Rice Partnership LLC Has $1.07 Million Stock Holdings in Equinix, Inc. $EQIX

Key Points

• Rice Partnership LLC significantly reduced its holdings in Equinix, Inc. by 77.4%, selling 4,617 shares and leaving them with holdings valued at approximately $1.07 million.
• Analysts have varied price targets for Equinix, with the average consensus target set at $960.65, reflecting a general sentiment of Moderate Buy.
• Equinix recently announced a quarterly dividend of $4.69 per share, representing a 2.3% yield, despite a high dividend payout ratio of 183.74%.

Rice Partnership LLC cut its holdings in Equinix, Inc. (NASDAQ:EQIX - Free Report) by 77.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,348 shares of the financial services provider's stock after selling 4,617 shares during the quarter. Rice Partnership LLC's holdings in Equinix were worth $1,072,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Activest Wealth Management boosted its holdings in shares of Equinix by 121.4% during the 1st quarter. Activest Wealth Management now owns 31 shares of the financial services provider's stock worth $25,000 after buying an additional 17 shares during the period. Atticus Wealth Management LLC bought a new position in Equinix during the second quarter valued at about $29,000. GKV Capital Management Co. Inc. bought a new stake in Equinix in the 1st quarter valued at $30,000. Saudi Central Bank bought a new stake in Equinix in the 1st quarter valued at $31,000. Finally, Quarry LP bought a new stake in Equinix in the 1st quarter valued at $31,000. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on EQIX. Truist Financial upped their target price on shares of Equinix from $904.00 to $961.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. Barclays upped their price target on shares of Equinix from $798.00 to $804.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 20th. Guggenheim assumed coverage on shares of Equinix in a research note on Thursday, July 10th. They issued a "buy" rating and a $933.00 target price on the stock. BMO Capital Markets cut shares of Equinix from an "outperform" rating to a "market perform" rating and lowered their price target for the stock from $1,045.00 to $850.00 in a research report on Thursday, June 26th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Equinix from $935.00 to $940.00 and gave the company an "overweight" rating in a report on Thursday, July 31st. Four analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $960.65.

Insider Buying and Selling

In related news, EVP Raouf Abdel sold 404 shares of the stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $771.11, for a total transaction of $311,528.44. Following the completion of the sale, the executive vice president directly owned 6,378 shares of the company's stock, valued at approximately $4,918,139.58. This represents a 5.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Christopher B. Paisley sold 75 shares of the stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $781.50, for a total value of $58,612.50. Following the sale, the director directly owned 17,832 shares of the company's stock, valued at approximately $13,935,708. The trade was a 0.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.27% of the stock is currently owned by corporate insiders.

Equinix Trading Up 2.1%

Shares of NASDAQ EQIX opened at $803.62 on Thursday. The firm has a market capitalization of $78.65 billion, a P/E ratio of 78.71, a P/E/G ratio of 1.40 and a beta of 0.92. The company's 50 day simple moving average is $781.75 and its 200 day simple moving average is $813.38. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.54 and a quick ratio of 1.54. Equinix, Inc. has a fifty-two week low of $701.41 and a fifty-two week high of $994.03.

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

Equinix Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 17th. Investors of record on Wednesday, August 20th were paid a dividend of $4.69 per share. This represents a $18.76 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend was 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.

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