Sound View Wealth Advisors Group LLC Cuts Stock Position in Equinix, Inc. (NASDAQ:EQIX)

Sound View Wealth Advisors Group LLC reduced its position in Equinix, Inc. (NASDAQ:EQIX) by 22.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 2,390 shares of the financial services provider’s stock after selling 697 shares during the quarter. Sound View Wealth Advisors Group LLC’s holdings in Equinix were worth $2,253,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp boosted its holdings in shares of Equinix by 1.4% in the 3rd quarter. State Street Corp now owns 5,826,082 shares of the financial services provider’s stock worth $5,171,405,000 after purchasing an additional 81,941 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Equinix by 1.4% during the 3rd 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 acquiring an additional 33,277 shares during the period. Principal Financial Group Inc. boosted its holdings in Equinix by 2.3% during the 4th 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 acquiring an additional 44,471 shares during the period. JPMorgan Chase & Co. boosted its holdings in Equinix by 17.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,338,597 shares of the financial services provider’s stock valued at $1,188,180,000 after acquiring an additional 203,656 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Equinix by 3.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,174,962 shares of the financial services provider’s stock valued at $1,107,860,000 after acquiring an additional 40,791 shares during the period. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Equinix Stock Performance

Shares of EQIX opened at $859.52 on Friday. The business’s fifty day simple moving average is $923.05 and its two-hundred day simple moving average is $907.42. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.19. Equinix, Inc. has a 12 month low of $684.14 and a 12 month high of $994.03. The company has a market cap of $83.66 billion, a price-to-earnings ratio of 100.53, a P/E/G ratio of 1.78 and a beta of 0.74.

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

Equinix Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Wednesday, February 26th will be paid a dividend of $4.69 per share. This is a boost from Equinix’s previous quarterly dividend of $4.26. This represents a $18.76 annualized dividend and a yield of 2.18%. The ex-dividend date of this dividend is Wednesday, February 26th. Equinix’s payout ratio is presently 219.42%.

Analyst Ratings Changes

EQIX has been the subject of several analyst reports. Wells Fargo & Company dropped their target price on Equinix from $1,075.00 to $1,065.00 and set an “overweight” rating for the company in a report on Thursday, February 13th. Barclays increased their price objective on Equinix from $810.00 to $822.00 and gave the stock an “equal weight” rating in a report on Monday, November 18th. Truist Financial increased their price objective on Equinix from $935.00 to $1,090.00 and gave the stock a “buy” rating in a report on Friday, November 29th. Citizens Jmp upgraded Equinix to a “strong-buy” rating in a report on Monday, January 27th. Finally, Royal Bank of Canada increased their price objective on Equinix from $936.00 to $1,025.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. Three 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 company. According to data from MarketBeat.com, Equinix currently has a consensus rating of “Buy” and an average target price of $995.24.

Insiders Place Their Bets

In other Equinix news, Director Christopher B. Paisley sold 125 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $912.21, for a total transaction of $114,026.25. Following the completion of the transaction, the director now owns 17,669 shares in the company, valued at $16,117,838.49. The trade was a 0.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Adaire Fox-Martin sold 1,370 shares of the business’s stock in a transaction that occurred on Thursday, January 16th. The shares were sold at an average price of $909.51, for a total value of $1,246,028.70. Following the transaction, the chief executive officer now owns 4,329 shares of the company’s stock, valued at $3,937,268.79. This trade represents a 24.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,054 shares of company stock valued at $17,466,950 over the last ninety days. 0.27% of the stock is owned by 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.