Price T Rowe Associates Inc. MD Boosts Stock Holdings in Equinix, Inc. (NASDAQ:EQIX)

Price T Rowe Associates Inc. MD lifted its stake in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 0.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,902,053 shares of the financial services provider's stock after purchasing an additional 14,294 shares during the quarter. Price T Rowe Associates Inc. MD owned 1.97% of Equinix worth $1,793,429,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in EQIX. Norges Bank acquired a new stake in Equinix during the 4th quarter worth approximately $1,067,270,000. Wellington Management Group LLP raised 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 valued at $1,701,188,000 after acquiring an additional 401,991 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Equinix during the fourth quarter worth $328,899,000. Proficio Capital Partners LLC bought a new stake in shares of Equinix in the fourth quarter worth $246,000. Finally, JPMorgan Chase & Co. increased its holdings in Equinix by 17.9% in the third quarter. JPMorgan Chase & Co. now owns 1,338,597 shares of the financial services provider's stock valued at $1,188,180,000 after purchasing an additional 203,656 shares during the period. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Equinix Stock Up 2.6 %

NASDAQ EQIX traded up $20.91 during trading hours on Friday, hitting $838.10. The company's stock had a trading volume of 605,304 shares, compared to its average volume of 550,655. The company has a market capitalization of $81.98 billion, a PE ratio of 98.02, a price-to-earnings-growth ratio of 1.78 and a beta of 0.95. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.19. Equinix, Inc. has a 52 week low of $684.14 and a 52 week high of $994.03. The company's 50-day simple moving average is $835.22 and its two-hundred day simple moving average is $895.02.

Equinix (NASDAQ:EQIX - Get Free Report) last posted its 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 return on equity of 6.31% and a net margin of 9.32%. Research analysts anticipate that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th were paid a $4.69 dividend. This is a positive change from Equinix's previous quarterly dividend of $4.26. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $18.76 annualized dividend and a dividend yield of 2.24%. Equinix's dividend payout ratio is presently 219.42%.

Analyst Ratings Changes

EQIX has been the topic of several recent research reports. Truist Financial cut their target price on Equinix from $1,028.00 to $990.00 and set a "buy" rating on the stock in a report on Monday, March 10th. Cfra Research raised Equinix from a "hold" rating to a "strong-buy" rating in a research note on Friday, March 28th. BMO Capital Markets decreased their target price on shares of Equinix from $1,085.00 to $1,065.00 and set an "outperform" rating for the company in a research report on Thursday, February 13th. Scotiabank decreased their price objective on shares of Equinix from $1,040.00 to $1,030.00 and set a "sector outperform" rating for the company in a research report on Tuesday. Finally, Wells Fargo & Company dropped their target price on shares of Equinix from $1,075.00 to $1,065.00 and set an "overweight" rating on the stock in a report on Thursday, February 13th. Two equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and four have given a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $1,004.94.

Insider Activity

In related news, Director Christopher B. Paisley sold 125 shares of Equinix stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $912.21, for a total transaction of $114,026.25. Following the sale, the director now directly owns 17,669 shares in the company, valued at approximately $16,117,838.49. This trade represents a 0.70 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Keith D. Taylor sold 2,454 shares of the company's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $929.34, for a total value of $2,280,600.36. Following the completion of the transaction, the chief financial officer now owns 24,402 shares of the company's stock, valued at $22,677,754.68. This trade represents a 9.14 % 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 over the last quarter. 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.