Prosperity Financial Group Inc. Grows Position in Equinix, Inc. (NASDAQ:EQIX)

Prosperity Financial Group Inc. increased its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 9.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 284 shares of the financial services provider’s stock after buying an additional 25 shares during the period. Prosperity Financial Group Inc.’s holdings in Equinix were worth $268,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Oppenheimer & Co. Inc. increased its stake in shares of Equinix by 61.6% during the fourth quarter. Oppenheimer & Co. Inc. now owns 8,427 shares of the financial services provider’s stock worth $7,946,000 after buying an additional 3,212 shares during the period. Bank of New York Mellon Corp boosted its holdings in Equinix by 0.4% in the fourth quarter. Bank of New York Mellon Corp now owns 628,059 shares of the financial services provider’s stock valued at $592,191,000 after purchasing an additional 2,560 shares in the last quarter. National Pension Service boosted its holdings in Equinix by 1.3% in the fourth quarter. National Pension Service now owns 243,149 shares of the financial services provider’s stock valued at $229,263,000 after purchasing an additional 3,164 shares in the last quarter. Brookfield Corp ON boosted its holdings in Equinix by 67.3% in the third quarter. Brookfield Corp ON now owns 80,760 shares of the financial services provider’s stock valued at $71,685,000 after purchasing an additional 32,481 shares in the last quarter. Finally, Empowered Funds LLC boosted its holdings in Equinix by 19.2% in the fourth quarter. Empowered Funds LLC now owns 2,504 shares of the financial services provider’s stock valued at $2,361,000 after purchasing an additional 404 shares in the last quarter. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Equinix Trading Up 0.7 %

NASDAQ:EQIX opened at $836.24 on Wednesday. The stock has a fifty day moving average price of $918.81 and a two-hundred day moving average price of $908.19. The stock has a market capitalization of $81.39 billion, a price-to-earnings ratio of 97.81, 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. Equinix, Inc. has a 1 year low of $684.14 and a 1 year high of $994.03.

Equinix (NASDAQ:EQIX) last released its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share (EPS) for the quarter, topping the consensus estimate 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 anticipate that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th will be given a $4.69 dividend. The ex-dividend date of this dividend is Wednesday, February 26th. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.24%. This is a boost from Equinix’s previous quarterly dividend of $4.26. Equinix’s dividend payout ratio (DPR) is currently 219.42%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Truist Financial lowered their price target on Equinix from $1,028.00 to $990.00 and set a “buy” rating for the company in a report on Monday. Citizens Jmp raised Equinix to a “strong-buy” rating in a report on Monday, January 27th. Oppenheimer increased their price objective on Equinix from $950.00 to $975.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. Moffett Nathanson raised Equinix from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 5th. Finally, Barclays increased their price objective on Equinix from $810.00 to $822.00 and gave the company an “equal weight” rating in a report on Monday, November 18th. Three research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $989.35.

Insider Activity

In related 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 owns 15,233 shares of the company’s stock, valued at $13,859,135.73. This trade represents a 27.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kurt Pletcher sold 341 shares of the stock in a transaction 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 sale, the insider now directly owns 1,430 shares in the company, valued at approximately $1,292,319.60. The trade was a 19.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 19,054 shares of company stock worth $17,466,950 over the last 90 days. 0.27% of the stock is currently owned by corporate insiders.

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.