ICA Group Wealth Management LLC Invests $81,000 in Equinix, Inc. (NASDAQ:EQIX)

ICA Group Wealth Management LLC acquired a new position in shares of Equinix, Inc. (NASDAQ:EQIX) in the fourth quarter, Holdings Channel.com reports. The fund acquired 100 shares of the financial services provider’s stock, valued at approximately $81,000.

A number of other hedge funds also recently made changes to their positions in EQIX. Goelzer Investment Management Inc. raised its holdings in Equinix by 0.3% during the 4th quarter. Goelzer Investment Management Inc. now owns 4,177 shares of the financial services provider’s stock valued at $3,364,000 after buying an additional 13 shares during the last quarter. Sage Mountain Advisors LLC boosted its holdings in shares of Equinix by 3.9% during the fourth quarter. Sage Mountain Advisors LLC now owns 377 shares of the financial services provider’s stock worth $304,000 after purchasing an additional 14 shares during the period. Legacy Advisors LLC grew its stake in shares of Equinix by 1.6% in the third quarter. Legacy Advisors LLC now owns 935 shares of the financial services provider’s stock worth $679,000 after purchasing an additional 15 shares during the last quarter. Ieq Capital LLC grew its stake in shares of Equinix by 0.5% in the fourth quarter. Ieq Capital LLC now owns 2,923 shares of the financial services provider’s stock worth $2,354,000 after purchasing an additional 15 shares during the last quarter. Finally, First Affirmative Financial Network grew its stake in shares of Equinix by 2.9% in the fourth quarter. First Affirmative Financial Network now owns 577 shares of the financial services provider’s stock worth $465,000 after purchasing an additional 16 shares during the last quarter. 94.94% of the stock is owned by institutional investors.

Equinix Price Performance

EQIX stock opened at $773.84 on Wednesday. The firm has a 50 day moving average price of $755.34 and a 200-day moving average price of $803.11. Equinix, Inc. has a 52-week low of $677.80 and a 52-week high of $914.93. The firm has a market capitalization of $73.45 billion, a price-to-earnings ratio of 77.62, a PEG ratio of 2.67 and a beta of 0.68. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.10 and a current ratio of 1.10.

Equinix Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 19th. Stockholders of record on Wednesday, May 22nd will be issued a dividend of $4.26 per share. The ex-dividend date is Tuesday, May 21st. This represents a $17.04 annualized dividend and a dividend yield of 2.20%. Equinix’s payout ratio is 170.91%.

Insider Activity

In other news, Director Christopher B. Paisley sold 100 shares of Equinix stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $812.98, for a total transaction of $81,298.00. Following the completion of the transaction, the director now directly owns 17,641 shares in the company, valued at $14,341,780.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Christopher B. Paisley sold 100 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $812.98, for a total value of $81,298.00. Following the completion of the transaction, the director now directly owns 17,641 shares in the company, valued at approximately $14,341,780.18. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Brandi Galvin Morandi sold 2,070 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $800.50, for a total transaction of $1,657,035.00. Following the completion of the transaction, the insider now owns 12,758 shares of the company’s stock, valued at $10,212,779. The disclosure for this sale can be found here. Company insiders own 0.27% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on EQIX shares. TD Cowen cut their target price on Equinix from $862.00 to $859.00 and set a “buy” rating on the stock in a research note on Friday, May 10th. Royal Bank of Canada cut their target price on Equinix from $950.00 to $922.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 28th. Morgan Stanley cut their target price on Equinix from $767.00 to $762.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 28th. Stifel Nicolaus reissued a “buy” rating and issued a $960.00 target price on shares of Equinix in a research note on Wednesday, March 13th. Finally, Barclays raised their target price on Equinix from $669.00 to $671.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 30th. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $872.81.

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.