New Age Alpha Advisors LLC Decreases Stock Holdings in Equinix, Inc. (NASDAQ:EQIX)

Key Points

• New Age Alpha Advisors LLC reduced its stake in Equinix, Inc. by 18.2% during the first quarter, decreasing its holdings to 16,240 shares valued at approximately $13.24 million.
• Institutional investors own 94.94% of Equinix's stock, with several hedge funds recently increasing their positions in the company.
• Equinix announced a quarterly dividend of $4.69, representing an annualized yield of 2.4%, despite a high dividend payout ratio of 183.74%.

New Age Alpha Advisors LLC reduced its holdings in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 18.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,240 shares of the financial services provider's stock after selling 3,621 shares during the quarter. Equinix makes up 0.6% of New Age Alpha Advisors LLC's portfolio, making the stock its 20th biggest holding. New Age Alpha Advisors LLC's holdings in Equinix were worth $13,241,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. FMR LLC lifted its stake in shares of Equinix by 3.7% in the fourth quarter. FMR LLC now owns 2,264,958 shares of the financial services provider's stock worth $2,135,606,000 after acquiring an additional 81,144 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Equinix by 0.8% during 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 buying an additional 14,294 shares during the last quarter. Northern Trust Corp lifted its holdings in Equinix by 65.3% during 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 buying an additional 586,034 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Equinix by 6.0% during 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 buying an additional 65,104 shares during the last quarter. Finally, Capital Research Global Investors lifted its holdings in Equinix by 2.6% during the 4th quarter. Capital Research Global Investors now owns 1,098,700 shares of the financial services provider's stock worth $1,035,953,000 after buying an additional 28,297 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Equinix

In other Equinix news, CEO Adaire Fox-Martin sold 2,949 shares of the business'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 completion of the sale, the chief executive officer directly 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Christopher B. Paisley sold 100 shares of the business's stock in a transaction dated Friday, May 16th. The shares were sold at an average price of $869.41, for a total transaction of $86,941.00. Following the completion of the transaction, the director owned 17,569 shares in the company, 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 own 0.27% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on EQIX shares. BMO Capital Markets downgraded Equinix from an "outperform" rating to a "market perform" rating and reduced their target price for the stock from $1,045.00 to $850.00 in a report on Thursday, June 26th. Wolfe Research cut Equinix from an "outperform" rating to a "peer perform" rating in a research note on Monday, June 9th. Scotiabank cut their target price on Equinix from $1,030.00 to $965.00 and set a "sector outperform" rating on the stock in a research note on Thursday, June 26th. Truist Financial cut their target price on Equinix from $986.00 to $904.00 and set a "buy" rating on the stock in a research note on Tuesday, July 1st. Finally, Cfra Research cut Equinix from a "moderate buy" rating to a "hold" rating in a research report on Thursday, July 31st. Five 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. According to data from MarketBeat, Equinix presently has a consensus rating of "Buy" and an average price target of $957.27.

Equinix Price Performance

EQIX traded down $5.94 during trading on Wednesday, reaching $773.00. The stock had a trading volume of 316,302 shares, compared to its average volume of 571,950. The stock has a market cap of $75.65 billion, a PE ratio of 75.71, a PEG ratio of 1.26 and a beta of 0.90. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.54 and a current ratio of 1.54. Equinix, Inc. has a one year low of $701.41 and a one year high of $994.03. The business has a 50-day moving average of $827.54 and a 200-day moving average of $851.47.

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

Equinix Dividend Announcement

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