Fiduciary Group LLC trimmed its holdings in Equinix Inc (NASDAQ:EQIX) by 1.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,944 shares of the financial services provider’s stock after selling 53 shares during the quarter. Fiduciary Group LLC’s holdings in Equinix were worth $1,989,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of the business. Meeder Asset Management Inc. purchased a new stake in shares of Equinix during the 2nd quarter worth approximately $26,000. Carroll Financial Associates Inc. raised its holdings in Equinix by 63.6% during the 2nd quarter. Carroll Financial Associates Inc. now owns 54 shares of the financial services provider’s stock valued at $27,000 after buying an additional 21 shares during the period. Meridian Wealth Management LLC purchased a new stake in Equinix during the 1st quarter valued at $28,000. Berman Capital Advisors LLC raised its holdings in Equinix by 44.9% during the 2nd quarter. Berman Capital Advisors LLC now owns 71 shares of the financial services provider’s stock valued at $35,000 after buying an additional 22 shares during the period. Finally, Focused Wealth Management Inc purchased a new stake in Equinix during the 2nd quarter valued at $39,000. Institutional investors and hedge funds own 95.48% of the company’s stock.
In other Equinix news, Director Camp Peter Van sold 3,191 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $549.78, for a total value of $1,754,347.98. Following the sale, the director now owns 4,024 shares in the company, valued at $2,212,314.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Brandi Galvin Morandi sold 2,960 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $516.44, for a total value of $1,528,662.40. Following the completion of the sale, the insider now owns 19,253 shares in the company, valued at approximately $9,943,019.32. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,786 shares of company stock worth $4,156,774. Insiders own 0.49% of the company’s stock.
Equinix (NASDAQ:EQIX) last released its earnings results on Wednesday, July 31st. The financial services provider reported $1.69 earnings per share for the quarter, missing analysts’ consensus estimates of $5.14 by ($3.45). Equinix had a return on equity of 6.29% and a net margin of 9.29%. The business had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.39 billion. During the same quarter in the previous year, the business earned $3.63 EPS. The business’s revenue for the quarter was up 9.8% on a year-over-year basis. As a group, analysts forecast that Equinix Inc will post 20.7 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 18th. Shareholders of record on Wednesday, August 21st will be paid a $2.46 dividend. The ex-dividend date is Tuesday, August 20th. This represents a $9.84 dividend on an annualized basis and a yield of 1.77%. Equinix’s payout ratio is 47.56%.
Several analysts recently weighed in on EQIX shares. Wells Fargo & Co increased their price target on Equinix from $500.00 to $545.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Raymond James increased their price target on Equinix from $520.00 to $560.00 and gave the company a “strong-buy” rating in a report on Thursday, August 1st. Guggenheim increased their price target on Equinix from $505.00 to $540.00 and gave the company a “sell” rating in a report on Tuesday, July 2nd. UBS Group increased their price target on Equinix from $510.00 to $560.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, BMO Capital Markets restated a “buy” rating and set a $520.00 price target on shares of Equinix in a report on Tuesday, July 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $527.21.
Equinix, Inc (Nasdaq: EQIX) connects the world's leading businesses to their customers, employees and partners inside the most-interconnected data centers. In 52 markets across five continents, Equinix is where companies come together to realize new opportunities and accelerate their business, IT and cloud strategies.
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