Kingsview Wealth Management LLC Takes $362,000 Position in Equinix, Inc. (NASDAQ:EQIX)

Kingsview Wealth Management LLC bought a new position in Equinix, Inc. (NASDAQ:EQIX) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 384 shares of the financial services provider’s stock, valued at approximately $362,000.

Several other hedge funds have also added to or reduced their stakes in EQIX. GHP Investment Advisors Inc. increased its holdings in shares of Equinix by 50.0% in the third quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock worth $35,000 after buying an additional 13 shares during the period. Fortitude Family Office LLC increased its stake in Equinix by 50.0% in the 3rd quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 13 shares during the period. Dunhill Financial LLC lifted its position in Equinix by 108.7% in the third quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 25 shares during the last quarter. Friedenthal Financial purchased a new stake in shares of Equinix during the fourth quarter valued at approximately $58,000. Finally, Thurston Springer Miller Herd & Titak Inc. grew its holdings in shares of Equinix by 31.3% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 63 shares of the financial services provider’s stock worth $59,000 after purchasing an additional 15 shares during the last quarter. 94.94% of the stock is owned by institutional investors.

Equinix Price Performance

Shares of NASDAQ EQIX opened at $923.00 on Friday. The company has a 50 day simple moving average of $936.92 and a two-hundred day simple moving average of $894.76. Equinix, Inc. has a fifty-two week low of $684.14 and a fifty-two week high of $994.03. The company has a market capitalization of $89.06 billion, a price-to-earnings ratio of 83.23, a P/E/G ratio of 2.23 and a beta of 0.72. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.16 and a current ratio of 1.16.

Equinix (NASDAQ:EQIX) last posted its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share for the quarter, beating analysts’ consensus estimates of $2.75 by $5.17. Equinix had a return on equity of 8.34% and a net margin of 12.29%. Analysts expect that Equinix, Inc. will post 31.09 EPS for the current fiscal year.

Equinix Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Investors of record on Wednesday, February 26th will be paid a $4.69 dividend. This is a boost from Equinix’s previous quarterly dividend of $4.26. The ex-dividend date of this dividend is Wednesday, February 26th. This represents a $18.76 dividend on an annualized basis and a yield of 2.03%. Equinix’s payout ratio is presently 153.65%.

Insider Buying and Selling at Equinix

In other Equinix news, Chairman Charles J. Meyers sold 5,788 shares of the stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $909.81, for a total transaction of $5,265,980.28. Following the sale, the chairman now directly owns 15,233 shares in the company, valued at approximately $13,859,135.73. This trade represents a 27.53 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Kurt Pletcher sold 222 shares of the business’s stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $962.20, for a total value of $213,608.40. Following the completion of the transaction, the insider now owns 1,015 shares of the company’s stock, valued at $976,633. This represents a 17.95 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,801 shares of company stock worth $15,530,564. 0.27% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on EQIX shares. Truist Financial increased their price target on shares of Equinix from $935.00 to $1,090.00 and gave the company a “buy” rating in a research report on Friday, November 29th. Scotiabank dropped their target price on shares of Equinix from $1,114.00 to $1,033.00 and set a “sector outperform” rating for the company in a report on Thursday. Barclays boosted their price target on Equinix from $810.00 to $822.00 and gave the company an “equal weight” rating in a report on Monday, November 18th. TD Cowen increased their price objective on Equinix from $865.00 to $984.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Finally, JMP Securities reissued a “market outperform” rating and set a $1,200.00 target price on shares of Equinix in a research note on Thursday. Three analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, Equinix presently has an average rating of “Buy” and a consensus target price of $994.82.

Equinix Profile

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.