250 Shares in Equinix, Inc. (NASDAQ:EQIX) Purchased by Pinnacle Wealth Management Advisory Group LLC

Pinnacle Wealth Management Advisory Group LLC bought a new stake in Equinix, Inc. (NASDAQ:EQIX) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm bought 250 shares of the financial services provider’s stock, valued at approximately $201,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in EQIX. Valley National Advisers Inc. lifted its stake in shares of Equinix by 260.0% in the 4th quarter. Valley National Advisers Inc. now owns 36 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 26 shares during the last quarter. Providence Capital Advisors LLC acquired a new position in Equinix in the third quarter valued at $29,000. Criterion Capital Advisors LLC acquired a new position in Equinix in the fourth quarter valued at $32,000. Operose Advisors LLC bought a new stake in Equinix during the third quarter valued at $36,000. Finally, Asset Dedication LLC raised its position in shares of Equinix by 92.6% in the 3rd quarter. Asset Dedication LLC now owns 52 shares of the financial services provider’s stock worth $37,000 after acquiring an additional 25 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Equinix Stock Up 11.5 %

EQIX opened at $772.43 on Friday. The business’s fifty day simple moving average is $796.48 and its 200 day simple moving average is $801.33. The stock has a market cap of $73.09 billion, a PE ratio of 74.92, a P/E/G ratio of 1.81 and a beta of 0.62. Equinix, Inc. has a 52 week low of $672.88 and a 52 week high of $914.93. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.19.

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 given a $4.26 dividend. This represents a $17.04 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date is Tuesday, May 21st. Equinix’s payout ratio is presently 165.28%.

Insider Transactions at Equinix

In related news, insider Brandi Galvin Morandi sold 729 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $832.84, for a total transaction of $607,140.36. Following the transaction, the insider now directly owns 14,002 shares in the company, valued at approximately $11,661,425.68. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, Chairman Camp Peter Van sold 122 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $831.12, for a total value of $101,396.64. Following the sale, the chairman now directly owns 7,968 shares of the company’s stock, valued at $6,622,364.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Brandi Galvin Morandi sold 729 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $832.84, for a total value of $607,140.36. Following the transaction, the insider now directly owns 14,002 shares of the company’s stock, valued at approximately $11,661,425.68. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,585 shares of company stock worth $3,818,268. Company insiders own 0.27% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Royal Bank of Canada increased their price target on Equinix from $855.00 to $950.00 and gave the stock an “outperform” rating in a report on Thursday, February 29th. Barclays decreased their price objective on Equinix from $818.00 to $669.00 and set an “equal weight” rating for the company in a report on Wednesday, April 17th. Stifel Nicolaus restated a “buy” rating and set a $960.00 price target on shares of Equinix in a research note on Wednesday, March 13th. Wells Fargo & Company lifted their price objective on shares of Equinix from $800.00 to $825.00 and gave the company an “equal weight” rating in a report on Thursday, February 15th. Finally, Truist Financial upped their target price on shares of Equinix from $915.00 to $950.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Seven equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $870.44.

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.