Mercer Global Advisors Inc. ADV has increased its holdings of Equinix, Inc. (NASDAQ:EQIX) by 7.7% according to the company’s most recent Form 13F filing with the SEC on May 17, 2023. The financial services provider now owns over $1.5 million worth of Equinix stock, representing an additional purchase of 174 shares in the fourth quarter.
Equinix’s quarterly dividend announcement is set for June 21st and will be paid out to investors on a record as of May 24th. Investors will receive a dividend payout of $3.41 per share, equating to an annualized dividend of $13.64 and a yield of 1.90%. The ex-dividend date is May 23rd. However, Equinix’s current dividend payout ratio stands at an astonishingly high percentage rate of 154.47%.
On March 2nd, CEO Charles J Meyers sold a total of 289 shares at an average price of $665.33 for a total value of $192,280.37 thus leaving him with holdings under his name in the company amounting to over $10 million dollars with a value calculated at $10,033,841 even after the sale – disclosed in Securities & Exchange Commission documentation.
Additionally, Multi-director ownership sales were filed by Chief Accounting Officer Simon Miller; he sold his personal equity amounting to almost half that sold by CEO Charles Meyers on March 2nd with an average transaction price touching roughly around $671- cash settlement was made for the received value totaling up to approximately just above the quarter-million mark.
Over the past three months since February this year -19,899 shares have been auctioned off by insiders accumulating over twenty-three times their net worth equaling up to over fourteen million dollars within that period; however this comprises only insignificant or sub-1% of the company’s total outstanding sum. The SEC filings are available online for public access.
The rise in Equinix’s share value has caught the attention of many financial players over the years, and its now $1.5 million worth in holdings by Mercer Global Advisors Inc. ADV will ensure a stronger position for its clients if the value continues to climb, as all eyes remain fixed on Equinix’s movement in Q2 and beyond.
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Equinix Inc. (NASDAQ:EQIX) Sees Surge in Institutional Investor Ownership and Bullish Reports Despite Missed Earnings Estimate
Equinix, Inc. (NASDAQ:EQIX) has been turning heads for its stock’s soaring value in recent quarters. Institutional investors in particular have significantly increased their stake in the financial services provider’s shares, with Raymond James Financial Services Advisors and FORA Capital LLC gaining over 700% by buying and selling Equinix stock. The company’s 92.80% institutional investor ownership has sparked interest among analysts as well.
Equinix has also been the focus of several bullish research reports, including one from BMO Capital Markets that raised the stock from a “market perform” rating to an “outperform” rating, boosting its target price from $755.00 to $785.00 in the process. Credit Suisse Group and Deutsche Bank Aktiengesellschaft also made similar moves, raising their price targets on Equinix to $768.00 and $760.00 respectively.
Despite this promising news, Equinix missed its consensus earnings estimate in its most recent quarterly earnings report on May 3rd, reporting EPS of $2.77 compared to an estimate of $7.00 per share. However, the company still posted strong revenue figures of $2 billion for the quarter, up 15.2% YoY.
Investors who own shares of EQIX will receive a quarterly dividend payment of $3.41 per share on June 21st if they were recorded on or before May 24th.
The company’s stock currently trades at just over $700 per share, with a market cap of nearly $67 billion and a high P/E ratio of over 81%. Despite these heady metrics, some analysts still see opportunity in investing in Equinix due to the growing demand for data center infrastructure around the world.
Overall, Equinix remains a highly intriguing prospect for investors looking to gain exposure to data center infrastructure and all related technologies – especially as economies grow increasingly digital.
