CapWealth Advisors LLC Sells 134 Shares of Equinix, Inc. (NASDAQ:EQIX)

CapWealth Advisors LLC cut its stake in Equinix, Inc. (NASDAQ:EQIX) by 0.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,267 shares of the financial services provider’s stock after selling 134 shares during the period. Equinix accounts for about 2.2% of CapWealth Advisors LLC’s investment portfolio, making the stock its 19th biggest position. CapWealth Advisors LLC’s holdings in Equinix were worth $17,934,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of EQIX. Sequoia Financial Advisors LLC raised its stake in shares of Equinix by 15.5% in the first quarter. Sequoia Financial Advisors LLC now owns 687 shares of the financial services provider’s stock worth $509,000 after acquiring an additional 92 shares during the last quarter. Baird Financial Group Inc. raised its stake in shares of Equinix by 5.3% during the first quarter. Baird Financial Group Inc. now owns 1,169 shares of the financial services provider’s stock worth $867,000 after buying an additional 59 shares during the last quarter. Brown Brothers Harriman & Co. raised its stake in shares of Equinix by 182.8% during the first quarter. Brown Brothers Harriman & Co. now owns 263 shares of the financial services provider’s stock worth $195,000 after buying an additional 170 shares during the last quarter. Parkside Financial Bank & Trust raised its stake in shares of Equinix by 10.3% during the first quarter. Parkside Financial Bank & Trust now owns 171 shares of the financial services provider’s stock worth $127,000 after buying an additional 16 shares during the last quarter. Finally, Covestor Ltd raised its stake in shares of Equinix by 300.0% during the first quarter. Covestor Ltd now owns 172 shares of the financial services provider’s stock worth $128,000 after buying an additional 129 shares during the last quarter. 94.94% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Charles J. Meyers sold 2,110 shares of the stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $832.69, for a total value of $1,756,975.90. Following the transaction, the chief executive officer now directly owns 10,115 shares of the company’s stock, valued at $8,422,659.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Chairman Camp Peter Van sold 122 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $831.12, for a total transaction of $101,396.64. Following the transaction, the chairman now directly owns 7,968 shares of the company’s stock, valued at $6,622,364.16. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Charles J. Meyers sold 2,110 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $832.69, for a total transaction of $1,756,975.90. Following the transaction, the chief executive officer now directly owns 10,115 shares in the company, valued at $8,422,659.35. The disclosure for this sale can be found here. Insiders have sold 4,585 shares of company stock valued at $3,818,268 over the last ninety days. 0.32% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on EQIX. Oppenheimer upped their price target on shares of Equinix from $875.00 to $950.00 and gave the company an “outperform” rating in a report on Wednesday, March 20th. Wells Fargo & Company upped their price target on shares of Equinix from $800.00 to $825.00 and gave the company an “equal weight” rating in a report on Thursday, February 15th. Morgan Stanley reduced their target price on shares of Equinix from $767.00 to $762.00 and set an “equal weight” rating for the company in a report on Thursday, March 28th. BMO Capital Markets increased their target price on shares of Equinix from $910.00 to $925.00 and gave the stock an “outperform” rating in a report on Thursday, February 15th. Finally, Truist Financial increased their target price on shares of Equinix from $915.00 to $950.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Seven investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $862.50.

Equinix Stock Performance

Shares of EQIX traded up $9.38 during trading hours on Thursday, hitting $743.94. The company had a trading volume of 130,888 shares, compared to its average volume of 554,438. The firm has a market cap of $70.39 billion, a price-to-earnings ratio of 71.25, a PEG ratio of 1.92 and a beta of 0.58. The business has a fifty day moving average of $838.03 and a 200-day moving average of $801.76. Equinix, Inc. has a 12 month low of $672.88 and a 12 month high of $914.93. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.19.

Equinix Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Stockholders of record on Wednesday, February 28th were given a $4.26 dividend. This represents a $17.04 annualized dividend and a dividend yield of 2.29%. The ex-dividend date of this dividend was Tuesday, February 27th. Equinix’s payout ratio is presently 165.28%.

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.