Corebridge Financial Inc. Decreases Position in Equinix, Inc. $EQIX

Key Points

• Corebridge Financial Inc. reduced its investment in Equinix, Inc. by 3.1%, now holding 25,395 shares valued at approximately $20.7 million.
• Several large investors, including Brighton Jones LLC and Bank Pictet & Cie Europe AG, have been actively buying shares of Equinix, indicating strong institutional interest in the company.
• Equinix recently declared a quarterly dividend of $4.69 per share, reflecting an annualized yield of 2.4%, despite a high payout ratio of 183.74%.

Corebridge Financial Inc. cut its position in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 3.1% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 25,395 shares of the financial services provider's stock after selling 812 shares during the period. Corebridge Financial Inc.'s holdings in Equinix were worth $20,706,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Brighton Jones LLC raised its holdings in shares of Equinix by 28.9% during the fourth quarter. Brighton Jones LLC now owns 326 shares of the financial services provider's stock valued at $307,000 after purchasing an additional 73 shares during the last quarter. Bank Pictet & Cie Europe AG purchased a new position in shares of Equinix during the fourth quarter valued at approximately $2,027,000. MGO One Seven LLC raised its holdings in shares of Equinix by 20.3% during the fourth quarter. MGO One Seven LLC now owns 599 shares of the financial services provider's stock valued at $565,000 after purchasing an additional 101 shares during the last quarter. Integrated Wealth Concepts LLC raised its holdings in shares of Equinix by 8.1% during the fourth quarter. Integrated Wealth Concepts LLC now owns 468 shares of the financial services provider's stock valued at $441,000 after purchasing an additional 35 shares during the last quarter. Finally, Coldstream Capital Management Inc. raised its holdings in shares of Equinix by 2.2% during the fourth quarter. Coldstream Capital Management Inc. now owns 1,458 shares of the financial services provider's stock valued at $1,375,000 after purchasing an additional 32 shares during the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

EQIX has been the subject of several research reports. Stifel Nicolaus decreased their price objective on shares of Equinix from $1,050.00 to $1,010.00 and set a "buy" rating for the company in a report on Thursday, June 26th. Bank of America decreased their price objective on shares of Equinix from $1,000.00 to $950.00 and set a "buy" rating for the company in a report on Thursday, June 26th. Citigroup boosted their price objective on shares of Equinix from $970.00 to $990.00 and gave the company a "buy" rating in a report on Monday, May 5th. UBS Group decreased their price objective on shares of Equinix from $1,035.00 to $950.00 and set a "buy" rating for the company in a report on Friday, July 11th. Finally, Guggenheim began coverage on shares of Equinix in a research report on Thursday, July 10th. They set a "buy" rating and a $933.00 target price for the company. Five equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $962.52.

Insider Buying and Selling

In other Equinix news, Director Christopher B. Paisley sold 75 shares of the company's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $781.50, for a total value of $58,612.50. Following the completion of the transaction, the director directly owned 17,832 shares in the company, valued at $13,935,708. This represents a 0.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Adaire Fox-Martin sold 2,949 shares of the company's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $884.91, for a total transaction of $2,609,599.59. Following the completion of the transaction, the chief executive officer owned 9,615 shares of the company's stock, valued at approximately $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. Corporate insiders own 0.27% of the company's stock.

Equinix Stock Performance

Shares of NASDAQ EQIX opened at $782.38 on Tuesday. The firm has a 50 day moving average of $794.13 and a 200 day moving average of $836.71. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 1.29. The firm has a market capitalization of $76.56 billion, a price-to-earnings ratio of 76.63, a price-to-earnings-growth ratio of 1.42 and a beta of 0.90. Equinix, Inc. has a 12-month low of $701.41 and a 12-month high of $994.03.

Equinix (NASDAQ:EQIX - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $9.91 earnings per share for the quarter, topping analysts' consensus estimates of $3.49 by $6.42. The business had revenue of $2.26 billion during the quarter, compared to analyst estimates of $2.26 billion. Equinix had a net margin of 11.11% and a return on equity of 7.22%. The company's revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the business posted $9.22 earnings per share. Equinix has set its Q3 2025 guidance at EPS. FY 2025 guidance at 37.670-38.480 EPS. On average, research analysts anticipate that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Announces Dividend

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

About Equinix

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.

Want to see what other hedge funds are holding EQIX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Equinix, Inc. (NASDAQ:EQIX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.