M&T Bank Corp Has $11.59 Million Stock Position in Equinix, Inc. (NASDAQ:EQIX)

M&T Bank Corp lessened its stake in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 5.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,212 shares of the financial services provider's stock after selling 826 shares during the quarter. M&T Bank Corp's holdings in Equinix were worth $11,587,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Equinix by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 12,664,699 shares of the financial services provider's stock worth $11,941,418,000 after acquiring an additional 88,654 shares during the period. Geode Capital Management LLC increased its position in Equinix by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 2,412,513 shares of the financial services provider's stock worth $2,269,037,000 after buying an additional 62,005 shares during the period. FMR LLC lifted its holdings in shares of Equinix by 3.7% during the fourth quarter. FMR LLC now owns 2,264,958 shares of the financial services provider's stock worth $2,135,606,000 after buying an additional 81,144 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Equinix by 0.8% in 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. Finally, Wellington Management Group LLP boosted its position in shares of Equinix by 28.7% in the fourth quarter. Wellington Management Group LLP now owns 1,804,227 shares of the financial services provider's stock valued at $1,701,188,000 after acquiring an additional 401,991 shares during the period. Institutional investors and hedge funds own 94.94% of the company's stock.

Equinix Trading Down 0.3%

NASDAQ:EQIX traded down $2.19 during mid-day trading on Friday, hitting $756.70. 587,378 shares of the company's stock were exchanged, compared to its average volume of 562,781. Equinix, Inc. has a fifty-two week low of $701.41 and a fifty-two week high of $994.03. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 1.20. The firm has a market capitalization of $74.02 billion, a P/E ratio of 78.66, a PEG ratio of 1.28 and a beta of 0.93. The company has a 50 day simple moving average of $856.50 and a 200-day simple moving average of $869.39.

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

Equinix Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Wednesday, May 21st were given a dividend of $4.69 per share. The ex-dividend date of this dividend was Wednesday, May 21st. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.48%. Equinix's dividend payout ratio (DPR) is 195.01%.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Wolfe Research downgraded shares of Equinix from an "outperform" rating to a "peer perform" rating in a report on Monday, June 9th. Truist Financial cut their price target on Equinix from $986.00 to $904.00 and set a "buy" rating for the company in a research note on Tuesday, July 1st. Bank of America lowered their price objective on Equinix from $1,000.00 to $950.00 and set a "buy" rating on the stock in a research note on Thursday, June 26th. The Goldman Sachs Group dropped their price objective on Equinix from $1,020.00 to $880.00 and set a "buy" rating for the company in a report on Wednesday, July 2nd. Finally, Cowen reiterated a "buy" rating on shares of Equinix in a research report on Thursday, July 3rd. Four research analysts have rated the stock with a hold rating, twenty have given a buy rating and five have issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Buy" and an average target price of $957.05.

Insider Transactions at Equinix

In other news, insider Kurt Pletcher sold 127 shares of the company's stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $877.70, for a total value of $111,467.90. Following the sale, the insider directly owned 1,842 shares of the company's stock, valued at approximately $1,616,723.40. This represents a 6.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Adaire Fox-Martin sold 2,949 shares of the stock in a transaction 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 sale, the chief executive officer owned 9,615 shares of the company's stock, valued at approximately $8,508,409.65. This trade represents a 23.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,176 shares of company stock worth $2,808,008 over the last ninety days. 0.27% of the stock is owned by insiders.

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.