American International Group Inc. Has $14.59 Million Stake in Equinix Inc (EQIX)
American International Group Inc. increased its position in Equinix Inc (NASDAQ:EQIX) by 2.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 32,206 shares of the financial services provider’s stock after purchasing an additional 769 shares during the quarter. American International Group Inc.’s holdings in Equinix were worth $14,594,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently made changes to their positions in the company. Washington Trust Bank purchased a new position in shares of Equinix in the first quarter valued at $29,000. Spectrum Management Group Inc. bought a new position in Equinix during the 1st quarter valued at $29,000. Farmers & Merchants Investments Inc. boosted its stake in Equinix by 174.2% during the 4th quarter. Farmers & Merchants Investments Inc. now owns 85 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 54 shares during the last quarter. Pearl River Capital LLC bought a new position in Equinix during the 4th quarter valued at $35,000. Finally, Proficio Capital Partners LLC boosted its stake in Equinix by 116.7% during the 4th quarter. Proficio Capital Partners LLC now owns 117 shares of the financial services provider’s stock valued at $41,000 after acquiring an additional 63 shares during the last quarter. Institutional investors and hedge funds own 98.76% of the company’s stock.
Equinix stock opened at $486.62 on Thursday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 1.56 and a current ratio of 1.56. Equinix Inc has a 1 year low of $335.29 and a 1 year high of $488.38. The stock has a market capitalization of $39.10 billion, a PE ratio of 23.52, a price-to-earnings-growth ratio of 1.65 and a beta of 0.89.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 19th. Stockholders of record on Wednesday, May 22nd will be given a $2.46 dividend. The ex-dividend date is Tuesday, May 21st. This represents a $9.84 dividend on an annualized basis and a dividend yield of 2.02%. Equinix’s payout ratio is currently 47.56%.
In other news, insider Michael Earl Campbell sold 250 shares of the firm’s stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $445.74, for a total value of $111,435.00. Following the transaction, the insider now directly owns 3,578 shares in the company, valued at approximately $1,594,857.72. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Simon Miller sold 378 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $426.92, for a total transaction of $161,375.76. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,143 shares of company stock worth $7,776,844. Insiders own 0.49% of the company’s stock.
A number of research analysts have commented on EQIX shares. BidaskClub downgraded shares of Equinix from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, April 16th. Credit Suisse Group increased their price objective on shares of Equinix from $467.00 to $474.00 and gave the company an “outperform” rating in a research note on Thursday, February 14th. Citigroup increased their price objective on shares of Equinix from $481.00 to $482.00 and gave the company a “buy” rating in a research note on Friday, March 1st. Zacks Investment Research downgraded shares of Equinix from a “hold” rating to a “sell” rating in a research note on Monday, February 11th. Finally, Oppenheimer increased their price objective on shares of Equinix from $475.00 to $500.00 and gave the company an “outperform” rating in a research note on Thursday, May 2nd. Two investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $501.44.
Equinix, Inc (Nasdaq: EQIX) connects the world's leading businesses to their customers, employees and partners inside the most-interconnected data centers. In 52 markets across five continents, Equinix is where companies come together to realize new opportunities and accelerate their business, IT and cloud strategies.
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