Cobblestone Capital Advisors LLC NY Acquires New Holdings in Equinix, Inc. (NASDAQ:EQIX)

Key Points

• Cobblestone Capital Advisors LLC acquired a new stake in Equinix, Inc. (NASDAQ:EQIX) during the first quarter, purchasing 386 shares valued at approximately $315,000.
• Equinix recently reported earnings of $9.91 per share for the last quarter, significantly exceeding analyst expectations of $3.49, with a year-over-year revenue increase of 4.5%.
• The company declared a quarterly dividend of $4.69 per share, representing an annualized yield of 2.4%, with a payout ratio of 183.74%.

Cobblestone Capital Advisors LLC NY acquired a new stake in Equinix, Inc. (NASDAQ:EQIX - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 386 shares of the financial services provider's stock, valued at approximately $315,000.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Equinix by 1.9% during the first quarter. Vanguard Group Inc. now owns 12,906,820 shares of the financial services provider's stock valued at $10,523,576,000 after acquiring an additional 242,121 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings 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 valued at $1,793,429,000 after acquiring an additional 14,294 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Equinix by 22.5% during the first quarter. JPMorgan Chase & Co. now owns 1,590,568 shares of the financial services provider's stock valued at $1,296,871,000 after acquiring an additional 291,753 shares during the period. Northern Trust Corp lifted its holdings in shares of Equinix by 65.3% during the fourth quarter. Northern Trust Corp now owns 1,483,781 shares of the financial services provider's stock valued at $1,399,042,000 after acquiring an additional 586,034 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Equinix by 6.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,147,559 shares of the financial services provider's stock valued at $1,082,022,000 after acquiring an additional 65,104 shares during the period. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Equinix Trading Up 1.4%

EQIX stock traded up $10.57 during midday trading on Tuesday, reaching $787.32. The stock had a trading volume of 337,865 shares, compared to its average volume of 517,187. The business has a fifty day simple moving average of $816.55 and a two-hundred day simple moving average of $846.16. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 1.29. The firm has a market cap of $77.05 billion, a price-to-earnings ratio of 77.11, a PEG ratio of 1.40 and a beta of 0.90. Equinix, Inc. has a twelve month low of $701.41 and a twelve month high of $994.03.

Equinix (NASDAQ:EQIX - Get Free Report) last posted its earnings results on Wednesday, July 30th. The financial services provider reported $9.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.49 by $6.42. The company had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.26 billion. Equinix had a return on equity of 7.22% and a net margin of 11.11%. The company's revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the previous year, the company earned $9.22 EPS. As a group, research analysts expect that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Dividend Announcement

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

Insider Activity

In other news, Director Christopher B. Paisley sold 100 shares of the business's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $869.41, for a total transaction of $86,941.00. Following the completion of the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Adaire Fox-Martin sold 2,949 shares of the business's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $884.91, for a total value of $2,609,599.59. Following the transaction, the chief executive officer owned 9,615 shares of the company's stock, valued at $8,508,409.65. The trade was a 23.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.27% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

EQIX has been the subject of a number of analyst reports. Wolfe Research cut Equinix from an "outperform" rating to a "peer perform" rating in a report on Monday, June 9th. BNP Paribas raised Equinix to a "strong-buy" rating in a report on Thursday, May 1st. Guggenheim assumed coverage on Equinix in a report on Thursday, July 10th. They set a "buy" rating and a $933.00 price objective for the company. Bank of America cut their price target on Equinix from $1,000.00 to $950.00 and set a "buy" rating for the company in a report on Thursday, June 26th. Finally, BMO Capital Markets cut Equinix from an "outperform" rating to a "market perform" rating and cut their price target for the company from $1,045.00 to $850.00 in a report on Thursday, June 26th. Five research analysts have rated the stock with a hold rating, twenty have issued a buy rating and five have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $959.86.

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.