Equinix, Inc. (NASDAQ:EQIX) Stock Position Reduced by Sentinel Trust Co. LBA

Sentinel Trust Co. LBA trimmed its position in Equinix, Inc. (NASDAQ:EQIX) by 60.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 400 shares of the financial services provider’s stock after selling 600 shares during the quarter. Sentinel Trust Co. LBA’s holdings in Equinix were worth $377,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Equinix by 302.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,082,455 shares of the financial services provider’s stock valued at $960,820,000 after purchasing an additional 813,666 shares during the last quarter. Adelante Capital Management LLC boosted its holdings in shares of Equinix by 202.3% in the 3rd quarter. Adelante Capital Management LLC now owns 514,224 shares of the financial services provider’s stock valued at $456,441,000 after buying an additional 344,114 shares during the period. Proficio Capital Partners LLC bought a new stake in shares of Equinix during the 4th quarter valued at about $246,000. JPMorgan Chase & Co. raised its stake in 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 acquiring an additional 203,656 shares during the period. Finally, abrdn plc lifted its holdings in Equinix by 49.2% in the fourth quarter. abrdn plc now owns 464,840 shares of the financial services provider’s stock worth $437,563,000 after acquiring an additional 153,215 shares during the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

Equinix Price Performance

NASDAQ:EQIX opened at $910.38 on Friday. Equinix, Inc. has a 52-week low of $684.14 and a 52-week high of $994.03. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.19. The firm has a market cap of $88.61 billion, a P/E ratio of 106.48, a PEG ratio of 1.78 and a beta of 0.72. The business’s 50-day moving average price is $928.65 and its 200 day moving average price is $904.11.

Equinix (NASDAQ:EQIX) last announced 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 net margin of 9.32% and a return on equity of 6.31%. As a group, sell-side analysts predict that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th will be given a dividend of $4.69 per share. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date is Wednesday, February 26th. This is an increase from Equinix’s previous quarterly dividend of $4.26. Equinix’s dividend payout ratio is 219.42%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. JMP Securities reaffirmed a “market outperform” rating and set a $1,200.00 target price on shares of Equinix in a report on Thursday, February 13th. Wells Fargo & Company dropped their target price on Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating on the stock in a research report on Thursday, February 13th. Scotiabank reduced their price target 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, February 13th. TD Cowen increased their price objective on shares of Equinix from $865.00 to $984.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Finally, Barclays boosted their target price on shares of Equinix from $810.00 to $822.00 and gave the company an “equal weight” rating in a research note on Monday, November 18th. Three research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Equinix currently has an average rating of “Buy” and an average price target of $994.82.

Insider Transactions at Equinix

In other news, Chairman Charles J. Meyers sold 5,788 shares of the company’s 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 completion of the sale, the chairman now directly owns 15,233 shares of the company’s stock, valued at $13,859,135.73. This represents a 27.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Christopher B. Paisley sold 125 shares of Equinix stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $912.21, for a total value of $114,026.25. Following the completion of the transaction, the director now directly owns 17,669 shares in the company, valued at $16,117,838.49. This represents a 0.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,741 shares of company stock valued at $21,988,532 in the last three months. 0.27% of the stock is currently owned by corporate insiders.

Equinix Company 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.