Adell Harriman & Carpenter Inc. Sells 1,506 Shares of Equinix Inc (EQIX)

Adell Harriman & Carpenter Inc. lowered its holdings in shares of Equinix Inc (NASDAQ:EQIX) by 6.4% during the second quarter, HoldingsChannel reports. The institutional investor owned 22,193 shares of the financial services provider’s stock after selling 1,506 shares during the quarter. Equinix comprises about 1.9% of Adell Harriman & Carpenter Inc.’s investment portfolio, making the stock its 16th biggest position. Adell Harriman & Carpenter Inc.’s holdings in Equinix were worth $9,541,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Barton Investment Management lifted its holdings in shares of Equinix by 1.6% during the second quarter. Barton Investment Management now owns 43,660 shares of the financial services provider’s stock valued at $18,768,000 after acquiring an additional 681 shares during the period. Vista Equity Partners Management LLC bought a new position in shares of Equinix during the first quarter valued at $5,384,000. IFM Investors Pty Ltd lifted its holdings in shares of Equinix by 46.1% during the second quarter. IFM Investors Pty Ltd now owns 3,556 shares of the financial services provider’s stock valued at $1,529,000 after acquiring an additional 1,122 shares during the period. Russell Investments Group Ltd. lifted its holdings in shares of Equinix by 4.2% during the first quarter. Russell Investments Group Ltd. now owns 310,100 shares of the financial services provider’s stock valued at $129,478,000 after acquiring an additional 12,612 shares during the period. Finally, Comerica Bank lifted its holdings in shares of Equinix by 2.1% during the second quarter. Comerica Bank now owns 41,070 shares of the financial services provider’s stock valued at $18,008,000 after acquiring an additional 842 shares during the period.

A number of brokerages have issued reports on EQIX. Citigroup lifted their price objective on Equinix from $494.00 to $506.00 and gave the company a “buy” rating in a report on Thursday. BMO Capital Markets cut their price objective on Equinix from $526.00 to $521.00 and set a “buy” rating for the company in a report on Thursday. Credit Suisse Group set a $520.00 price objective on Equinix and gave the company a “buy” rating in a report on Thursday. Zacks Investment Research cut Equinix from a “buy” rating to a “hold” rating in a report on Monday, July 9th. Finally, Stifel Nicolaus started coverage on Equinix in a report on Tuesday, July 17th. They issued a “buy” rating and a $500.00 price target for the company. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seventeen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $508.30.

In other Equinix news, insider Michael Earl Campbell sold 250 shares of the business’s stock in a transaction dated Monday, July 16th. The stock was sold at an average price of $443.14, for a total transaction of $110,785.00. Following the completion of the sale, the insider now directly owns 1,677 shares of the company’s stock, valued at approximately $743,145.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Keith D. Taylor sold 2,000 shares of the business’s stock in a transaction dated Tuesday, May 29th. The stock was sold at an average price of $392.75, for a total value of $785,500.00. Following the sale, the chief financial officer now directly owns 26,241 shares of the company’s stock, valued at $10,306,152.75. The disclosure for this sale can be found here. Insiders have sold a total of 6,550 shares of company stock valued at $2,730,394 over the last three months. Company insiders own 0.51% of the company’s stock.

Equinix stock opened at $437.24 on Friday. The company has a debt-to-equity ratio of 1.53, a current ratio of 2.36 and a quick ratio of 2.36. Equinix Inc has a 12-month low of $370.79 and a 12-month high of $495.35. The stock has a market capitalization of $35.56 billion, a P/E ratio of 23.60, a price-to-earnings-growth ratio of 1.47 and a beta of 0.51.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings data on Wednesday, August 8th. The financial services provider reported $0.85 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.93 by ($0.08). The firm had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.26 billion. Equinix had a return on equity of 7.24% and a net margin of 5.71%. The business’s revenue for the quarter was up 18.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.80 earnings per share. sell-side analysts predict that Equinix Inc will post 18.86 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 19th. Shareholders of record on Wednesday, August 22nd will be issued a dividend of $2.28 per share. The ex-dividend date is Tuesday, August 21st. This represents a $9.12 annualized dividend and a yield of 2.09%. Equinix’s dividend payout ratio is currently 49.22%.

About Equinix

Equinix, Inc (Nasdaq: EQIX) connects the world's leading businesses to their customers, employees and partners inside the most-interconnected data centers. In 48 markets across five continents, Equinix is where companies come together to realize new opportunities and accelerate their business, IT and cloud strategies.

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Institutional Ownership by Quarter for Equinix (NASDAQ:EQIX)

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