Icon Wealth Advisors LLC Grows Stake in Equinix, Inc. (NASDAQ:EQIX)

Icon Wealth Advisors LLC raised its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 710.8% during the third quarter, HoldingsChannel reports. The fund owned 1,281 shares of the financial services provider’s stock after acquiring an additional 1,123 shares during the quarter. Icon Wealth Advisors LLC’s holdings in Equinix were worth $1,137,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Principal Financial Group Inc. grew its stake in Equinix by 0.3% in the 3rd quarter. Principal Financial Group Inc. now owns 1,894,101 shares of the financial services provider’s stock worth $1,681,256,000 after acquiring an additional 5,910 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Equinix by 3.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,391,567 shares of the financial services provider’s stock worth $1,148,504,000 after buying an additional 47,795 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Equinix by 1.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,333,992 shares of the financial services provider’s stock worth $1,009,293,000 after purchasing an additional 19,844 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Equinix by 5.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,134,171 shares of the financial services provider’s stock valued at $1,006,724,000 after buying an additional 53,729 shares during the last quarter. Finally, Clearbridge Investments LLC boosted its stake in Equinix by 21.5% in the second quarter. Clearbridge Investments LLC now owns 902,493 shares of the financial services provider’s stock valued at $682,826,000 after acquiring an additional 159,576 shares in the last quarter. Institutional investors own 94.94% of the company’s stock.

Equinix Stock Up 1.4 %

NASDAQ EQIX opened at $936.37 on Friday. The business has a fifty day moving average price of $891.74 and a 200 day moving average price of $824.67. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.16 and a current ratio of 1.16. The company has a market cap of $90.35 billion, a P/E ratio of 84.43, a P/E/G ratio of 2.38 and a beta of 0.71. Equinix, Inc. has a one year low of $684.14 and a one year high of $943.02.

Equinix Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Wednesday, November 13th will be paid a $4.26 dividend. This represents a $17.04 annualized dividend and a dividend yield of 1.82%. The ex-dividend date of this dividend is Wednesday, November 13th. Equinix’s dividend payout ratio is currently 153.65%.

Insider Transactions at Equinix

In other Equinix news, EVP Jonathan Lin sold 93 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $820.99, for a total value of $76,352.07. Following the completion of the sale, the executive vice president now directly owns 7,141 shares in the company, valued at $5,862,689.59. This represents a 1.29 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Christopher B. Paisley sold 100 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $891.00, for a total value of $89,100.00. Following the completion of the sale, the director now directly owns 17,794 shares of the company’s stock, valued at $15,854,454. This trade represents a 0.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,754 shares of company stock valued at $11,666,756. Corporate insiders own 0.27% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on EQIX shares. JPMorgan Chase & Co. increased their price objective on shares of Equinix from $950.00 to $975.00 and gave the company an “overweight” rating in a research report on Tuesday, October 1st. Barclays raised their target price on Equinix from $810.00 to $822.00 and gave the stock an “equal weight” rating in a report on Monday, November 18th. Evercore ISI upped their price objective on shares of Equinix from $945.00 to $975.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. BMO Capital Markets increased their target price on shares of Equinix from $975.00 to $1,020.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Equinix from $880.00 to $910.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th. Five equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $952.88.

About Equinix

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.