Charles Schwab Investment Management Inc. Lowers Stock Holdings in Equinix, Inc. (NASDAQ:EQIX)

Charles Schwab Investment Management Inc. decreased its position in shares of Equinix, Inc. (NASDAQ:EQIX) by 3.2% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 939,070 shares of the financial services provider’s stock after selling 30,844 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.00% of Equinix worth $736,175,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Nelson Van Denburg & Campbell Wealth Management Group LLC grew its stake in shares of Equinix by 65.2% during the second quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 38 shares of the financial services provider’s stock valued at $30,000 after buying an additional 15 shares during the last quarter. Venturi Wealth Management LLC bought a new stake in shares of Equinix in the first quarter worth about $28,000. Larson Financial Group LLC grew its stake in shares of Equinix by 485.7% in the second quarter. Larson Financial Group LLC now owns 41 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 34 shares during the last quarter. Quarry LP grew its stake in shares of Equinix by 237.5% in the first quarter. Quarry LP now owns 54 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 38 shares during the last quarter. Finally, DT Investment Partners LLC grew its stake in shares of Equinix by 540.0% in the first quarter. DT Investment Partners LLC now owns 64 shares of the financial services provider’s stock worth $46,000 after purchasing an additional 54 shares during the last quarter. 93.16% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on EQIX shares. Raymond James raised their target price on Equinix from $885.00 to $910.00 and gave the stock a “strong-buy” rating in a research note on Thursday, August 3rd. Wells Fargo & Company cut their target price on Equinix from $810.00 to $740.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 26th. Deutsche Bank Aktiengesellschaft raised their target price on Equinix from $780.00 to $825.00 and gave the stock a “buy” rating in a research note on Tuesday, August 15th. TheStreet cut Equinix from a “b-” rating to a “c+” rating in a research report on Friday, October 20th. Finally, JPMorgan Chase & Co. lifted their price objective on Equinix from $825.00 to $900.00 in a research report on Friday, August 4th. Eight 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 company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $824.10.

Equinix Price Performance

EQIX stock opened at $786.03 on Wednesday. The firm has a 50 day moving average price of $740.91 and a 200-day moving average price of $755.53. Equinix, Inc. has a 52-week low of $632.45 and a 52-week high of $821.63. The firm has a market capitalization of $73.79 billion, a price-to-earnings ratio of 84.52, a PEG ratio of 1.49 and a beta of 0.62. The company has a debt-to-equity ratio of 1.32, a quick ratio of 2.05 and a current ratio of 2.05.

Equinix Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 13th. Stockholders of record on Wednesday, November 15th will be issued a dividend of $4.26 per share. This represents a $17.04 annualized dividend and a dividend yield of 2.17%. This is a positive change from Equinix’s previous quarterly dividend of $3.41. The ex-dividend date of this dividend is Tuesday, November 14th. Equinix’s dividend payout ratio (DPR) is presently 146.67%.

Insider Activity

In related news, CFO Keith D. Taylor sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $790.41, for a total value of $1,580,820.00. Following the completion of the transaction, the chief financial officer now directly owns 20,177 shares in the company, valued at approximately $15,948,102.57. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Brandi Galvin Morandi sold 3,788 shares of the business’s stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $714.74, for a total value of $2,707,435.12. Following the completion of the transaction, the insider now directly owns 11,495 shares in the company, valued at approximately $8,215,936.30. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Keith D. Taylor sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $790.41, for a total transaction of $1,580,820.00. Following the completion of the transaction, the chief financial officer now owns 20,177 shares of the company’s stock, valued at $15,948,102.57. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,622 shares of company stock worth $5,705,011. Insiders own 0.32% of the company’s stock.

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.