HB Wealth Management LLC Has $1.58 Million Holdings in Equinix, Inc. (NASDAQ:EQIX)

HB Wealth Management LLC raised its stake in Equinix, Inc. (NASDAQ:EQIX) by 2.8% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,675 shares of the financial services provider’s stock after buying an additional 45 shares during the period. HB Wealth Management LLC’s holdings in Equinix were worth $1,579,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in EQIX. State Street Corp raised its position in shares of Equinix by 1.4% in the 3rd quarter. State Street Corp now owns 5,826,082 shares of the financial services provider’s stock valued at $5,171,405,000 after acquiring an additional 81,941 shares during the period. Geode Capital Management LLC raised its holdings in Equinix by 1.4% in the third quarter. Geode Capital Management LLC now owns 2,350,508 shares of the financial services provider’s stock worth $2,079,591,000 after purchasing an additional 33,277 shares during the period. Principal Financial Group Inc. raised its holdings in Equinix by 0.3% in the third quarter. Principal Financial Group Inc. now owns 1,894,101 shares of the financial services provider’s stock worth $1,681,256,000 after purchasing an additional 5,910 shares during the period. JPMorgan Chase & Co. boosted its position in shares of Equinix by 17.9% during the third quarter. JPMorgan Chase & Co. now owns 1,338,597 shares of the financial services provider’s stock worth $1,188,180,000 after purchasing an additional 203,656 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Equinix by 5.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,134,171 shares of the financial services provider’s stock valued at $1,006,724,000 after buying an additional 53,729 shares during the period. Institutional investors own 94.94% of the company’s stock.

Insider Activity

In other news, EVP Raouf Abdel sold 1,022 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $923.56, for a total value of $943,878.32. Following the transaction, the executive vice president now directly owns 4,893 shares of the company’s stock, valued at $4,518,979.08. This represents a 17.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Brandi Galvin Morandi sold 863 shares of Equinix stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $915.00, for a total transaction of $789,645.00. Following the sale, the insider now directly owns 8,231 shares of the company’s stock, valued at $7,531,365. The trade was a 9.49 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 20,412 shares of company stock valued at $18,826,100. 0.27% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts recently commented on the company. Barclays raised their price objective on Equinix from $810.00 to $822.00 and gave the stock an “equal weight” rating in a research note on Monday, November 18th. HSBC upgraded Equinix from a “hold” rating to a “buy” rating and lifted their price objective for the company from $865.00 to $1,000.00 in a report on Friday, October 4th. TD Cowen raised their target price on shares of Equinix from $865.00 to $984.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. BMO Capital Markets upped their price target on shares of Equinix from $975.00 to $1,020.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Finally, The Goldman Sachs Group raised their price objective on shares of Equinix from $870.00 to $980.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Three investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $976.81.

Equinix Price Performance

NASDAQ:EQIX opened at $915.59 on Tuesday. The stock has a market capitalization of $88.35 billion, a PE ratio of 82.56, a P/E/G ratio of 2.12 and a beta of 0.73. Equinix, Inc. has a 1-year low of $684.14 and a 1-year high of $994.03. The firm has a fifty day simple moving average of $941.64 and a 200 day simple moving average of $877.60. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.12.

Equinix Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 11th. Stockholders of record on Wednesday, November 13th were paid a dividend of $4.26 per share. The ex-dividend date was Wednesday, November 13th. This represents a $17.04 annualized dividend and a dividend yield of 1.86%. Equinix’s dividend payout ratio is presently 153.65%.

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.