Biltmore Wealth Management LLC bought a new stake in shares of Equinix Inc (NASDAQ:EQIX) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 1,286 shares of the financial services provider’s stock, valued at approximately $583,000. Equinix comprises about 0.3% of Biltmore Wealth Management LLC’s investment portfolio, making the stock its 20th largest holding.
Several other large investors also recently bought and sold shares of EQIX. Farmers & Merchants Investments Inc. lifted its holdings in Equinix by 174.2% during the fourth quarter. Farmers & Merchants Investments Inc. now owns 85 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 54 shares in the last quarter. Rehmann Capital Advisory Group lifted its holdings in shares of Equinix by 158.8% in the third quarter. Rehmann Capital Advisory Group now owns 88 shares of the financial services provider’s stock worth $38,000 after buying an additional 54 shares in the last quarter. Pearl River Capital LLC purchased a new position in shares of Equinix in the fourth quarter worth $35,000. Proficio Capital Partners LLC lifted its holdings in shares of Equinix by 116.7% in the fourth quarter. Proficio Capital Partners LLC now owns 117 shares of the financial services provider’s stock worth $41,000 after buying an additional 63 shares in the last quarter. Finally, Lindbrook Capital LLC purchased a new position in shares of Equinix in the fourth quarter worth $47,000. 99.06% of the stock is owned by hedge funds and other institutional investors.
Shares of Equinix stock opened at $463.38 on Monday. The company has a market capitalization of $37.25 billion, a P/E ratio of 22.40, a P/E/G ratio of 1.63 and a beta of 0.91. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 1.51. Equinix Inc has a 52 week low of $335.29 and a 52 week high of $467.99.
Equinix (NASDAQ:EQIX) last announced its quarterly earnings data on Wednesday, February 13th. The financial services provider reported $1.36 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $4.46 by ($3.10). Equinix had a net margin of 7.20% and a return on equity of 6.88%. The company had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same period in the previous year, the business earned $0.82 earnings per share. The business’s revenue for the quarter was up 9.2% compared to the same quarter last year. Analysts expect that Equinix Inc will post 20.89 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, February 27th were issued a $2.46 dividend. This represents a $9.84 annualized dividend and a yield of 2.12%. The ex-dividend date was Tuesday, February 26th. This is an increase from Equinix’s previous quarterly dividend of $2.28. Equinix’s dividend payout ratio is 47.56%.
Several research firms have recently commented on EQIX. Zacks Investment Research raised shares of Equinix from a “hold” rating to a “strong-buy” rating and set a $484.00 target price on the stock in a report on Monday, February 18th. Wells Fargo & Co boosted their target price on shares of Equinix from $475.00 to $500.00 and gave the stock an “outperform” rating in a report on Wednesday, March 27th. Nomura boosted their price target on shares of Equinix from $480.00 to $500.00 and gave the stock a “buy” rating in a research report on Friday, March 29th. BidaskClub upgraded shares of Equinix from a “hold” rating to a “buy” rating in a research report on Tuesday, December 18th. Finally, Citigroup boosted their price target on shares of Equinix from $481.00 to $482.00 and gave the stock a “buy” rating in a research report on Friday, March 1st. One analyst has rated the stock with a sell rating, one has issued a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company. Equinix has a consensus rating of “Buy” and an average target price of $495.29.
In other news, CEO Charles J. Meyers sold 3,383 shares of Equinix stock in a transaction on Tuesday, February 19th. The stock was sold at an average price of $425.92, for a total transaction of $1,440,887.36. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Charles J. Meyers sold 5,648 shares of Equinix stock in a transaction on Wednesday, January 16th. The stock was sold at an average price of $380.97, for a total value of $2,151,718.56. Following the transaction, the chief executive officer now owns 5,750 shares in the company, valued at approximately $2,190,577.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,263 shares of company stock worth $11,593,833. 0.51% of the stock is owned by corporate insiders.
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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