Bank of New York Mellon Corp Purchases 2,560 Shares of Equinix, Inc. (NASDAQ:EQIX)

Bank of New York Mellon Corp lifted its position in Equinix, Inc. (NASDAQ:EQIX) by 0.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 628,059 shares of the financial services provider’s stock after acquiring an additional 2,560 shares during the quarter. Bank of New York Mellon Corp owned 0.65% of Equinix worth $592,191,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. State Street Corp increased its position in Equinix by 1.4% during 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 purchasing an additional 81,941 shares during the period. Geode Capital Management LLC boosted its stake in shares of Equinix by 1.4% during the third quarter. Geode Capital Management LLC now owns 2,350,508 shares of the financial services provider’s stock valued at $2,079,591,000 after purchasing an additional 33,277 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Equinix by 2.3% during the fourth quarter. Principal Financial Group Inc. now owns 1,938,572 shares of the financial services provider’s stock valued at $1,827,847,000 after buying an additional 44,471 shares during the period. JPMorgan Chase & Co. raised its stake in Equinix by 17.9% in 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 buying an additional 203,656 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Equinix by 5.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,134,171 shares of the financial services provider’s stock worth $1,006,724,000 after buying an additional 53,729 shares during the period. 94.94% of the stock is currently owned by institutional investors.

Equinix Stock Performance

Shares of EQIX stock opened at $906.66 on Wednesday. The business has a fifty day moving average of $929.20 and a 200 day moving average of $904.03. Equinix, Inc. has a 1 year low of $684.14 and a 1 year high of $994.03. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.63 and a quick ratio of 1.63. The firm has a market capitalization of $88.25 billion, a price-to-earnings ratio of 106.04, a price-to-earnings-growth ratio of 1.78 and a beta of 0.72.

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 return on equity of 6.31% and a net margin of 9.32%. As a group, research analysts expect that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Wednesday, February 26th will be issued a $4.69 dividend. This is an increase from Equinix’s previous quarterly dividend of $4.26. This represents a $18.76 annualized dividend and a dividend yield of 2.07%. The ex-dividend date of this dividend is Wednesday, February 26th. Equinix’s dividend payout ratio is 219.42%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on EQIX. TD Cowen lifted their price target on Equinix from $865.00 to $984.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Royal Bank of Canada raised their price objective on Equinix from $936.00 to $1,025.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Moffett Nathanson upgraded shares of Equinix from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 5th. Stifel Nicolaus increased their price target on shares of Equinix from $995.00 to $1,080.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Finally, Oppenheimer lifted their price objective on shares of Equinix from $950.00 to $975.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. Three research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $994.82.

Insider Transactions at Equinix

In other news, CFO Keith D. Taylor sold 3,184 shares of the business’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $909.82, for a total value of $2,896,866.88. Following the completion of the transaction, the chief financial officer now owns 22,076 shares of the company’s stock, valued at $20,085,186.32. The trade was a 12.60 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Charles J. Meyers sold 5,788 shares of the firm’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $909.81, for a total value of $5,265,980.28. Following the sale, the chairman now directly owns 15,233 shares in the company, valued at approximately $13,859,135.73. This trade represents a 27.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,741 shares of company stock worth $21,988,532 over the last 90 days. 0.27% of the stock is currently owned by company 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.