Marcum Wealth LLC Increases Stake in Equinix, Inc. (NASDAQ:EQIX)

Marcum Wealth LLC increased its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 5.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 694 shares of the financial services provider’s stock after purchasing an additional 36 shares during the quarter. Marcum Wealth LLC’s holdings in Equinix were worth $654,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in EQIX. GHP Investment Advisors Inc. lifted its position in shares of Equinix by 50.0% during the third quarter. GHP Investment Advisors Inc. now owns 39 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 13 shares during the last quarter. Fortitude Family Office LLC lifted its holdings in Equinix by 50.0% during the 3rd quarter. Fortitude Family Office LLC now owns 39 shares of the financial services provider’s stock valued at $35,000 after buying an additional 13 shares in the last quarter. Sugarloaf Wealth Management LLC boosted its position in Equinix by 100.0% in the 3rd quarter. Sugarloaf Wealth Management LLC now owns 40 shares of the financial services provider’s stock valued at $36,000 after buying an additional 20 shares during the period. Meeder Asset Management Inc. bought a new position in Equinix in the 2nd quarter worth about $36,000. Finally, Dunhill Financial LLC raised its stake in shares of Equinix by 108.7% during the third quarter. Dunhill Financial LLC now owns 48 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 25 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on EQIX. Royal Bank of Canada raised their price objective on Equinix from $936.00 to $1,025.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. JPMorgan Chase & Co. increased their target price on shares of Equinix from $950.00 to $975.00 and gave the stock an “overweight” rating in a report on Tuesday, October 1st. BMO Capital Markets upped their price target on shares of Equinix from $975.00 to $1,020.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Evercore ISI boosted their price objective on shares of Equinix from $945.00 to $975.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Finally, Cfra reaffirmed a “hold” rating on shares of Equinix in a research report on Tuesday, September 24th. Three equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $976.81.

Insiders Place Their Bets

In related news, CEO Adaire Fox-Martin sold 2,965 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $961.62, for a total value of $2,851,203.30. Following the transaction, the chief executive officer now owns 3,069 shares in the company, valued at approximately $2,951,211.78. This represents a 49.14 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Raouf Abdel sold 1,022 shares of Equinix stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $923.56, for a total transaction of $943,878.32. Following the sale, the executive vice president now owns 4,893 shares of the company’s stock, valued at approximately $4,518,979.08. The trade was a 17.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 8,398 shares of company stock valued at $7,906,218. Insiders own 0.27% of the company’s stock.

Equinix Price Performance

Shares of EQIX stock opened at $899.65 on Tuesday. Equinix, Inc. has a fifty-two week low of $684.14 and a fifty-two week high of $994.03. 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 firm has a market capitalization of $86.81 billion, a price-to-earnings ratio of 81.12, a PEG ratio of 2.48 and a beta of 0.73. The stock’s 50-day simple moving average is $941.55 and its 200-day simple moving average is $873.29.

Equinix Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 11th. Shareholders of record on Wednesday, November 13th were paid a dividend of $4.26 per share. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $17.04 dividend on an annualized basis and a yield of 1.89%. Equinix’s payout ratio is 153.65%.

Equinix Company 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.