Blair William & Co. IL Sells 1,149 Shares of Equinix, Inc. (NASDAQ:EQIX)

Key Points

• Blair William & Co. IL reduced its holdings in Equinix, Inc. by 4.6%, selling 1,149 shares and currently owning 23,566 shares valued at approximately $19.2 million.
• GAMMA Investing LLC significantly increased its Equinix holdings by 82,340.9%, now owning 890,362 shares worth about $726 million, while other large investors also raised their positions.
• Equinix announced a quarterly dividend of $4.69 per share to be paid on September 17th, reflecting an annualized yield of 2.4% despite a high payout ratio of 183.74%.

Blair William & Co. IL trimmed its holdings in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 4.6% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 23,566 shares of the financial services provider's stock after selling 1,149 shares during the period. Blair William & Co. IL's holdings in Equinix were worth $19,214,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. GAMMA Investing LLC raised its holdings in Equinix by 82,340.9% in the 1st quarter. GAMMA Investing LLC now owns 890,362 shares of the financial services provider's stock worth $725,957,000 after acquiring an additional 889,282 shares during the last quarter. Northern Trust Corp raised its holdings in Equinix by 65.3% in the 4th quarter. Northern Trust Corp now owns 1,483,781 shares of the financial services provider's stock worth $1,399,042,000 after acquiring an additional 586,034 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Equinix in the 4th quarter worth approximately $205,641,000. Janus Henderson Group PLC raised its holdings in Equinix by 45.0% in the 4th quarter. Janus Henderson Group PLC now owns 535,847 shares of the financial services provider's stock worth $505,280,000 after acquiring an additional 166,206 shares during the last quarter. Finally, FMR LLC raised its holdings in Equinix by 3.7% in the 4th quarter. FMR LLC now owns 2,264,958 shares of the financial services provider's stock worth $2,135,606,000 after acquiring an additional 81,144 shares during the last quarter. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Equinix

In related news, insider Kurt Pletcher sold 127 shares of Equinix stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $877.70, for a total transaction of $111,467.90. Following the transaction, the insider owned 1,842 shares in the company, valued at approximately $1,616,723.40. The trade was a 6.45% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Adaire Fox-Martin sold 2,949 shares of Equinix stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $884.91, for a total transaction of $2,609,599.59. Following the transaction, the chief executive officer owned 9,615 shares in the company, valued at approximately $8,508,409.65. This trade represents a 23.47% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,176 shares of company stock worth $2,808,008. 0.27% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on EQIX. JPMorgan Chase & Co. boosted their price objective on shares of Equinix from $935.00 to $940.00 and gave the stock an "overweight" rating in a report on Thursday, July 31st. Wells Fargo & Company cut their target price on shares of Equinix from $1,065.00 to $925.00 and set an "overweight" rating for the company in a research report on Thursday, June 26th. Scotiabank cut their target price on shares of Equinix from $1,030.00 to $965.00 and set a "sector outperform" rating for the company in a research report on Thursday, June 26th. Truist Financial cut their target price on shares of Equinix from $986.00 to $904.00 and set a "buy" rating for the company in a research report on Tuesday, July 1st. Finally, Cfra Research downgraded shares of Equinix from a "moderate buy" rating to a "hold" rating in a research report on Thursday, July 31st. Five equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and five have given a strong buy rating to the company's stock. Based on data from MarketBeat, Equinix has an average rating of "Buy" and a consensus target price of $957.27.

Equinix Price Performance

Shares of EQIX traded up $0.55 during trading hours on Tuesday, reaching $778.94. 412,909 shares of the stock traded hands, compared to its average volume of 582,532. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 1.29. Equinix, Inc. has a 52-week low of $701.41 and a 52-week high of $994.03. The company's 50-day moving average price is $829.50 and its two-hundred day moving average price is $851.97. The company has a market cap of $76.23 billion, a P/E ratio of 76.29, a price-to-earnings-growth ratio of 1.25 and a beta of 0.90.

Equinix (NASDAQ:EQIX - Get Free Report) last released its earnings results on Wednesday, July 30th. The financial services provider reported $9.91 earnings per share for the quarter, beating analysts' consensus estimates of $3.49 by $6.42. Equinix had a net margin of 11.11% and a return on equity of 7.22%. The company had revenue of $2.26 billion for the quarter, compared to analysts' expectations of $2.26 billion. During the same quarter in the previous year, the company earned $9.22 EPS. Equinix's revenue for the quarter was up 4.5% on a year-over-year basis. On average, analysts anticipate that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 17th. Investors of record on Wednesday, August 20th will be paid a dividend of $4.69 per share. The ex-dividend date is Wednesday, August 20th. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.4%. Equinix's payout ratio is 183.74%.

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.