Advisors Asset Management Inc. Has $5.36 Million Position in Equinix, Inc. (NASDAQ:EQIX)

Advisors Asset Management Inc. raised its stake in Equinix, Inc. (NASDAQ:EQIX) by 21.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,682 shares of the financial services provider’s stock after acquiring an additional 991 shares during the quarter. Advisors Asset Management Inc.’s holdings in Equinix were worth $5,358,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Kestra Investment Management LLC bought a new position in Equinix during the 4th quarter worth $31,000. J.Safra Asset Management Corp acquired a new position in shares of Equinix during the fourth quarter worth $39,000. Sierra Ocean LLC acquired a new position in Equinix in the 4th quarter worth about $42,000. Dunhill Financial LLC raised its holdings in Equinix by 108.7% in the 3rd quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider’s stock valued at $43,000 after buying an additional 25 shares during the last quarter. Finally, Thompson Investment Management Inc. bought a new position in shares of Equinix during the fourth quarter valued at $47,000. Institutional investors own 94.94% of the company’s stock.

Analysts Set New Price Targets

EQIX has been the subject of a number of analyst reports. Wells Fargo & Company lowered their price objective on Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating for the company in a research report on Thursday, February 13th. Citizens Jmp upgraded shares of Equinix to a “strong-buy” rating in a report on Monday, January 27th. Truist Financial cut their target price on Equinix from $1,028.00 to $990.00 and set a “buy” rating on the stock in a report on Monday, March 10th. JMP Securities reaffirmed a “market outperform” rating and set a $1,200.00 target price on shares of Equinix in a research report on Thursday, February 13th. Finally, Oppenheimer lifted their price target on Equinix from $950.00 to $975.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. Three equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, Equinix currently has a consensus rating of “Buy” and a consensus target price of $989.35.

Insider Buying and Selling at Equinix

In other Equinix news, insider Brandi Galvin Morandi sold 684 shares of the business’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $940.51, for a total value of $643,308.84. Following the transaction, the insider now owns 8,377 shares in the company, valued at approximately $7,878,652.27. The trade was a 7.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kurt Pletcher sold 341 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $903.72, for a total value of $308,168.52. Following the transaction, the insider now directly owns 1,430 shares of the company’s stock, valued at $1,292,319.60. The trade was a 19.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,054 shares of company stock worth $17,466,950 over the last ninety days. Insiders own 0.27% of the company’s stock.

Equinix Price Performance

Shares of NASDAQ:EQIX opened at $855.33 on Thursday. The company has a 50 day moving average of $906.85 and a 200 day moving average of $908.67. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.19. Equinix, Inc. has a 12 month low of $684.14 and a 12 month high of $994.03. The stock has a market cap of $83.25 billion, a P/E ratio of 100.04, a P/E/G ratio of 1.78 and a beta of 0.74.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.75 by $5.17. Equinix had a return on equity of 6.31% and a net margin of 9.32%. As a group, sell-side analysts forecast that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th were issued a $4.69 dividend. This is a boost from Equinix’s previous quarterly dividend of $4.26. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date was Wednesday, February 26th. Equinix’s dividend payout ratio is presently 219.42%.

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.