HB Wealth Management LLC Grows Position in Equinix, Inc. (NASDAQ:EQIX)

HB Wealth Management LLC boosted its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 28.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,382 shares of the financial services provider’s stock after purchasing an additional 306 shares during the period. HB Wealth Management LLC’s holdings in Equinix were worth $1,046,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Equinix by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 12,503,989 shares of the financial services provider’s stock valued at $10,319,917,000 after acquiring an additional 238,815 shares during the period. Cohen & Steers Inc. lifted its stake in Equinix by 0.5% during the 4th quarter. Cohen & Steers Inc. now owns 2,591,270 shares of the financial services provider’s stock valued at $2,087,096,000 after acquiring an additional 13,988 shares during the period. Norges Bank acquired a new position in shares of Equinix in the 4th quarter valued at $1,574,132,000. Principal Financial Group Inc. lifted its stake in shares of Equinix by 14.9% in the 1st quarter. Principal Financial Group Inc. now owns 1,649,308 shares of the financial services provider’s stock valued at $1,361,224,000 after purchasing an additional 213,740 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Equinix by 3.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,391,567 shares of the financial services provider’s stock valued at $1,148,504,000 after purchasing an additional 47,795 shares during the period. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Equinix Price Performance

Shares of Equinix stock traded up $4.64 during trading hours on Thursday, reaching $818.34. 64,165 shares of the company’s stock were exchanged, compared to its average volume of 550,803. Equinix, Inc. has a 1 year low of $677.80 and a 1 year high of $914.93. The company has a market capitalization of $77.67 billion, a P/E ratio of 81.61, a price-to-earnings-growth ratio of 2.80 and a beta of 0.68. The business has a fifty day moving average of $789.69 and a two-hundred day moving average of $795.12. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.19.

Equinix (NASDAQ:EQIX) last released its earnings results on Wednesday, August 7th. The financial services provider reported $3.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $7.88 by ($4.72). Equinix had a return on equity of 7.73% and a net margin of 11.32%. The business had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.16 billion. During the same period in the previous year, the company earned $8.04 EPS. Equinix’s quarterly revenue was up 6.9% compared to the same quarter last year. As a group, research analysts predict that Equinix, Inc. will post 31.23 earnings per share for the current fiscal year.

Equinix Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 18th. Investors of record on Wednesday, August 21st will be issued a $4.26 dividend. This represents a $17.04 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date of this dividend is Wednesday, August 21st. Equinix’s dividend payout ratio is currently 170.91%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on EQIX shares. Wells Fargo & Company upgraded shares of Equinix from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $825.00 to $875.00 in a research note on Tuesday, July 23rd. Truist Financial boosted their target price on shares of Equinix from $915.00 to $935.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Royal Bank of Canada decreased their target price on shares of Equinix from $950.00 to $922.00 and set an “outperform” rating for the company in a research note on Tuesday, May 28th. Mizuho started coverage on shares of Equinix in a research note on Thursday, July 11th. They issued an “outperform” rating and a $873.00 target price for the company. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Equinix from $880.00 to $910.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $876.71.

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.