Segment Wealth Management LLC Has $296,000 Stock Holdings in Equinix, Inc. $EQIX

Segment Wealth Management LLC decreased its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 64.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 378 shares of the financial services provider’s stock after selling 692 shares during the period. Segment Wealth Management LLC’s holdings in Equinix were worth $296,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Quent Capital LLC increased its position in Equinix by 4.8% during the second quarter. Quent Capital LLC now owns 286 shares of the financial services provider’s stock worth $228,000 after acquiring an additional 13 shares during the period. Whittier Trust Co. raised its position in shares of Equinix by 1.3% in the second quarter. Whittier Trust Co. now owns 1,040 shares of the financial services provider’s stock valued at $827,000 after buying an additional 13 shares in the last quarter. CVA Family Office LLC boosted its stake in shares of Equinix by 10.9% in the second quarter. CVA Family Office LLC now owns 132 shares of the financial services provider’s stock valued at $105,000 after buying an additional 13 shares during the period. Flputnam Investment Management Co. grew its position in Equinix by 1.0% during the third quarter. Flputnam Investment Management Co. now owns 1,295 shares of the financial services provider’s stock worth $1,014,000 after buying an additional 13 shares in the last quarter. Finally, Bank of Jackson Hole Trust increased its stake in Equinix by 70.0% during the 2nd quarter. Bank of Jackson Hole Trust now owns 34 shares of the financial services provider’s stock worth $27,000 after acquiring an additional 14 shares during the period. Institutional investors own 94.94% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on EQIX. Daiwa Capital Markets set a $917.00 price objective on Equinix and gave the company an “outperform” rating in a report on Wednesday, October 22nd. Truist Financial upped their price objective on shares of Equinix from $961.00 to $973.00 and gave the stock a “buy” rating in a research report on Tuesday, November 18th. Morgan Stanley started coverage on shares of Equinix in a report on Thursday, October 16th. They issued an “overweight” rating and a $950.00 target price on the stock. Citigroup restated a “buy” rating on shares of Equinix in a research report on Thursday, December 11th. Finally, TD Cowen increased their price target on shares of Equinix from $993.00 to $995.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Four equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, Equinix presently has an average rating of “Moderate Buy” and a consensus target price of $953.90.

Equinix Price Performance

Shares of NASDAQ:EQIX opened at $769.71 on Wednesday. Equinix, Inc. has a one year low of $701.41 and a one year high of $964.73. The company has a debt-to-equity ratio of 1.32, a current ratio of 1.62 and a quick ratio of 1.62. The company has a market cap of $75.58 billion, a price-to-earnings ratio of 70.49, a PEG ratio of 1.56 and a beta of 1.05. The firm has a 50 day simple moving average of $777.45 and a 200 day simple moving average of $787.86.

Equinix (NASDAQ:EQIX) last announced its quarterly earnings results on Wednesday, October 29th. The financial services provider reported $9.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.27 by $0.56. Equinix had a net margin of 11.82% and a return on equity of 7.70%. The company had revenue of $2.32 billion during the quarter, compared to the consensus estimate of $2.33 billion. During the same period in the prior year, the business earned $9.05 earnings per share. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. Equinix has set its FY 2025 guidance at 37.950-38.77 EPS. Research analysts predict that Equinix, Inc. will post 33.1 earnings per share for the current fiscal year.

Equinix Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 17th. Stockholders of record on Wednesday, November 19th were paid a dividend of $4.69 per share. This represents a $18.76 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Wednesday, November 19th. Equinix’s dividend payout ratio (DPR) is presently 171.79%.

Insider Activity at Equinix

In other news, Director Christopher B. Paisley sold 50 shares of the company’s stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $777.58, for a total value of $38,879.00. Following the completion of the transaction, the director owned 17,782 shares of the company’s stock, valued at $13,826,927.56. This represents a 0.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Adaire Fox-Martin sold 2,894 shares of Equinix stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $731.09, for a total transaction of $2,115,774.46. Following the sale, the chief executive officer owned 12,366 shares in the company, valued at approximately $9,040,658.94. This represents a 18.96% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 8,704 shares of company stock valued at $6,617,748. Corporate insiders own 0.27% of the company’s stock.

About Equinix

Equinix, Inc is a global provider of digital infrastructure and interconnection services, specializing in carrier-neutral data centers and colocation. The company operates a platform that enables enterprises, cloud and network service providers, and content companies to colocate IT infrastructure, interconnect directly with partners and providers, and access cloud on-ramps and network services in a secure, low-latency environment.

Equinix’s offerings include traditional colocation space and power, cross-connects and meet-me rooms, and a suite of connectivity and on-demand services designed for hybrid multicloud architectures.