Welch & Forbes LLC Purchases 1,135 Shares of Equinix, Inc. (NASDAQ:EQIX)

Welch & Forbes LLC grew its position in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 6.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,135 shares of the financial services provider's stock after buying an additional 1,135 shares during the quarter. Welch & Forbes LLC's holdings in Equinix were worth $15,602,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Altman Advisors Inc. grew its stake in shares of Equinix by 3.3% during the first quarter. Altman Advisors Inc. now owns 2,022 shares of the financial services provider's stock valued at $1,741,000 after purchasing an additional 64 shares during the last quarter. Cullen Frost Bankers Inc. grew its stake in shares of Equinix by 45.1% during the first quarter. Cullen Frost Bankers Inc. now owns 74 shares of the financial services provider's stock valued at $60,000 after purchasing an additional 23 shares during the last quarter. Parcion Private Wealth LLC grew its stake in shares of Equinix by 5.3% during the first quarter. Parcion Private Wealth LLC now owns 6,829 shares of the financial services provider's stock valued at $5,568,000 after purchasing an additional 343 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Equinix by 3.5% during the first quarter. Victory Capital Management Inc. now owns 44,629 shares of the financial services provider's stock valued at $36,388,000 after purchasing an additional 1,508 shares during the last quarter. Finally, Bridgewater Advisors Inc. bought a new stake in shares of Equinix during the first quarter valued at approximately $346,000. 94.94% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on the stock. New Street Research raised shares of Equinix to a "strong-buy" rating in a research note on Monday, April 28th. Wolfe Research lowered shares of Equinix from an "outperform" rating to a "peer perform" rating in a report on Monday, June 9th. TD Securities increased their price objective 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. Truist Financial cut their price objective 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. Finally, Stifel Nicolaus cut their price objective on shares of Equinix from $1,050.00 to $1,010.00 and set a "buy" rating on the stock in a report on Thursday, June 26th. Four equities research 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 company's stock. Based on data from MarketBeat.com, Equinix currently has an average rating of "Buy" and an average price target of $957.05.

Equinix Stock Down 0.2%

Shares of NASDAQ:EQIX traded down $1.86 during midday trading on Friday, reaching $773.71. 287,620 shares of the company were exchanged, compared to its average volume of 563,636. Equinix, Inc. has a fifty-two week low of $701.41 and a fifty-two week high of $994.03. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 1.20. The stock has a fifty day simple moving average of $847.91 and a two-hundred day simple moving average of $864.45. The firm has a market cap of $75.68 billion, a PE ratio of 80.39, a P/E/G ratio of 1.30 and a beta of 0.93.

Equinix (NASDAQ:EQIX - Get Free Report) last released its earnings results on Wednesday, April 30th. The financial services provider reported $9.67 earnings per share for the quarter, beating analysts' consensus estimates of $9.01 by $0.66. The business had revenue of $2.23 billion during 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 firm's revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter last year, the firm earned $8.86 earnings per share. As a group, 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 disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, May 21st were given a $4.69 dividend. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date of this dividend was Wednesday, May 21st. Equinix's dividend payout ratio (DPR) is presently 195.01%.

Insider Activity

In related news, CEO Adaire Fox-Martin sold 2,949 shares of Equinix stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $884.91, for a total transaction of $2,609,599.59. Following the completion of the sale, 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 position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Christopher B. Paisley sold 100 shares of Equinix 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 sale, the director directly 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 disclosure for this sale can be found here. Insiders sold a total of 3,176 shares of company stock valued at $2,808,008 in the last quarter. Company insiders own 0.27% of the company's stock.

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.