Wealth Enhancement Advisory Services LLC Purchases 2,051 Shares of Equinix, Inc. $EQIX

Wealth Enhancement Advisory Services LLC increased its position in Equinix, Inc. (NASDAQ:EQIX) by 39.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,275 shares of the financial services provider’s stock after buying an additional 2,051 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Equinix were worth $5,768,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Quent Capital LLC raised its stake in shares of Equinix by 4.2% during the third quarter. Quent Capital LLC now owns 298 shares of the financial services provider’s stock worth $233,000 after acquiring an additional 12 shares in the last quarter. Flputnam Investment Management Co. boosted its stake in shares of Equinix by 1.0% in the 3rd quarter. Flputnam Investment Management Co. now owns 1,295 shares of the financial services provider’s stock valued at $1,014,000 after purchasing an additional 13 shares in the last quarter. Paragon Private Wealth Management LLC boosted its stake in shares of Equinix by 2.7% in the 3rd quarter. Paragon Private Wealth Management LLC now owns 495 shares of the financial services provider’s stock valued at $388,000 after purchasing an additional 13 shares in the last quarter. Cornerstone Planning Group LLC grew its holdings in shares of Equinix by 40.6% during the 3rd quarter. Cornerstone Planning Group LLC now owns 45 shares of the financial services provider’s stock valued at $37,000 after purchasing an additional 13 shares during the last quarter. Finally, Pathway Financial Advisers LLC grew its holdings in shares of Equinix by 3.2% during the 2nd quarter. Pathway Financial Advisers LLC now owns 455 shares of the financial services provider’s stock valued at $362,000 after purchasing an additional 14 shares during the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Equinix Stock Performance

NASDAQ:EQIX opened at $963.00 on Monday. The firm has a market capitalization of $94.61 billion, a P/E ratio of 70.04, a P/E/G ratio of 2.48 and a beta of 1.04. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 1.40. The company has a fifty day moving average of $907.50 and a 200 day moving average of $827.66. Equinix, Inc. has a 52 week low of $701.41 and a 52 week high of $992.90.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings results on Wednesday, February 11th. The financial services provider reported $8.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.07 by ($0.16). Equinix had a return on equity of 9.60% and a net margin of 14.65%.The firm had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.46 billion. During the same period last year, the business earned $7.92 EPS. Equinix’s revenue was up 7.0% on a year-over-year basis. On average, research analysts predict that Equinix, Inc. will post 33.1 earnings per share for the current year.

Equinix Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 18th. Investors of record on Wednesday, February 25th were issued a dividend of $5.16 per share. The ex-dividend date was Wednesday, February 25th. This represents a $20.64 dividend on an annualized basis and a yield of 2.1%. This is a boost from Equinix’s previous quarterly dividend of $4.69. Equinix’s dividend payout ratio (DPR) is presently 150.11%.

Analyst Ratings Changes

EQIX has been the subject of several recent research reports. TD Cowen reissued a “buy” rating on shares of Equinix in a research note on Thursday, February 12th. Guggenheim raised their price objective on Equinix from $933.00 to $985.00 and gave the company a “buy” rating in a research note on Thursday, February 12th. BMO Capital Markets lifted their price objective on Equinix from $925.00 to $1,050.00 and gave the stock an “outperform” rating in a report on Thursday, February 12th. Stifel Nicolaus set a $1,075.00 target price on Equinix in a research note on Thursday, February 12th. Finally, Morgan Stanley restated an “overweight” rating and set a $1,075.00 target price on shares of Equinix in a report on Friday, February 13th. Three analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, Equinix presently has an average rating of “Moderate Buy” and an average target price of $1,015.05.

Insider Activity at Equinix

In other Equinix news, Chairman Charles J. Meyers sold 2,716 shares of the company’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $965.15, for a total transaction of $2,621,347.40. Following the completion of the transaction, the chairman owned 12,594 shares of the company’s stock, valued at $12,155,099.10. This represents a 17.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Adaire Fox-Martin sold 2,670 shares of the stock in a transaction that occurred on Friday, January 16th. The stock was sold at an average price of $804.08, for a total value of $2,146,893.60. Following the completion of the sale, the chief executive officer owned 14,857 shares of the company’s stock, valued at approximately $11,946,216.56. This trade represents a 15.23% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 16,842 shares of company stock worth $14,494,840 over the last 90 days. 0.27% of the stock is owned by insiders.

About Equinix

Equinix, Inc is a global provider of digital infrastructure and interconnection services, specializing in carrier-neutral data centers and colocation. The company operates a platform that enables enterprises, cloud and network service providers, and content companies to colocate IT infrastructure, interconnect directly with partners and providers, and access cloud on-ramps and network services in a secure, low-latency environment.

Equinix’s offerings include traditional colocation space and power, cross-connects and meet-me rooms, and a suite of connectivity and on-demand services designed for hybrid multicloud architectures.