SVB Wealth LLC Takes $3.68 Million Position in Equinix, Inc. (NASDAQ:EQIX)

SVB Wealth LLC bought a new stake in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 3,900 shares of the financial services provider's stock, valued at approximately $3,678,000.

Several other institutional investors and hedge funds have also modified their holdings of EQIX. State Street Corp raised its holdings in shares of Equinix by 1.4% during the third quarter. State Street Corp now owns 5,826,082 shares of the financial services provider's stock valued at $5,171,405,000 after acquiring an additional 81,941 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Equinix by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 2,350,508 shares of the financial services provider's stock worth $2,079,591,000 after purchasing an additional 33,277 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Equinix by 2.3% in the 4th quarter. Principal Financial Group Inc. now owns 1,938,572 shares of the financial services provider's stock valued at $1,827,847,000 after purchasing an additional 44,471 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Equinix by 17.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,338,597 shares of the financial services provider's stock worth $1,188,180,000 after acquiring an additional 203,656 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Equinix by 5.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,134,171 shares of the financial services provider's stock valued at $1,006,724,000 after purchasing an additional 53,729 shares during the period. Institutional investors and hedge funds own 94.94% of the company's stock.

Equinix Price Performance

EQIX stock traded up $10.98 during midday trading on Wednesday, hitting $921.02. 486,861 shares of the stock were exchanged, compared to its average volume of 542,896. The stock's 50-day moving average price is $926.24 and its 200-day moving average price is $906.92. The stock has a market cap of $89.64 billion, a price-to-earnings ratio of 107.72, a PEG ratio of 1.78 and a beta of 0.72. Equinix, Inc. has a fifty-two week low of $684.14 and a fifty-two week high of $994.03. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.63 and a current ratio of 1.63.

Equinix (NASDAQ:EQIX - Get Free Report) last issued its quarterly earnings data 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 net margin of 9.32% and a return on equity of 6.31%. Research analysts predict that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th will be issued a $4.69 dividend. The ex-dividend date of this dividend is Wednesday, February 26th. This is an increase from Equinix's previous quarterly dividend of $4.26. This represents a $18.76 annualized dividend and a yield of 2.04%. Equinix's payout ratio is 219.42%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Royal Bank of Canada boosted their price objective on Equinix from $936.00 to $1,025.00 and gave the stock an "outperform" rating in a research report on Wednesday, December 11th. Barclays upped their target price on Equinix from $810.00 to $822.00 and gave the company an "equal weight" rating in a research report on Monday, November 18th. Moffett Nathanson upgraded shares of Equinix from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, February 5th. Wells Fargo & Company decreased their target price on shares of 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. Finally, Stifel Nicolaus increased 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. Three analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $995.24.

Insider Activity at Equinix

In other news, insider Brandi Galvin Morandi sold 684 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $940.51, for a total transaction of $643,308.84. Following the transaction, the insider now owns 8,377 shares of the company's stock, valued at approximately $7,878,652.27. This trade represents a 7.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Raouf Abdel sold 1,331 shares of the firm's stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 6,579 shares in the company, valued at approximately $5,945,508.09. The trade was a 16.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,054 shares of company stock worth $17,466,950. 0.27% of the stock is currently owned by 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.