital LLC now owns 270 shares of the financial services provider's stock valued at $204,000 after acquiring an additional 14 shares in the last quarter. 94.94% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on EQIX. Royal Bank of Canada upped their price target on Equinix from $936.00 to $1,025.00 and gave the company an "outperform" rating in a research report on Wednesday, December 11th. Hsbc Global Res upgraded shares of Equinix from a "hold" rating to a "strong-buy" rating in a research report on Friday, October 4th. Stifel Nicolaus lifted their target price on shares of Equinix from $995.00 to $1,080.00 and gave the stock a "buy" rating in a research note on Wednesday, November 20th. Scotiabank upped their price target on shares of Equinix from $954.00 to $985.00 and gave the company a "sector outperform" rating in a research report on Thursday, October 31st. Finally, The Goldman Sachs Group boosted their price objective on Equinix from $870.00 to $980.00 and gave the company a "buy" rating in a research note on Thursday, September 26th. Three equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $976.81.

Equinix Stock Performance

Shares of EQIX traded down $51.21 on Friday, reaching $899.83. 780,909 shares of the company's stock traded hands, compared to its average volume of 482,334. The stock has a market cap of $86.82 billion, a PE ratio of 81.14, a PEG ratio of 2.48 and a beta of 0.72. The stock's 50 day simple moving average is $941.24 and its two-hundred day simple moving average is $869.42. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.12. Equinix, Inc. has a 52-week low of $684.14 and a 52-week high of $994.03.

Equinix Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Wednesday, November 13th were given a $4.26 dividend. This represents a $17.04 dividend on an annualized basis and a yield of 1.89%. The ex-dividend date was Wednesday, November 13th. Equinix's dividend payout ratio is currently 153.65%.

Insider Activity at Equinix

In related news, Director Christopher B. Paisley sold 100 shares of the business's stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $891.00, for a total transaction of $89,100.00. Following the completion of the transaction, the director now directly owns 17,794 shares in the company, valued at $15,854,454. The trade was a 0.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Adaire Fox-Martin sold 2,965 shares of the firm's stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $961.62, for a total transaction of $2,851,203.30. Following the sale, the chief executive officer now owns 3,069 shares in the company, valued at approximately $2,951,211.78. This trade represents a 49.14 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,398 shares of company stock worth $7,906,218. 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.