American International Group Inc. Has $22.47 Million Position in Equinix, Inc. (NASDAQ:EQIX)

American International Group Inc. grew its holdings in Equinix, Inc. (NASDAQ:EQIX) by 1.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 27,900 shares of the financial services provider’s stock after purchasing an additional 406 shares during the quarter. American International Group Inc.’s holdings in Equinix were worth $22,470,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Equinix by 0.3% during the third quarter. Vanguard Group Inc. now owns 12,231,182 shares of the financial services provider’s stock worth $8,883,018,000 after buying an additional 34,926 shares in the last quarter. Norges Bank acquired a new stake in Equinix during the fourth quarter worth about $1,574,132,000. Principal Financial Group Inc. grew its position in Equinix by 2.7% during the fourth quarter. Principal Financial Group Inc. now owns 1,435,568 shares of the financial services provider’s stock worth $1,156,193,000 after buying an additional 37,150 shares in the last quarter. Northern Trust Corp lifted its stake in Equinix by 1.7% during the third quarter. Northern Trust Corp now owns 1,187,990 shares of the financial services provider’s stock worth $862,790,000 after purchasing an additional 20,241 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in Equinix by 3.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 974,403 shares of the financial services provider’s stock worth $707,670,000 after purchasing an additional 35,333 shares during the period. 94.94% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Equinix

In other Equinix news, insider Brandi Galvin Morandi sold 2,070 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $800.50, for a total value of $1,657,035.00. Following the completion of the transaction, the insider now directly owns 12,758 shares in the company, valued at $10,212,779. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Brandi Galvin Morandi sold 2,070 shares of Equinix stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $800.50, for a total value of $1,657,035.00. Following the completion of the transaction, the insider now owns 12,758 shares of the company’s stock, valued at approximately $10,212,779. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Christopher B. Paisley sold 100 shares of the company’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $812.98, for a total value of $81,298.00. Following the completion of the sale, the director now owns 17,641 shares in the company, valued at approximately $14,341,780.18. The disclosure for this sale can be found here. Company insiders own 0.27% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. BMO Capital Markets raised their price target on shares of Equinix from $910.00 to $925.00 and gave the stock an “outperform” rating in a research note on Thursday, February 15th. Barclays boosted their price objective on shares of Equinix from $669.00 to $671.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 30th. Stifel Nicolaus restated a “buy” rating and issued a $960.00 price objective on shares of Equinix in a research report on Wednesday, March 13th. Royal Bank of Canada dropped their price objective on shares of Equinix from $950.00 to $922.00 and set an “outperform” rating for the company in a research report on Tuesday, May 28th. Finally, Truist Financial lifted their target price on shares of Equinix from $915.00 to $950.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Equinix has an average rating of “Moderate Buy” and a consensus target price of $872.81.

Equinix Stock Down 0.8 %

NASDAQ EQIX traded down $6.07 on Wednesday, reaching $758.61. The company had a trading volume of 320,986 shares, compared to its average volume of 613,529. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.10 and a current ratio of 1.10. The firm has a market capitalization of $72.00 billion, a price-to-earnings ratio of 76.09, a price-to-earnings-growth ratio of 2.62 and a beta of 0.68. Equinix, Inc. has a 1-year low of $677.80 and a 1-year high of $914.93. The company’s fifty day moving average is $761.70 and its 200-day moving average is $805.39.

Equinix Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 19th. Shareholders of record on Wednesday, May 22nd will be given a dividend of $4.26 per share. This represents a $17.04 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date is Tuesday, May 21st. Equinix’s dividend payout ratio (DPR) is currently 170.91%.

Equinix 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.