Atria Wealth Solutions Inc. Reduces Position in Equinix, Inc. (NASDAQ:EQIX)

Atria Wealth Solutions Inc. reduced its position in Equinix, Inc. (NASDAQ:EQIX) by 28.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 691 shares of the financial services provider’s stock after selling 273 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Equinix were worth $652,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. State Street Corp raised its holdings in shares of Equinix by 1.4% in the third quarter. State Street Corp now owns 5,826,082 shares of the financial services provider’s stock worth $5,171,405,000 after buying an additional 81,941 shares during the period. Geode Capital Management LLC increased its stake in Equinix by 1.4% in the third quarter. Geode Capital Management LLC now owns 2,350,508 shares of the financial services provider’s stock worth $2,079,591,000 after purchasing an additional 33,277 shares during the period. Principal Financial Group Inc. lifted its position in shares of Equinix by 2.3% during the fourth quarter. Principal Financial Group Inc. now owns 1,938,572 shares of the financial services provider’s stock worth $1,827,847,000 after purchasing an additional 44,471 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Equinix by 17.9% during the third quarter. JPMorgan Chase & Co. now owns 1,338,597 shares of the financial services provider’s stock valued at $1,188,180,000 after purchasing an additional 203,656 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Equinix by 5.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,134,171 shares of the financial services provider’s stock worth $1,006,724,000 after purchasing an additional 53,729 shares during the last quarter. Institutional investors own 94.94% of the company’s stock.

Equinix Stock Performance

Shares of EQIX opened at $906.66 on Wednesday. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.63 and a current ratio of 1.63. Equinix, Inc. has a one year low of $684.14 and a one year high of $994.03. The stock has a market cap of $88.25 billion, a P/E ratio of 106.04, a P/E/G ratio of 1.78 and a beta of 0.72. The stock has a 50-day moving average of $929.20 and a two-hundred day moving average of $904.03.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $7.92 earnings per share for the quarter, topping the consensus estimate of $2.75 by $5.17. Equinix had a return on equity of 6.31% and a net margin of 9.32%. As a group, research analysts predict that Equinix, Inc. will post 33.1 EPS for the current 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 given a $4.69 dividend. This represents a $18.76 annualized dividend and a yield of 2.07%. The ex-dividend date is Wednesday, February 26th. This is a positive change from Equinix’s previous quarterly dividend of $4.26. Equinix’s dividend payout ratio is currently 219.42%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. BMO Capital Markets lowered their price objective on shares of Equinix from $1,085.00 to $1,065.00 and set an “outperform” rating for the company in a research report on Thursday, February 13th. Citizens Jmp raised shares of Equinix to a “strong-buy” rating in a research note on Monday, January 27th. TD Cowen increased their price objective on Equinix from $865.00 to $984.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Oppenheimer upped their target price on Equinix from $950.00 to $975.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. Finally, JMP Securities reissued a “market outperform” rating and set a $1,200.00 price target on shares of Equinix in a research report on Thursday, February 13th. Three research 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, Equinix has a consensus rating of “Buy” and an average price target of $994.82.

Insider Transactions at Equinix

In other news, insider Brandi Galvin Morandi sold 684 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $940.51, for a total value of $643,308.84. Following the completion of the sale, the insider now directly owns 8,377 shares in the company, valued at $7,878,652.27. The trade was a 7.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Christopher B. Paisley sold 125 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $912.21, for a total value of $114,026.25. Following the transaction, the director now owns 17,669 shares in the company, valued at $16,117,838.49. This trade represents a 0.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,741 shares of company stock valued at $21,988,532 in the last 90 days. 0.27% of the stock is currently owned by company 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.