Advisors Capital Management LLC Has $472,000 Position in Equinix, Inc. (NASDAQ:EQIX)

Advisors Capital Management LLC decreased its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 4.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 500 shares of the financial services provider’s stock after selling 24 shares during the quarter. Advisors Capital Management LLC’s holdings in Equinix were worth $472,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of EQIX. Sagespring Wealth Partners LLC bought a new position in Equinix in the fourth quarter valued at about $763,000. Townsquare Capital LLC lifted its position in Equinix by 11.8% during the 4th quarter. Townsquare Capital LLC now owns 2,172 shares of the financial services provider’s stock valued at $2,048,000 after purchasing an additional 229 shares during the period. Rockefeller Capital Management L.P. boosted its stake in shares of Equinix by 4.2% in the 4th quarter. Rockefeller Capital Management L.P. now owns 71,547 shares of the financial services provider’s stock valued at $67,443,000 after purchasing an additional 2,896 shares during the last quarter. Heritage Trust Co bought a new stake in shares of Equinix during the fourth quarter worth approximately $888,000. Finally, Argent Trust Co lifted its holdings in Equinix by 30.6% in the fourth quarter. Argent Trust Co now owns 533 shares of the financial services provider’s stock valued at $503,000 after buying an additional 125 shares during the period. 94.94% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Equinix news, EVP Raouf Abdel sold 1,331 shares of the company’s stock in a transaction that occurred on Thursday, January 16th. The stock was sold at an average price of $903.71, for a total value of $1,202,838.01. Following the sale, the executive vice president now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Kurt Pletcher sold 341 shares of Equinix stock in a transaction that occurred on 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 represents a 19.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,054 shares of company stock valued at $17,466,950. 0.27% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have commented on EQIX shares. Scotiabank lifted their target price on shares of Equinix from $1,033.00 to $1,040.00 and gave the stock a “sector outperform” rating in a report on Monday, March 3rd. Cfra Research upgraded Equinix from a “hold” rating to a “strong-buy” rating in a report on Friday, March 28th. JMP Securities restated a “market outperform” rating and set a $1,200.00 target price on shares of Equinix in a report on Thursday, February 13th. Moffett Nathanson raised Equinix from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, February 5th. Finally, Wolfe Research upgraded shares of Equinix from a “peer perform” rating to an “outperform” rating and set a $978.00 price target on the stock in a research report on Thursday, March 27th. Two analysts have rated the stock with a hold rating, sixteen have issued a buy rating and four have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $1,007.59.

Equinix Stock Up 0.5 %

Equinix stock opened at $787.49 on Wednesday. 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 1-year low of $684.14 and a 1-year high of $994.03. The company has a fifty day simple moving average of $856.99 and a 200 day simple moving average of $899.60. The company has a market cap of $76.65 billion, a P/E ratio of 92.10, a price-to-earnings-growth ratio of 1.78 and a beta of 0.95.

Equinix (NASDAQ:EQIX) last released its 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%. Research analysts anticipate that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Wednesday, February 26th were issued a dividend of $4.69 per share. This represents a $18.76 dividend on an annualized basis and a yield of 2.38%. This is an increase from Equinix’s previous quarterly dividend of $4.26. The ex-dividend date of this dividend was Wednesday, February 26th. Equinix’s payout ratio is presently 219.42%.

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.