Chevy Chase Trust Holdings LLC Sells 273 Shares of Equinix, Inc. (NASDAQ:EQIX)

Chevy Chase Trust Holdings LLC lowered its stake in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 0.5% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 50,632 shares of the financial services provider's stock after selling 273 shares during the period. Chevy Chase Trust Holdings LLC owned approximately 0.05% of Equinix worth $47,740,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. GHP Investment Advisors Inc. grew its holdings in shares of Equinix by 50.0% in the third quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider's stock worth $35,000 after acquiring an additional 13 shares during the period. Fortitude Family Office LLC lifted its holdings in Equinix by 50.0% in the third quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider's stock valued at $35,000 after acquiring an additional 13 shares during the period. Dunhill Financial LLC boosted its position in Equinix by 108.7% in the third quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider's stock worth $43,000 after purchasing an additional 25 shares during the last quarter. Thompson Investment Management Inc. bought a new stake in shares of Equinix during the 4th quarter valued at about $47,000. Finally, Friedenthal Financial purchased a new stake in shares of Equinix during the 4th quarter valued at about $58,000. Hedge funds and other institutional investors own 94.94% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Oppenheimer raised their price objective on shares of Equinix from $950.00 to $975.00 and gave the stock an "outperform" rating in a report on Thursday, February 13th. Evercore ISI lifted their price target on shares of Equinix from $945.00 to $975.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 23rd. Wells Fargo & Company reduced their price objective on Equinix from $1,075.00 to $1,065.00 and set an "overweight" rating for the company in a research note on Thursday, February 13th. TD Cowen lifted their target price on Equinix from $865.00 to $984.00 and gave the company a "buy" rating in a research report on Thursday, October 31st. Finally, BMO Capital Markets cut their price target on Equinix from $1,085.00 to $1,065.00 and set an "outperform" rating for the company 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 assigned a strong buy rating to the company's stock. According to MarketBeat, Equinix presently has an average rating of "Buy" and a consensus price target of $994.82.

Insider Activity at Equinix

In related news, EVP Raouf Abdel sold 1,331 shares of Equinix 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 directly owns 6,579 shares of the company's stock, valued at approximately $5,945,508.09. The trade was a 16.83 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Keith D. Taylor sold 1,500 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $971.18, for a total transaction of $1,456,770.00. Following the completion of the sale, the chief financial officer now directly owns 18,966 shares in the company, valued at $18,419,399.88. This trade represents a 7.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,701 shares of company stock valued at $15,441,464. Insiders own 0.27% of the company's stock.

Equinix Price Performance

Equinix stock traded down $2.56 during midday trading on Tuesday, reaching $931.04. 508,640 shares of the stock traded hands, compared to its average volume of 499,736. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.12. Equinix, Inc. has a 12 month low of $684.14 and a 12 month high of $994.03. The stock's fifty day moving average is $934.17 and its 200-day moving average is $898.55. The stock has a market cap of $89.84 billion, a P/E ratio of 83.95, a PEG ratio of 2.23 and a beta of 0.72.

Equinix (NASDAQ:EQIX - Get Free Report) last posted its earnings results 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 return on equity of 8.34% and a net margin of 12.29%. As a group, equities research analysts anticipate that Equinix, Inc. will post 31.09 EPS for the current year.

Equinix Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th will be given a dividend of $4.69 per share. This represents a $18.76 annualized dividend and a dividend yield of 2.01%. This is a boost from Equinix's previous quarterly dividend of $4.26. The ex-dividend date is Wednesday, February 26th. Equinix's dividend payout ratio is currently 153.65%.

About Equinix

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.