OVERSEA CHINESE BANKING Corp Ltd Has $18.62 Million Stock Holdings in Equinix, Inc. (NASDAQ:EQIX)

OVERSEA CHINESE BANKING Corp Ltd lowered its stake in Equinix, Inc. (NASDAQ:EQIX) by 0.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 19,747 shares of the financial services provider’s stock after selling 189 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Equinix were worth $18,619,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of EQIX. Kestra Investment Management LLC acquired a new position in shares of Equinix in the fourth quarter valued at approximately $31,000. J.Safra Asset Management Corp acquired a new position in Equinix in the 4th quarter valued at $39,000. Sierra Ocean LLC acquired a new position in Equinix in the 4th quarter valued at $42,000. Dunhill Financial LLC increased its position in Equinix by 108.7% during the 3rd quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider’s stock worth $43,000 after buying an additional 25 shares during the period. Finally, Thompson Investment Management Inc. bought a new stake in shares of Equinix in the fourth quarter valued at about $47,000. 94.94% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Equinix news, insider Brandi Galvin Morandi sold 684 shares of the company’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $940.51, for a total value of $643,308.84. Following the sale, 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Kurt Pletcher sold 341 shares of the firm’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $903.72, for a total value of $308,168.52. Following the transaction, the insider now owns 1,430 shares of the company’s stock, valued at $1,292,319.60. This trade represents a 19.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,054 shares of company stock valued at $17,466,950 in the last ninety days. 0.27% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on EQIX. BMO Capital Markets lowered their price target on shares of Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating on the stock in a research report on Thursday, February 13th. Wells Fargo & Company dropped their price target on shares of 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. JMP Securities reissued a “market outperform” rating and set a $1,200.00 price target on shares of Equinix in a research report on Thursday, February 13th. Truist Financial dropped their price objective on Equinix from $1,028.00 to $990.00 and set a “buy” rating for the company in a report on Monday, March 10th. Finally, Moffett Nathanson upgraded Equinix from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, February 5th. Three equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $989.35.

Equinix Stock Performance

NASDAQ EQIX opened at $841.26 on Wednesday. Equinix, Inc. has a fifty-two week low of $684.14 and a fifty-two week high of $994.03. The stock has a market cap of $81.88 billion, a PE ratio of 98.39, a PEG ratio of 1.78 and a beta of 0.74. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.63 and a current ratio of 1.63. The firm’s fifty day moving average price is $908.77 and its two-hundred day moving average price is $909.04.

Equinix (NASDAQ:EQIX) last issued its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share for the quarter, topping 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%. On average, equities analysts expect that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, February 26th will be given a dividend of $4.69 per share. The ex-dividend date is Wednesday, February 26th. This is an increase from Equinix’s previous quarterly dividend of $4.26. This represents a $18.76 annualized dividend and a yield of 2.23%. Equinix’s dividend payout ratio (DPR) is currently 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.