M&T Bank Corp Has $21.04 Million Stock Position in Equinix, Inc. (NASDAQ:EQIX)

M&T Bank Corp lessened its stake in Equinix, Inc. (NASDAQ:EQIX) by 3.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 26,127 shares of the financial services provider’s stock after selling 989 shares during the quarter. M&T Bank Corp’s holdings in Equinix were worth $21,041,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in EQIX. Commonwealth Equity Services LLC increased its stake in shares of Equinix by 9.1% during the 3rd quarter. Commonwealth Equity Services LLC now owns 4,999 shares of the financial services provider’s stock worth $3,631,000 after purchasing an additional 415 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Equinix by 5.1% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 4,129 shares of the financial services provider’s stock worth $2,999,000 after acquiring an additional 201 shares during the period. FinTrust Capital Advisors LLC increased its holdings in shares of Equinix by 300.0% during the 3rd quarter. FinTrust Capital Advisors LLC now owns 64 shares of the financial services provider’s stock worth $46,000 after acquiring an additional 48 shares during the last quarter. Stratos Wealth Partners LTD. raised its stake in Equinix by 3.6% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 3,761 shares of the financial services provider’s stock valued at $2,732,000 after acquiring an additional 132 shares during the period. Finally, NorthRock Partners LLC lifted its holdings in Equinix by 23.3% during the 3rd quarter. NorthRock Partners LLC now owns 407 shares of the financial services provider’s stock valued at $296,000 after purchasing an additional 77 shares during the last quarter. 94.94% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

EQIX has been the topic of several research reports. Stifel Nicolaus reiterated a “buy” rating and issued a $960.00 price objective on shares of Equinix in a report on Wednesday, March 13th. HSBC cut Equinix from a “buy” rating to a “hold” rating and set a $900.00 price objective for the company. in a report on Wednesday, March 20th. Royal Bank of Canada lifted their price target on Equinix from $855.00 to $950.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. Truist Financial upped their price objective on Equinix from $915.00 to $950.00 and gave the company a “buy” rating in a report on Monday, March 18th. Finally, Barclays dropped their target price on Equinix from $818.00 to $669.00 and set an “equal weight” rating for the company in a report on Wednesday, April 17th. Seven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Equinix has a consensus rating of “Moderate Buy” and a consensus target price of $862.50.

Equinix Price Performance

Shares of Equinix stock traded up $1.48 during midday trading on Friday, hitting $700.18. 762,548 shares of the company traded hands, compared to its average volume of 698,429. The firm’s fifty day moving average price is $807.36 and its 200-day moving average price is $801.23. The stock has a market cap of $66.25 billion, a price-to-earnings ratio of 67.91, a PEG ratio of 1.80 and a beta of 0.62. Equinix, Inc. has a 12 month low of $672.88 and a 12 month high of $914.93. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.13 and a current ratio of 1.13.

Equinix Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, February 28th were given a dividend of $4.26 per share. The ex-dividend date was Tuesday, February 27th. This represents a $17.04 dividend on an annualized basis and a yield of 2.43%. Equinix’s dividend payout ratio is currently 165.28%.

Insiders Place Their Bets

In other news, Chairman Camp Peter Van sold 122 shares of Equinix stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $831.12, for a total transaction of $101,396.64. Following the sale, the chairman now directly owns 7,968 shares of the company’s stock, valued at $6,622,364.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Charles J. Meyers sold 2,110 shares of the firm’s stock in a transaction on 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 completion of the transaction, the chief executive officer now directly owns 10,115 shares of the company’s stock, valued at approximately $8,422,659.35. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Camp Peter Van sold 122 shares of the stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $831.12, for a total value of $101,396.64. Following the completion of the sale, the chairman now directly owns 7,968 shares of the company’s stock, valued at approximately $6,622,364.16. The disclosure for this sale can be found here. Insiders sold a total of 4,585 shares of company stock valued at $3,818,268 in the last 90 days. Corporate insiders own 0.27% of the company’s stock.

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.