M&T Bank Corp Acquires 339 Shares of Equinix, Inc. (NASDAQ:EQIX)

M&T Bank Corp increased its holdings in Equinix, Inc. (NASDAQ:EQIX) by 2.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 15,038 shares of the financial services provider’s stock after purchasing an additional 339 shares during the period. M&T Bank Corp’s holdings in Equinix were worth $14,179,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of EQIX. J.Safra Asset Management Corp purchased a new position in Equinix during the fourth quarter worth $39,000. Laffer Tengler Investments Inc. boosted its stake in Equinix by 9.6% during the fourth quarter. Laffer Tengler Investments Inc. now owns 2,955 shares of the financial services provider’s stock worth $2,786,000 after buying an additional 259 shares during the period. Keybank National Association OH boosted its stake in Equinix by 7.4% during the fourth quarter. Keybank National Association OH now owns 3,414 shares of the financial services provider’s stock worth $3,219,000 after buying an additional 235 shares during the period. Commerzbank Aktiengesellschaft FI boosted its stake in Equinix by 6.3% during the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 1,561 shares of the financial services provider’s stock worth $1,472,000 after buying an additional 93 shares during the period. Finally, Nicola Wealth Management LTD. boosted its stake in Equinix by 7.9% during the fourth quarter. Nicola Wealth Management LTD. now owns 3,561 shares of the financial services provider’s stock worth $3,358,000 after buying an additional 260 shares during the period. Institutional investors own 94.94% of the company’s stock.

Insiders Place Their Bets

In other news, insider Brandi Galvin Morandi sold 684 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $940.51, for a total transaction of $643,308.84. Following the transaction, the insider now owns 8,377 shares in the company, valued at $7,878,652.27. This represents a 7.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Raouf Abdel sold 1,331 shares of the company’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $903.71, for a total transaction of $1,202,838.01. Following the transaction, the executive vice president now owns 6,579 shares in the company, valued at approximately $5,945,508.09. This trade represents a 16.83 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,054 shares of company stock worth $17,466,950. 0.27% of the stock is owned by corporate insiders.

Equinix Stock Performance

Shares of Equinix stock opened at $921.02 on Thursday. The company has a market capitalization of $89.64 billion, a PE ratio of 107.72, a P/E/G ratio of 1.78 and a beta of 0.72. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.63 and a current ratio of 1.63. The company has a 50-day simple moving average of $926.24 and a two-hundred day simple moving average of $906.92. Equinix, Inc. has a one year low of $684.14 and a one year high of $994.03.

Equinix (NASDAQ:EQIX) last announced its earnings results on Wednesday, February 12th. The financial services provider reported $7.92 EPS for the quarter, topping analysts’ consensus estimates of $2.75 by $5.17. Equinix had a net margin of 9.32% and a return on equity of 6.31%. Research analysts expect that Equinix, Inc. will post 33.1 EPS for the current fiscal year.

Equinix Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th will be issued a $4.69 dividend. The ex-dividend date is Wednesday, February 26th. This is an increase from Equinix’s previous quarterly dividend of $4.26. This represents a $18.76 dividend on an annualized basis and a yield of 2.04%. Equinix’s payout ratio is currently 219.42%.

Analyst Ratings Changes

Several research analysts have commented on EQIX shares. Scotiabank lifted their price objective on shares of Equinix from $1,033.00 to $1,040.00 and gave the stock a “sector outperform” rating in a research note on Monday. Truist Financial boosted their target price on shares of Equinix from $935.00 to $1,090.00 and gave the company a “buy” rating in a research note on Friday, November 29th. Barclays boosted their target price on shares of Equinix from $810.00 to $822.00 and gave the company an “equal weight” rating in a research note on Monday, November 18th. Royal Bank of Canada boosted their target price on shares of Equinix from $936.00 to $1,025.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. Finally, Stifel Nicolaus boosted their target price on shares of Equinix from $995.00 to $1,080.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Three investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $995.24.

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.