Adell Harriman & Carpenter Inc. trimmed its stake in Equinix, Inc. (NASDAQ:EQIX) by 0.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 24,719 shares of the financial services provider’s stock after selling 111 shares during the period. Equinix makes up approximately 2.4% of Adell Harriman & Carpenter Inc.’s portfolio, making the stock its 7th biggest holding. Adell Harriman & Carpenter Inc.’s holdings in Equinix were worth $11,032,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of EQIX. Gateway Investment Advisers LLC grew its position in Equinix by 6.3% during the second quarter. Gateway Investment Advisers LLC now owns 5,089 shares of the financial services provider’s stock valued at $2,184,000 after acquiring an additional 303 shares during the last quarter. Exane Derivatives bought a new position in Equinix during the second quarter valued at approximately $640,000. Nisa Investment Advisors LLC grew its position in Equinix by 77.9% during the second quarter. Nisa Investment Advisors LLC now owns 14,583 shares of the financial services provider’s stock valued at $6,280,000 after acquiring an additional 6,384 shares during the last quarter. Spirit of America Management Corp NY grew its position in Equinix by 140.0% during the second quarter. Spirit of America Management Corp NY now owns 2,400 shares of the financial services provider’s stock valued at $1,030,000 after acquiring an additional 1,400 shares during the last quarter. Finally, Aperio Group LLC grew its position in Equinix by 19.1% during the second quarter. Aperio Group LLC now owns 30,457 shares of the financial services provider’s stock valued at $13,071,000 after acquiring an additional 4,894 shares during the last quarter. Institutional investors own 95.09% of the company’s stock.
Shares of Equinix, Inc. (NASDAQ EQIX) traded up $1.91 during mid-day trading on Tuesday, reaching $484.12. The company had a trading volume of 428,800 shares, compared to its average volume of 502,095. Equinix, Inc. has a 12 month low of $314.55 and a 12 month high of $495.35. The stock has a market capitalization of $37,725.07, a price-to-earnings ratio of 27.12, a price-to-earnings-growth ratio of 1.94 and a beta of 0.46. The company has a debt-to-equity ratio of 1.51, a current ratio of 2.11 and a quick ratio of 2.11.
Equinix (NASDAQ:EQIX) last announced its quarterly earnings results on Wednesday, November 1st. The financial services provider reported $3.63 EPS for the quarter, topping analysts’ consensus estimates of $1.39 by $2.24. Equinix had a return on equity of 5.59% and a net margin of 5.58%. The company had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.14 billion. During the same quarter last year, the firm posted $3.95 earnings per share. The firm’s revenue was up 24.6% on a year-over-year basis. research analysts predict that Equinix, Inc. will post 16.05 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 13th. Shareholders of record on Wednesday, November 15th will be issued a $2.00 dividend. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $8.00 dividend on an annualized basis and a yield of 1.65%. Equinix’s dividend payout ratio (DPR) is 264.03%.
In other Equinix news, Director Christopher B. Paisley sold 593 shares of the stock in a transaction on Monday, November 6th. The stock was sold at an average price of $484.99, for a total value of $287,599.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Karl Strohmeyer sold 250 shares of the stock in a transaction on Friday, August 25th. The stock was sold at an average price of $464.96, for a total value of $116,240.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,560 shares of company stock valued at $3,459,196. 0.58% of the stock is owned by corporate insiders.
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A number of research analysts have commented on EQIX shares. BidaskClub cut shares of Equinix from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, August 8th. Stifel Nicolaus reiterated a “buy” rating and set a $497.00 price target (up from $485.00) on shares of Equinix in a research report on Thursday, August 3rd. Berenberg Bank started coverage on shares of Equinix in a research report on Tuesday, September 26th. They set a “buy” rating and a $550.00 price target on the stock. Cowen and Company reiterated a “buy” rating on shares of Equinix in a research report on Friday, July 21st. Finally, Deutsche Bank AG began coverage on Equinix in a research note on Tuesday, October 24th. They set a “buy” rating and a $550.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $495.20.
Equinix, Inc (Equinix) connects businesses with partners and customers worldwide through a global platform of data centers. The Company connects approximately 4000 customers, across the Americas, Europe, Middle East and Africa (EMEA) and Asia-Pacific. Platform Equinix combines international business exchange (IBX) data centers, a global footprint and ecosystems.
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