Kingsview Wealth Management LLC Invests $362,000 in Equinix, Inc. (NASDAQ:EQIX)

Kingsview Wealth Management LLC bought a new stake in Equinix, Inc. (NASDAQ:EQIX - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 384 shares of the financial services provider's stock, valued at approximately $362,000.

A number of other institutional investors also recently modified their holdings of the business. GHP Investment Advisors Inc. raised its stake in Equinix by 50.0% in the third quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider's stock valued at $35,000 after purchasing an additional 13 shares in the last quarter. Fortitude Family Office LLC raised its stake 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 purchasing an additional 13 shares in the last quarter. Dunhill Financial LLC raised its stake in Equinix by 108.7% in the third quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider's stock valued at $43,000 after purchasing an additional 25 shares in the last quarter. Friedenthal Financial acquired a new position in Equinix in the fourth quarter valued at about $58,000. Finally, Thurston Springer Miller Herd & Titak Inc. raised its stake in Equinix by 31.3% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 63 shares of the financial services provider's stock valued at $59,000 after purchasing an additional 15 shares in the last quarter. Institutional investors own 94.94% of the company's stock.

Equinix Trading Up 1.1 %

EQIX stock traded up $10.60 during trading on Monday, hitting $933.60. The company had a trading volume of 523,352 shares, compared to its average volume of 497,929. The business has a 50-day moving average of $934.88 and a 200-day moving average of $897.69. Equinix, Inc. has a one year low of $684.14 and a one year high of $994.03. The stock has a market cap of $90.08 billion, a PE ratio of 84.18, a PEG ratio of 2.23 and a beta of 0.72. 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 (NASDAQ:EQIX - Get Free Report) last announced its earnings results on Wednesday, February 12th. The financial services provider reported $7.92 EPS for the quarter, beating the consensus estimate of $2.75 by $5.17. Equinix had a return on equity of 8.34% and a net margin of 12.29%. Research analysts predict that Equinix, Inc. will post 31.09 earnings per share for the current fiscal year.

Equinix Increases Dividend

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

Insider Activity at Equinix

In other Equinix news, EVP Raouf Abdel sold 1,331 shares of the stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $903.71, for a total transaction of $1,202,838.01. Following the transaction, the executive vice president now directly owns 6,579 shares in the company, valued at approximately $5,945,508.09. This represents a 16.83 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Adaire Fox-Martin sold 2,965 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $961.62, for a total value of $2,851,203.30. Following the transaction, the chief executive officer now owns 3,069 shares in the company, valued at $2,951,211.78. The trade was a 49.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 16,701 shares of company stock worth $15,441,464 over the last ninety days. Insiders own 0.27% of the company's stock.

Wall Street Analyst Weigh In

EQIX has been the subject of several research analyst reports. Moffett Nathanson raised Equinix from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, February 5th. Royal Bank of Canada boosted their target price on Equinix from $936.00 to $1,025.00 and gave the stock an "outperform" rating in a research note on Wednesday, December 11th. JMP Securities reissued a "market outperform" rating and set a $1,200.00 target price on shares of Equinix in a research note on Thursday. TD Cowen boosted their target price on Equinix from $865.00 to $984.00 and gave the stock a "buy" rating in a research note on Thursday, October 31st. Finally, Barclays boosted their target price on Equinix from $810.00 to $822.00 and gave the stock an "equal weight" rating in a research note on Monday, November 18th. Three investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $994.82.

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.