International Assets Investment Management LLC Acquires New Holdings in Equinix, Inc. (NASDAQ:EQIX)

International Assets Investment Management LLC bought a new position in Equinix, Inc. (NASDAQ:EQIX) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund bought 50,752 shares of the financial services provider’s stock, valued at approximately $408,750,000. Equinix accounts for about 1.3% of International Assets Investment Management LLC’s investment portfolio, making the stock its 5th largest position.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in Equinix by 0.3% during the third quarter. Vanguard Group Inc. now owns 12,231,182 shares of the financial services provider’s stock valued at $8,883,018,000 after acquiring an additional 34,926 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Equinix by 44.6% during the 3rd quarter. Principal Financial Group Inc. now owns 1,398,418 shares of the financial services provider’s stock valued at $1,015,610,000 after purchasing an additional 431,435 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Equinix by 1.7% in the 3rd quarter. Northern Trust Corp now owns 1,187,990 shares of the financial services provider’s stock worth $862,790,000 after purchasing an additional 20,241 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Equinix by 3.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 974,403 shares of the financial services provider’s stock worth $707,670,000 after buying an additional 35,333 shares during the last quarter. Finally, Morgan Stanley grew its position in Equinix by 4.8% during the third quarter. Morgan Stanley now owns 940,617 shares of the financial services provider’s stock valued at $683,134,000 after buying an additional 43,143 shares during the period. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Equinix Stock Performance

Shares of NASDAQ EQIX opened at $698.70 on Friday. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.13 and a current ratio of 1.13. The company has a market cap of $66.11 billion, a P/E ratio of 67.77, a P/E/G ratio of 1.83 and a beta of 0.62. Equinix, Inc. has a 52-week low of $672.88 and a 52-week high of $914.93. The firm’s fifty day moving average is $811.00 and its two-hundred day moving average is $801.59.

Equinix Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, February 28th were issued a dividend of $4.26 per share. The ex-dividend date was Tuesday, February 27th. This represents a $17.04 annualized dividend and a dividend yield of 2.44%. Equinix’s dividend payout ratio (DPR) is 165.28%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on EQIX. BMO Capital Markets lifted their price target on shares of Equinix from $910.00 to $925.00 and gave the stock an “outperform” rating in a research note on Thursday, February 15th. HSBC downgraded Equinix from a “buy” rating to a “hold” rating and set a $900.00 target price on the stock. in a research report on Wednesday, March 20th. Royal Bank of Canada upped their price target on Equinix from $855.00 to $950.00 and gave the stock an “outperform” rating in a research report on Thursday, February 29th. Oppenheimer lifted their price objective on Equinix from $875.00 to $950.00 and gave the company an “outperform” rating in a research report on Wednesday, March 20th. Finally, Barclays reduced their target price on shares of Equinix from $818.00 to $669.00 and set an “equal weight” rating for the company in a report on Wednesday, April 17th. Seven research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Equinix has an average rating of “Moderate Buy” and an average target price of $862.50.

Insider Activity

In other news, CFO Keith D. Taylor sold 1,164 shares of the business’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $832.98, for a total value of $969,588.72. Following the sale, the chief financial officer now directly owns 23,187 shares in the company, valued at approximately $19,314,307.26. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, EVP Scott Crenshaw sold 460 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $832.97, for a total value of $383,166.20. Following the completion of the sale, the executive vice president now directly owns 1,242 shares of the company’s stock, valued at approximately $1,034,548.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Keith D. Taylor sold 1,164 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $832.98, for a total value of $969,588.72. Following the transaction, the chief financial officer now directly owns 23,187 shares in the company, valued at approximately $19,314,307.26. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,585 shares of company stock worth $3,818,268. 0.27% of the stock is currently owned by insiders.

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.