Schwartz Investment Counsel Inc. Sells 72,975 Shares of Equinix, Inc. (NASDAQ:EQIX)

Schwartz Investment Counsel Inc. cut its stake in shares of Equinix, Inc. (NASDAQ:EQIX) by 99.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 405 shares of the financial services provider’s stock after selling 72,975 shares during the quarter. Schwartz Investment Counsel Inc.’s holdings in Equinix were worth $326,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Valley National Advisers Inc. boosted its position in shares of Equinix by 260.0% during the fourth quarter. Valley National Advisers Inc. now owns 36 shares of the financial services provider’s stock valued at $28,000 after buying an additional 26 shares during the last quarter. Providence Capital Advisors LLC purchased a new stake in shares of Equinix during the third quarter valued at $29,000. Operose Advisors LLC purchased a new stake in shares of Equinix during the third quarter valued at $36,000. Asset Dedication LLC boosted its position in shares of Equinix by 92.6% during the third quarter. Asset Dedication LLC now owns 52 shares of the financial services provider’s stock valued at $37,000 after buying an additional 25 shares during the last quarter. Finally, Quarry LP boosted its position in shares of Equinix by 237.5% during the first quarter. Quarry LP now owns 54 shares of the financial services provider’s stock valued at $39,000 after buying an additional 38 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on EQIX shares. Barclays dropped their price objective on Equinix from $788.00 to $781.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 15th. BMO Capital Markets increased their price objective on Equinix from $910.00 to $925.00 and gave the company an “outperform” rating in a research report on Thursday, February 15th. Morgan Stanley dropped their target price on Equinix from $767.00 to $762.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 28th. Truist Financial raised their target price on Equinix from $915.00 to $950.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. Finally, Royal Bank of Canada raised their target price on Equinix from $855.00 to $950.00 and gave the stock an “outperform” rating in a research report on Thursday, February 29th. Seven analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $868.72.

Equinix Stock Performance

Shares of EQIX stock traded up $3.41 during trading hours on Tuesday, reaching $791.60. 75,334 shares of the company traded hands, compared to its average volume of 551,277. 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 current ratio of 1.13 and a quick ratio of 1.13. The company has a market cap of $74.90 billion, a P/E ratio of 76.45, a P/E/G ratio of 1.87 and a beta of 0.58. The firm has a 50-day moving average price of $848.96 and a 200 day moving average price of $800.32.

Equinix Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 20th. Investors of record on Wednesday, February 28th were paid a dividend of $4.26 per share. This represents a $17.04 annualized dividend and a yield of 2.15%. The ex-dividend date was Tuesday, February 27th. Equinix’s dividend payout ratio (DPR) is presently 165.28%.

Insider Activity at Equinix

In related news, EVP Jonathan Lin sold 624 shares of Equinix stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $809.66, for a total transaction of $505,227.84. Following the sale, the executive vice president now owns 5,671 shares of the company’s stock, valued at approximately $4,591,581.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Jonathan Lin sold 624 shares of Equinix stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $809.66, for a total transaction of $505,227.84. Following the sale, the executive vice president now owns 5,671 shares of the company’s stock, valued at approximately $4,591,581.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Keith D. Taylor sold 3,280 shares of Equinix stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $800.66, for a total value of $2,626,164.80. Following the completion of the sale, the chief financial officer now directly owns 22,157 shares in the company, valued at approximately $17,740,223.62. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,282 shares of company stock valued at $14,788,771. 0.32% of the stock is owned by company insiders.

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.