E Fund Management Co. Ltd. Has $579,000 Stake in Equinix, Inc. (NASDAQ:EQIX)

Key Points

• E Fund Management Co. Ltd. has increased its holdings in Equinix, Inc. by 203.4% in Q1, owning 710 shares worth approximately $579,000.
• Equinix announced a quarterly dividend of $4.69 per share, with a dividend yield of 2.4%, reflecting a high dividend payout ratio of 183.74%.
• Equinix has received multiple ratings updates from analysts, with a consensus rating of “Buy” and a target price of $962.24.

E Fund Management Co. Ltd. raised its position in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 203.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 710 shares of the financial services provider's stock after purchasing an additional 476 shares during the period. E Fund Management Co. Ltd.'s holdings in Equinix were worth $579,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Equinix by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 12,906,820 shares of the financial services provider's stock valued at $10,523,576,000 after purchasing an additional 242,121 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Equinix by 0.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,902,053 shares of the financial services provider's stock worth $1,793,429,000 after acquiring an additional 14,294 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Equinix by 22.5% in the 1st quarter. JPMorgan Chase & Co. now owns 1,590,568 shares of the financial services provider's stock worth $1,296,871,000 after acquiring an additional 291,753 shares during the period. Northern Trust Corp lifted its stake in shares of 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 period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Equinix by 6.0% in the 4th 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 worth $1,082,022,000 after acquiring an additional 65,104 shares during the period. 94.94% of the stock is owned by institutional investors and hedge funds.

Equinix Stock Up 0.8%

Shares of EQIX traded up $5.94 during mid-day trading on Friday, hitting $781.31. 545,026 shares of the company's stock were exchanged, compared to its average volume of 507,262. The firm has a fifty day moving average of $808.63 and a two-hundred day moving average of $844.01. Equinix, Inc. has a twelve month low of $701.41 and a twelve month high of $994.03. The stock has a market cap of $76.46 billion, a price-to-earnings ratio of 76.52, a P/E/G ratio of 1.40 and a beta of 0.90. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 1.29.

Equinix (NASDAQ:EQIX - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $9.91 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $2.26 billion. During the same quarter in the prior year, the business posted $9.22 EPS. Equinix's quarterly revenue was up 4.5% on a year-over-year basis. On average, sell-side analysts forecast 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 $4.69 dividend. The ex-dividend date is Wednesday, August 20th. This represents a $18.76 dividend on an annualized basis and a yield of 2.4%. Equinix's dividend payout ratio (DPR) is presently 183.74%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. JMP Securities reaffirmed a "market outperform" rating and issued a $1,200.00 price target on shares of Equinix in a research note on Tuesday, July 22nd. Truist Financial upped their price target on shares of Equinix from $904.00 to $961.00 and gave the stock a "buy" rating in a research note on Thursday, August 7th. Wells Fargo & Company reduced their price target on shares of Equinix from $1,065.00 to $925.00 and set an "overweight" rating for the company in a research note on Thursday, June 26th. Wall Street Zen lowered shares of Equinix from a "hold" rating to a "sell" rating in a research note on Saturday. Finally, UBS Group dropped their target price on shares of Equinix from $1,035.00 to $950.00 and set a "buy" rating on the stock in a report on Friday, July 11th. One analyst has rated the stock with a sell rating, five have issued a hold rating, nineteen have assigned a buy rating and five have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $962.24.

Insider Transactions at Equinix

In related news, CEO Adaire Fox-Martin sold 2,949 shares of the firm's stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $884.91, for a total value of $2,609,599.59. Following the transaction, the chief executive officer directly 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 transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.27% of the company's stock.

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.