Independent Advisor Alliance Buys 194 Shares of Equinix, Inc. (NASDAQ:EQIX)

Independent Advisor Alliance increased its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 45.8% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 618 shares of the financial services provider’s stock after buying an additional 194 shares during the period. Independent Advisor Alliance’s holdings in Equinix were worth $583,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of EQIX. Johnson Investment Counsel Inc. grew its holdings in Equinix by 45.2% in the fourth quarter. Johnson Investment Counsel Inc. now owns 2,828 shares of the financial services provider’s stock worth $2,667,000 after purchasing an additional 881 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Equinix by 20.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 99,489 shares of the financial services provider’s stock valued at $93,807,000 after purchasing an additional 17,084 shares in the last quarter. OFI Invest Asset Management bought a new stake in Equinix in the fourth quarter valued at $5,332,000. Dorsey & Whitney Trust CO LLC increased its stake in Equinix by 3.8% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 871 shares of the financial services provider’s stock valued at $821,000 after purchasing an additional 32 shares in the last quarter. Finally, Generali Investments CEE investicni spolecnost a.s. bought a new stake in Equinix in the fourth quarter valued at $2,470,000. Institutional investors own 94.94% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on EQIX shares. JMP Securities reaffirmed a “market outperform” rating and issued a $1,200.00 price target on shares of Equinix in a research note on Thursday, February 13th. Scotiabank boosted their price target on shares of Equinix from $1,033.00 to $1,040.00 and gave the company a “sector outperform” rating in a research note on Monday, March 3rd. Moffett Nathanson upgraded shares of Equinix from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 5th. Wells Fargo & Company decreased 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 note on Thursday, February 13th. Finally, Stifel Nicolaus boosted their price target on shares of Equinix from $995.00 to $1,080.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Three research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $989.35.

Insiders Place Their Bets

In other news, EVP Raouf Abdel sold 1,331 shares of the company’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $903.71, for a total transaction of $1,202,838.01. Following the sale, the executive vice president now directly owns 6,579 shares in the company, valued at $5,945,508.09. This represents a 16.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Kurt Pletcher sold 341 shares of the company’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $903.72, for a total value of $308,168.52. Following the sale, the insider now owns 1,430 shares in the company, valued at approximately $1,292,319.60. This represents a 19.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,054 shares of company stock worth $17,466,950 over the last quarter. 0.27% of the stock is currently owned by company insiders.

Equinix Stock Up 0.4 %

Equinix stock opened at $837.68 on Monday. Equinix, Inc. has a twelve month low of $684.14 and a twelve month high of $994.03. The firm has a 50 day moving average price of $912.40 and a 200-day moving average price of $908.72. The company has a market capitalization of $81.53 billion, a P/E ratio of 97.97, a P/E/G ratio of 1.78 and a beta of 0.74. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.19.

Equinix (NASDAQ:EQIX) last issued its earnings results 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 net margin of 9.32% and a return on equity of 6.31%. As a group, equities analysts predict that Equinix, Inc. will post 33.1 EPS for the current year.

Equinix Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th will be given a dividend of $4.69 per share. This represents a $18.76 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date is Wednesday, February 26th. This is a positive change from Equinix’s previous quarterly dividend of $4.26. 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.