Brio Consultants LLC Makes New Investment in Equinix, Inc. (NASDAQ:EQIX)

Key Points

• Brio Consultants LLC has invested approximately $522,000 in Equinix, Inc. by purchasing 640 shares of the financial services provider in Q1.
• Equinix declared a quarterly dividend of $4.69 per share with a dividend yield of 2.36%, reflecting a high payout ratio of 195.01%.
• Equinix's recent quarterly earnings surpassed estimates, reporting $9.67 EPS and revenue of $2.23 billion, marking a 4.1% year-over-year increase.

Brio Consultants LLC purchased a new position in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 640 shares of the financial services provider's stock, valued at approximately $522,000.

A number of other institutional investors also recently bought and sold shares of EQIX. Truist Financial Corp lifted its holdings in shares of Equinix by 8.2% in the 1st quarter. Truist Financial Corp now owns 52,301 shares of the financial services provider's stock valued at $42,643,000 after purchasing an additional 3,981 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of Equinix by 71.7% in the 1st quarter. Nisa Investment Advisors LLC now owns 74,434 shares of the financial services provider's stock valued at $60,690,000 after purchasing an additional 31,073 shares during the last quarter. First United Bank & Trust purchased a new stake in shares of Equinix in the 1st quarter valued at about $451,000. Miller Howard Investments Inc. NY lifted its holdings in shares of Equinix by 20.1% in the 1st quarter. Miller Howard Investments Inc. NY now owns 3,864 shares of the financial services provider's stock valued at $3,150,000 after purchasing an additional 646 shares during the last quarter. Finally, Crossmark Global Holdings Inc. lifted its holdings in shares of Equinix by 113.2% in the 1st quarter. Crossmark Global Holdings Inc. now owns 17,954 shares of the financial services provider's stock valued at $14,639,000 after purchasing an additional 9,534 shares during the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Equinix

In other news, Director Christopher B. Paisley sold 100 shares of the business's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $869.41, for a total transaction of $86,941.00. Following the sale, the director owned 17,569 shares of the company's stock, valued at $15,274,664.29. The trade was a 0.57% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kurt Pletcher sold 127 shares of the business's stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $877.70, for a total value of $111,467.90. Following the sale, the insider directly owned 1,842 shares in the company, valued at $1,616,723.40. This trade represents a 6.45% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,176 shares of company stock valued at $2,808,008 in the last quarter. 0.27% of the stock is currently owned by corporate insiders.

Equinix Stock Performance

NASDAQ EQIX opened at $793.62 on Tuesday. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 1.20. The business's 50 day moving average is $837.20 and its two-hundred day moving average is $856.10. Equinix, Inc. has a 12-month low of $701.41 and a 12-month high of $994.03. The stock has a market capitalization of $77.63 billion, a price-to-earnings ratio of 82.50, a PEG ratio of 1.48 and a beta of 0.93.

Equinix (NASDAQ:EQIX - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The financial services provider reported $9.67 EPS for the quarter, topping the consensus estimate of $9.01 by $0.66. The business had revenue of $2.23 billion for the quarter, compared to analyst estimates of $2.23 billion. Equinix had a return on equity of 6.96% and a net margin of 10.48%. The company's quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $8.86 EPS. Research analysts expect that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, May 21st were paid a dividend of $4.69 per share. This represents a $18.76 annualized dividend and a dividend yield of 2.36%. The ex-dividend date of this dividend was Wednesday, May 21st. Equinix's dividend payout ratio (DPR) is 195.01%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Cowen reissued a "buy" rating on shares of Equinix in a report on Thursday, July 3rd. Citigroup boosted their target price on Equinix from $970.00 to $990.00 and gave the company a "buy" rating in a report on Monday, May 5th. JPMorgan Chase & Co. reduced their target price on Equinix from $975.00 to $935.00 and set an "overweight" rating for the company in a report on Thursday, June 26th. BMO Capital Markets downgraded Equinix from an "outperform" rating to a "market perform" rating and reduced their target price for the company from $1,045.00 to $850.00 in a report on Thursday, June 26th. Finally, Guggenheim began coverage on Equinix in a research report on Thursday, July 10th. They issued a "buy" rating and a $933.00 price target on the stock. Four investment analysts have rated the stock with a hold rating, twenty have given a buy rating and five have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $957.05.

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.

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