HB Wealth Management LLC Raises Stock Holdings in Equinix, Inc. (NASDAQ:EQIX)

Posted by Defense World Staff on Apr 1st, 2023

HB Wealth Management LLC increased its position in Equinix, Inc. (NASDAQ:EQIX – Get Rating) by 54.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 678 shares of the financial services provider’s stock after purchasing an additional 238 shares during the period. HB Wealth Management LLC’s holdings in Equinix were worth $444,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Equinix by 0.7% in the third quarter. Vanguard Group Inc. now owns 12,011,822 shares of the financial services provider’s stock worth $6,832,805,000 after purchasing an additional 82,116 shares during the period. BlackRock Inc. grew its stake in shares of Equinix by 0.3% in the third quarter. BlackRock Inc. now owns 9,056,624 shares of the financial services provider’s stock worth $5,151,771,000 after acquiring an additional 31,578 shares during the last quarter. State Street Corp increased its holdings in shares of Equinix by 11.7% during the second quarter. State Street Corp now owns 6,008,037 shares of the financial services provider’s stock valued at $3,947,400,000 after acquiring an additional 630,477 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Equinix by 0.8% during the third quarter. Dimensional Fund Advisors LP now owns 1,225,904 shares of the financial services provider’s stock valued at $697,337,000 after acquiring an additional 9,878 shares in the last quarter. Finally, Legal & General Group Plc increased its holdings in shares of Equinix by 5.0% during the second quarter. Legal & General Group Plc now owns 1,094,583 shares of the financial services provider’s stock valued at $719,168,000 after acquiring an additional 51,995 shares in the last quarter. 92.80% of the stock is owned by hedge funds and other institutional investors.

Equinix Trading Up 2.7 %

EQIX opened at $721.04 on Friday. Equinix, Inc. has a 52 week low of $494.89 and a 52 week high of $776.35. The business has a fifty day simple moving average of $706.11 and a 200-day simple moving average of $655.63. The firm has a market cap of $66.90 billion, a P/E ratio of 93.89, a P/E/G ratio of 2.30 and a beta of 0.61. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 1.29.

Equinix (NASDAQ:EQIX – Get Rating) last released its earnings results on Wednesday, February 15th. The financial services provider reported $1.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.90 by ($4.51). The company had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.86 billion. Equinix had a net margin of 9.70% and a return on equity of 6.37%. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same quarter last year, the business posted $6.22 earnings per share. On average, equities analysts expect that Equinix, Inc. will post 27.53 earnings per share for the current year.

Equinix Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 22nd. Shareholders of record on Tuesday, March 7th were issued a $3.41 dividend. The ex-dividend date was Monday, March 6th. This represents a $13.64 dividend on an annualized basis and a yield of 1.89%. This is an increase from Equinix’s previous quarterly dividend of $3.10. Equinix’s dividend payout ratio (DPR) is 177.60%.

Insider Buying and Selling at Equinix

In other Equinix news, CFO Keith D. Taylor sold 1,358 shares of the firm’s stock in a transaction dated Thursday, March 9th. The stock was sold at an average price of $688.48, for a total value of $934,955.84. Following the sale, the chief financial officer now directly owns 24,177 shares of the company’s stock, valued at approximately $16,645,380.96. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, EVP Jonathan Lin sold 233 shares of the business’s stock in a transaction that occurred on Wednesday, January 18th. The stock was sold at an average price of $715.12, for a total transaction of $166,622.96. Following the transaction, the executive vice president now directly owns 6,015 shares of the company’s stock, valued at approximately $4,301,446.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Keith D. Taylor sold 1,358 shares of the business’s stock in a transaction that occurred on Thursday, March 9th. The stock was sold at an average price of $688.48, for a total value of $934,955.84. Following the transaction, the chief financial officer now directly owns 24,177 shares in the company, valued at $16,645,380.96. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,971 shares of company stock valued at $14,666,488. 0.32% of the stock is owned by company insiders.

Analyst Ratings Changes

EQIX has been the topic of several recent analyst reports. BNP Paribas initiated coverage on Equinix in a research report on Wednesday, December 14th. They set an “outperform” rating and a $886.00 price objective on the stock. Oppenheimer increased their price objective on Equinix from $750.00 to $760.00 and gave the company an “outperform” rating in a research report on Thursday, February 16th. BMO Capital Markets raised Equinix from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $755.00 to $785.00 in a research report on Monday, March 27th. TheStreet raised Equinix from a “c+” rating to a “b-” rating in a research report on Tuesday, December 13th. Finally, Stifel Nicolaus increased their price objective on Equinix from $800.00 to $820.00 in a research report on Thursday, February 16th. Five analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $780.94.

Equinix Profile

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Equinix, Inc engages in the provision of collocation space and develops data center solutions. The firm offers secure key management, consulting, network virtualization, customer support, and managed services. It operates through the following geographical segments: Americas, Europe, Middle East & Africa and Asia-Pacific.

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Institutional Ownership by Quarter for Equinix (NASDAQ:EQIX)

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