Wealth Alliance Has $714,000 Stock Holdings in Equinix, Inc. (NASDAQ:EQIX)

Wealth Alliance grew its holdings in Equinix, Inc. (NASDAQ:EQIX) by 3.3% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 944 shares of the financial services provider’s stock after buying an additional 30 shares during the quarter. Wealth Alliance’s holdings in Equinix were worth $714,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. CNB Bank increased its position in Equinix by 172.7% in the first quarter. CNB Bank now owns 30 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 19 shares during the period. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Equinix in the second quarter worth about $30,000. LRI Investments LLC acquired a new stake in Equinix in the first quarter worth about $31,000. Meeder Asset Management Inc. acquired a new stake in Equinix in the second quarter worth about $36,000. Finally, Rise Advisors LLC acquired a new stake in Equinix in the first quarter worth about $39,000. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Equinix Trading Down 0.4 %

NASDAQ EQIX opened at $860.95 on Thursday. The stock has a market capitalization of $81.71 billion, a price-to-earnings ratio of 86.35, a PEG ratio of 2.11 and a beta of 0.71. The stock’s 50 day moving average price is $817.51 and its two-hundred day moving average price is $792.99. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.22 and a current ratio of 1.22. Equinix, Inc. has a 52 week low of $677.80 and a 52 week high of $914.93.

Equinix (NASDAQ:EQIX) last released its earnings results on Wednesday, August 7th. The financial services provider reported $3.16 EPS for the quarter, missing the consensus estimate of $7.88 by ($4.72). The firm had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.16 billion. Equinix had a net margin of 12.24% and a return on equity of 8.46%. The company’s revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $8.04 EPS. As a group, analysts anticipate that Equinix, Inc. will post 31.01 earnings per share for the current fiscal year.

Equinix Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 21st were paid a $4.26 dividend. This represents a $17.04 annualized dividend and a yield of 1.98%. The ex-dividend date of this dividend was Wednesday, August 21st. Equinix’s payout ratio is 170.91%.

Analyst Ratings Changes

A number of brokerages recently commented on EQIX. Barclays lifted their price objective on Equinix from $669.00 to $671.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 30th. Royal Bank of Canada decreased their target price on Equinix from $950.00 to $922.00 and set an “outperform” rating for the company in a research report on Tuesday, May 28th. Deutsche Bank Aktiengesellschaft boosted their target price on Equinix from $880.00 to $910.00 and gave the stock a “buy” rating in a research report on Tuesday, August 13th. Mizuho boosted their target price on Equinix from $873.00 to $971.00 and gave the stock an “outperform” rating in a research report on Thursday, September 12th. Finally, The Goldman Sachs Group began coverage on Equinix in a research report on Monday, July 1st. They set a “buy” rating and a $870.00 target price for the company. Six equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, Equinix has a consensus rating of “Moderate Buy” and a consensus price target of $883.71.

Insider Buying and Selling at Equinix

In other Equinix news, insider Brandi Galvin Morandi sold 864 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $850.00, for a total value of $734,400.00. Following the sale, the insider now owns 9,094 shares in the company, valued at approximately $7,729,900. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Scott Crenshaw sold 1,107 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $815.60, for a total transaction of $902,869.20. Following the sale, the executive vice president now owns 4 shares in the company, valued at approximately $3,262.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Brandi Galvin Morandi sold 864 shares of the company’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $850.00, for a total value of $734,400.00. Following the sale, the insider now owns 9,094 shares in the company, valued at approximately $7,729,900. The disclosure for this sale can be found here. In the last quarter, insiders have sold 10,043 shares of company stock worth $8,282,119. Corporate insiders own 0.27% of the company’s stock.

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.