CapWealth Advisors LLC Raises Stock Position in Equinix, Inc. (NASDAQ:EQIX)

CapWealth Advisors LLC boosted its holdings in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 4.1% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 24,149 shares of the financial services provider's stock after purchasing an additional 950 shares during the quarter. Equinix comprises 2.1% of CapWealth Advisors LLC's portfolio, making the stock its 19th largest position. CapWealth Advisors LLC's holdings in Equinix were worth $19,690,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Truist Financial Corp increased its stake in shares of Equinix by 8.2% during the first 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 in the last quarter. First United Bank & Trust bought a new position in shares of Equinix during the first quarter valued at approximately $451,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Equinix by 20.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 99,489 shares of the financial services provider's stock valued at $93,807,000 after purchasing an additional 17,084 shares in the last quarter. Miller Howard Investments Inc. NY grew its holdings in shares of Equinix by 20.1% during the first quarter. Miller Howard Investments Inc. NY now owns 3,864 shares of the financial services provider's stock valued at $3,150,000 after buying an additional 646 shares during the last quarter. Finally, Chevy Chase Trust Holdings LLC grew its holdings in shares of Equinix by 0.8% during the first quarter. Chevy Chase Trust Holdings LLC now owns 51,045 shares of the financial services provider's stock valued at $41,620,000 after buying an additional 413 shares during the last quarter. Institutional investors own 94.94% of the company's stock.

Insider Buying and Selling at Equinix

In other Equinix news, Director Christopher B. Paisley sold 100 shares of Equinix stock in a transaction on Friday, May 16th. The shares were sold at an average price of $869.41, for a total value of $86,941.00. Following the sale, the director directly owned 17,569 shares in the company, valued at approximately $15,274,664.29. The trade was a 0.57% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 completion of the sale, the insider owned 1,842 shares in the company, valued at approximately $1,616,723.40. This represents a 6.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 3,176 shares of company stock worth $2,808,008. Insiders own 0.27% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on EQIX shares. TD Securities increased their price target on shares of Equinix from $978.00 to $1,018.00 and gave the company a "buy" rating in a report on Thursday, May 1st. Guggenheim started coverage on shares of Equinix in a report on Thursday. They set a "buy" rating and a $933.00 price target on the stock. Bank of America cut their price target on shares of Equinix from $1,000.00 to $950.00 and set a "buy" rating on the stock in a report on Thursday, June 26th. Wells Fargo & Company cut their price target on shares of Equinix from $1,065.00 to $925.00 and set an "overweight" rating on the stock in a report on Thursday, June 26th. Finally, Truist Financial cut their price target on shares of Equinix from $986.00 to $904.00 and set a "buy" rating on the stock in a report on Tuesday, July 1st. Four investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and five have assigned a strong buy rating to the stock. According to MarketBeat, Equinix has an average rating of "Buy" and a consensus price target of $957.05.

Equinix Price Performance

Shares of EQIX stock traded down $2.19 on Friday, hitting $756.70. 587,378 shares of the stock traded hands, compared to its average volume of 562,778. The firm has a market cap of $74.02 billion, a price-to-earnings ratio of 78.66, a PEG ratio of 1.28 and a beta of 0.93. Equinix, Inc. has a 52 week low of $701.41 and a 52 week high of $994.03. The firm has a 50 day simple moving average of $856.50 and a two-hundred day simple moving average of $869.39. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.65 and a quick ratio of 1.65.

Equinix (NASDAQ:EQIX - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The financial services provider reported $9.67 EPS for the quarter, beating the consensus estimate of $9.01 by $0.66. The firm had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $2.23 billion. Equinix had a net margin of 10.48% and a return on equity of 6.96%. The company's revenue was up 4.1% on a year-over-year basis. During the same period last year, the firm earned $8.86 EPS. As a group, equities research analysts predict that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Wednesday, May 21st were issued a $4.69 dividend. The ex-dividend date was Wednesday, May 21st. This represents a $18.76 dividend on an annualized basis and a yield of 2.48%. Equinix's dividend payout ratio is currently 195.01%.

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.