OVERSEA CHINESE BANKING Corp Ltd Has $16.54 Million Position in Equinix, Inc. (NASDAQ:EQIX)

OVERSEA CHINESE BANKING Corp Ltd lifted its holdings in shares of Equinix, Inc. (NASDAQ:EQIX - Free Report) by 13.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,538 shares of the financial services provider's stock after buying an additional 2,463 shares during the period. OVERSEA CHINESE BANKING Corp Ltd's holdings in Equinix were worth $16,541,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Vanguard Group Inc. raised its stake in shares of Equinix by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 12,231,182 shares of the financial services provider's stock worth $8,883,018,000 after buying an additional 34,926 shares in the last quarter. Geode Capital Management LLC increased its stake in Equinix by 1.2% in the 1st quarter. Geode Capital Management LLC now owns 2,004,008 shares of the financial services provider's stock valued at $1,441,837,000 after purchasing an additional 23,150 shares in the last quarter. Principal Financial Group Inc. increased its stake in Equinix by 44.6% in the 3rd quarter. Principal Financial Group Inc. now owns 1,398,418 shares of the financial services provider's stock valued at $1,015,610,000 after purchasing an additional 431,435 shares in the last quarter. Northern Trust Corp increased its stake in Equinix by 1.7% in the 3rd quarter. Northern Trust Corp now owns 1,187,990 shares of the financial services provider's stock valued at $862,790,000 after purchasing an additional 20,241 shares in the last quarter. Finally, Norges Bank purchased a new position in Equinix in the 4th quarter valued at approximately $725,557,000. 94.94% of the stock is owned by hedge funds and other institutional investors.

Equinix Trading Up 1.1 %

Equinix stock traded up $8.15 during midday trading on Friday, reaching $748.00. The stock had a trading volume of 611,912 shares, compared to its average volume of 639,252. Equinix, Inc. has a twelve month low of $672.88 and a twelve month high of $914.93. The stock has a market capitalization of $70.78 billion, a PE ratio of 72.55, a price-to-earnings-growth ratio of 1.92 and a beta of 0.58. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.13 and a current ratio of 1.13. The stock's 50-day simple moving average is $833.57 and its 200 day simple moving average is $802.27.

Equinix Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Shareholders of record on Wednesday, February 28th were given a $4.26 dividend. This represents a $17.04 annualized dividend and a yield of 2.28%. The ex-dividend date of this dividend was Tuesday, February 27th. Equinix's dividend payout ratio (DPR) is presently 165.28%.

Analyst Ratings Changes

Several research firms recently weighed in on EQIX. BMO Capital Markets raised their price objective on Equinix from $910.00 to $925.00 and gave the company an "outperform" rating in a research note on Thursday, February 15th. Morgan Stanley dropped their price objective on Equinix from $767.00 to $762.00 and set an "equal weight" rating for the company in a research note on Thursday, March 28th. Truist Financial raised their price objective on Equinix from $915.00 to $950.00 and gave the company a "buy" rating in a research note on Monday, March 18th. Barclays dropped their price objective on Equinix from $818.00 to $669.00 and set an "equal weight" rating for the company in a research note on Wednesday. Finally, HSBC cut Equinix from a "buy" rating to a "hold" rating and set a $900.00 target price on the stock. in a report on Wednesday, March 20th. Seven research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $862.50.

Insider Buying and Selling at Equinix

In other news, insider Brandi Galvin Morandi sold 729 shares of Equinix stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $832.84, for a total transaction of $607,140.36. Following the sale, the insider now directly owns 14,002 shares of the company's stock, valued at $11,661,425.68. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Equinix news, Chairman Camp Peter Van sold 122 shares of Equinix stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $831.12, for a total value of $101,396.64. Following the completion of the transaction, the chairman now directly owns 7,968 shares in the company, valued at $6,622,364.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Brandi Galvin Morandi sold 729 shares of Equinix stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $832.84, for a total value of $607,140.36. Following the completion of the transaction, the insider now owns 14,002 shares of the company's stock, valued at $11,661,425.68. The disclosure for this sale can be found here. Insiders have sold 4,585 shares of company stock valued at $3,818,268 over the last three months. 0.32% of the stock is owned by company 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.