Moran Wealth Management LLC Takes $2.92 Million Position in Equinix, Inc. (NASDAQ:EQIX)

Moran Wealth Management LLC acquired a new position in shares of Equinix, Inc. (NASDAQ:EQIX) in the 4th quarter, Holdings Channel.com reports. The fund acquired 3,628 shares of the financial services provider’s stock, valued at approximately $2,922,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in EQIX. Principal Financial Group Inc. boosted its position in Equinix by 44.6% in the 3rd quarter. Principal Financial Group Inc. now owns 1,398,418 shares of the financial services provider’s stock valued at $1,015,610,000 after buying an additional 431,435 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of Equinix by 27.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 431,603 shares of the financial services provider’s stock valued at $313,461,000 after purchasing an additional 92,575 shares during the last quarter. Nordea Investment Management AB grew its position in Equinix by 277.7% during the 3rd quarter. Nordea Investment Management AB now owns 123,366 shares of the financial services provider’s stock worth $90,493,000 after purchasing an additional 90,705 shares during the period. PGGM Investments grew its position in Equinix by 54.0% during the 3rd quarter. PGGM Investments now owns 254,552 shares of the financial services provider’s stock worth $184,871,000 after purchasing an additional 89,274 shares during the period. Finally, J.P. Morgan Private Wealth Advisors LLC acquired a new stake in Equinix during the 3rd quarter worth about $48,940,000. 94.94% of the stock is owned by hedge funds and other institutional investors.

Equinix Stock Up 1.2 %

Equinix stock traded up $9.67 during midday trading on Tuesday, hitting $786.56. 384,479 shares of the stock were exchanged, compared to its average volume of 620,957. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.10 and a quick ratio of 1.10. The company has a 50 day moving average price of $791.29 and a two-hundred day moving average price of $803.06. Equinix, Inc. has a 1 year low of $672.88 and a 1 year high of $914.93. The firm has a market cap of $74.42 billion, a P/E ratio of 77.92, a P/E/G ratio of 1.95 and a beta of 0.62.

Equinix Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 19th. Investors of record on Wednesday, May 22nd will be issued a $4.26 dividend. The ex-dividend date of this dividend is Tuesday, May 21st. This represents a $17.04 dividend on an annualized basis and a dividend yield of 2.17%. Equinix’s payout ratio is currently 170.91%.

Analysts Set New Price Targets

A number of research firms have recently commented on EQIX. Stifel Nicolaus restated a “buy” rating and set a $960.00 target price on shares of Equinix in a research report on Wednesday, March 13th. BMO Capital Markets lifted their price objective on Equinix from $910.00 to $925.00 and gave the stock an “outperform” rating in a report on Thursday, February 15th. Royal Bank of Canada lifted their price objective on Equinix from $855.00 to $950.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. Wells Fargo & Company raised their target price on shares of Equinix from $800.00 to $825.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 15th. Finally, Oppenheimer boosted their target price on Equinix from $875.00 to $950.00 and gave the company an “outperform” rating in a research report on Wednesday, March 20th. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $869.76.

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.