Burling Wealth Partners LLC Takes Position in Equinix, Inc. (NASDAQ:EQIX)

Burling Wealth Partners LLC acquired a new position in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 1,829 shares of the financial services provider's stock, valued at approximately $1,725,000.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Equinix by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 12,664,699 shares of the financial services provider's stock worth $11,941,418,000 after acquiring an additional 88,654 shares during the last quarter. Geode Capital Management LLC grew its position in Equinix by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 2,412,513 shares of the financial services provider's stock worth $2,269,037,000 after purchasing an additional 62,005 shares during the last quarter. FMR LLC increased its stake in Equinix by 3.7% in the fourth quarter. FMR LLC now owns 2,264,958 shares of the financial services provider's stock valued at $2,135,606,000 after purchasing an additional 81,144 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Equinix by 2.3% in the fourth 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 buying an additional 44,471 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Equinix by 0.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,902,053 shares of the financial services provider's stock worth $1,793,429,000 after buying an additional 14,294 shares during the period. Hedge funds and other institutional investors own 94.94% of the company's stock.

Equinix Stock Up 1.3 %

NASDAQ EQIX traded up $10.86 during trading hours on Tuesday, hitting $855.54. The company had a trading volume of 160,788 shares, compared to its average volume of 548,110. Equinix, Inc. has a fifty-two week low of $684.14 and a fifty-two week high of $994.03. The firm's 50 day moving average is $833.33 and its 200 day moving average is $895.13. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.63 and a quick ratio of 1.63. The company has a market capitalization of $83.69 billion, a price-to-earnings ratio of 99.84, a P/E/G ratio of 1.78 and a beta of 0.95.

Equinix (NASDAQ:EQIX - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share (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%. Sell-side analysts anticipate that Equinix, Inc. will post 33.1 earnings per share for the current fiscal 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. This is a boost from Equinix's previous quarterly dividend of $4.26. This represents a $18.76 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date of this dividend was Wednesday, February 26th. Equinix's dividend payout ratio is presently 219.42%.

Insider Activity

In related news, Director Christopher B. Paisley sold 125 shares of the business's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $912.21, for a total value of $114,026.25. Following the completion of the sale, the director now directly owns 17,669 shares of the company's stock, valued at $16,117,838.49. The trade was a 0.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Kurt Pletcher sold 215 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $929.73, for a total value of $199,891.95. Following the transaction, the insider now directly owns 1,245 shares in the company, valued at approximately $1,157,513.85. This represents a 14.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 7,040 shares of company stock worth $6,547,068 over the last ninety days. Corporate insiders own 0.27% of the company's stock.

Analysts Set New Price Targets

EQIX has been the subject of several analyst reports. Wolfe Research upgraded Equinix from a "peer perform" rating to an "outperform" rating and set a $978.00 price target for the company in a research note on Thursday, March 27th. New Street Research upgraded shares of Equinix to a "strong-buy" rating in a research note on Monday. Truist Financial lowered their target price on shares of Equinix from $1,028.00 to $990.00 and set a "buy" rating on the stock in a report on Monday, March 10th. Barclays raised their price objective on shares of Equinix from $822.00 to $834.00 and gave the company an "equal weight" rating in a research report on Thursday, March 20th. Finally, Oppenheimer lifted their price objective on Equinix from $950.00 to $975.00 and gave the company an "outperform" rating in a report on Thursday, February 13th. Two analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and five have assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Buy" and an average target price of $1,004.94.

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.