American International Group Inc. boosted its stake in shares of Equinix (NASDAQ:EQIX) by 0.7% in the 1st quarter, HoldingsChannel reports. The fund owned 30,396 shares of the financial services provider’s stock after buying an additional 225 shares during the period. American International Group Inc.’s holdings in Equinix were worth $12,710,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Lenox Wealth Management Inc. grew its stake in Equinix by 7.8% during the fourth quarter. Lenox Wealth Management Inc. now owns 1,730 shares of the financial services provider’s stock valued at $784,000 after acquiring an additional 125 shares in the last quarter. Checchi Capital Advisers LLC grew its stake in Equinix by 14.9% during the first quarter. Checchi Capital Advisers LLC now owns 964 shares of the financial services provider’s stock valued at $403,000 after acquiring an additional 125 shares in the last quarter. Fagan Associates Inc. grew its stake in shares of Equinix by 3.8% in the 4th quarter. Fagan Associates Inc. now owns 3,717 shares of the financial services provider’s stock worth $1,685,000 after buying an additional 135 shares in the last quarter. Girard Partners LTD. grew its stake in shares of Equinix by 9.7% in the 4th quarter. Girard Partners LTD. now owns 1,761 shares of the financial services provider’s stock worth $798,000 after buying an additional 156 shares in the last quarter. Finally, Whittier Trust Co. grew its stake in shares of Equinix by 191.5% in the 4th quarter. Whittier Trust Co. now owns 239 shares of the financial services provider’s stock worth $108,000 after buying an additional 157 shares in the last quarter. 97.74% of the stock is owned by institutional investors.

NASDAQ:EQIX opened at $385.76 on Thursday. The company has a market cap of $31.62 billion, a price-to-earnings ratio of 20.82, a P/E/G ratio of 1.12 and a beta of 0.51. Equinix has a twelve month low of $386.59 and a twelve month high of $388.90. The company has a current ratio of 2.36, a quick ratio of 2.36 and a debt-to-equity ratio of 1.53.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings data on Wednesday, May 2nd. The financial services provider reported $0.79 EPS for the quarter, missing the consensus estimate of $3.70 by ($2.91). Equinix had a net margin of 5.48% and a return on equity of 7.00%. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.21 billion. During the same quarter in the previous year, the firm posted $4.14 earnings per share. The business’s revenue was up 28.1% on a year-over-year basis. equities research analysts expect that Equinix will post 18.88 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 20th. Shareholders of record on Wednesday, May 23rd will be paid a dividend of $2.28 per share. This represents a $9.12 annualized dividend and a yield of 2.36%. The ex-dividend date of this dividend is Tuesday, May 22nd. Equinix’s payout ratio is 49.22%.

In other Equinix news, Director Irving F. Lyons III sold 5,296 shares of Equinix stock in a transaction that occurred on Tuesday, March 6th. The shares were sold at an average price of $390.41, for a total transaction of $2,067,611.36. Following the completion of the sale, the director now directly owns 24,788 shares in the company, valued at approximately $9,677,483.08. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Charles J. Meyers sold 400 shares of Equinix stock in a transaction that occurred on Monday, April 16th. The shares were sold at an average price of $404.96, for a total transaction of $161,984.00. Following the sale, the insider now owns 4,916 shares of the company’s stock, valued at $1,990,783.36. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 26,446 shares of company stock valued at $10,597,051. Company insiders own 0.51% of the company’s stock.

EQIX has been the subject of a number of recent research reports. Credit Suisse Group set a $524.00 price objective on shares of Equinix and gave the stock an “outperform” rating in a research note on Wednesday, January 17th. Wells Fargo dropped their price objective on shares of Equinix from $510.00 to $485.00 and set an “outperform” rating for the company in a research note on Thursday, February 15th. Barclays reissued a “buy” rating and issued a $500.00 price objective on shares of Equinix in a research note on Friday, February 16th. Deutsche Bank raised their target price on shares of Equinix from $545.00 to $550.00 and gave the stock a “buy” rating in a report on Tuesday, April 17th. Finally, Guggenheim set a $515.00 target price on shares of Equinix and gave the stock a “buy” rating in a report on Thursday, February 15th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and nineteen have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $502.95.

Equinix Profile

Equinix, Inc (Nasdaq: EQIX) connects the world's leading businesses to their customers, employees and partners inside the most-interconnected data centers. In 48 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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Institutional Ownership by Quarter for Equinix (NASDAQ:EQIX)

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