Summit Financial LLC Purchases 552 Shares of Equinix, Inc. (NASDAQ:EQIX)

Summit Financial LLC increased its position in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 164.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 887 shares of the financial services provider's stock after acquiring an additional 552 shares during the period. Summit Financial LLC's holdings in Equinix were worth $836,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in EQIX. Inspire Trust Co. N.A. lifted its holdings in shares of 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 purchasing an additional 11 shares during the last quarter. Rothschild Investment LLC raised its holdings in shares of Equinix by 1.9% in the fourth quarter. Rothschild Investment LLC now owns 576 shares of the financial services provider's stock valued at $543,000 after buying an additional 11 shares during the last quarter. Ritholtz Wealth Management increased its position in Equinix by 1.8% in the 4th quarter. Ritholtz Wealth Management now owns 671 shares of the financial services provider's stock valued at $633,000 after acquiring an additional 12 shares during the period. Great Lakes Retirement Inc. grew its stake in shares of Equinix by 1.2% in the 4th quarter. Great Lakes Retirement Inc. now owns 975 shares of the financial services provider's stock valued at $920,000 after purchasing an additional 12 shares during the last quarter. Finally, Lake Street Advisors Group LLC grew its position in Equinix by 1.6% in the 4th quarter. Lake Street Advisors Group LLC now owns 756 shares of the financial services provider's stock valued at $713,000 after buying an additional 12 shares during the last quarter. Institutional investors and hedge funds own 94.94% of the company's stock.

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Equinix Stock Down 3.5 %

EQIX stock traded down $26.55 during trading hours on Monday, hitting $739.67. The company's stock had a trading volume of 281,611 shares, compared to its average volume of 550,951. Equinix, Inc. has a 12 month low of $684.14 and a 12 month high of $994.03. The company has a market capitalization of $71.99 billion, a PE ratio of 86.62, a price-to-earnings-growth ratio of 1.78 and a beta of 0.95. The stock has a 50 day moving average price of $883.46 and a two-hundred day moving average price of $906.83. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.19.

Equinix (NASDAQ:EQIX - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share 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%. On average, equities research analysts expect that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th were given a $4.69 dividend. The ex-dividend date was Wednesday, February 26th. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.54%. This is an increase from Equinix's previous quarterly dividend of $4.26. Equinix's dividend payout ratio (DPR) is currently 219.42%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Cfra Research upgraded shares of Equinix from a "hold" rating to a "strong-buy" rating in a research report on Friday, March 28th. BMO Capital Markets decreased their price target on Equinix from $1,085.00 to $1,065.00 and set an "outperform" rating on the stock in a research note on Thursday, February 13th. Scotiabank increased their price objective on shares of 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. Mizuho lowered their price target on shares of Equinix from $1,094.00 to $1,053.00 and set an "outperform" rating for the company in a report on Friday, March 28th. Finally, JMP Securities restated a "market outperform" rating and set a $1,200.00 target price on shares of Equinix in a research report on Thursday, February 13th. Two equities research 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 data from MarketBeat, Equinix presently has an average rating of "Buy" and an average target price of $1,007.59.

Insider Transactions at Equinix

In other news, Director Christopher B. Paisley sold 125 shares of the stock in a transaction 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 owns 17,669 shares in the company, valued at approximately $16,117,838.49. This represents a 0.70 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Kurt Pletcher sold 215 shares of Equinix stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $929.73, for a total transaction of $199,891.95. Following the sale, the insider now 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 19,054 shares of company stock valued at $17,466,950. 0.27% of the stock is owned by corporate insiders.

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.