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JPMorgan Chase & Co. Purchases 588,967 Shares of Equinix, Inc. $EQIX
JPMorgan Chase & Co. increased its stake in Equinix (NASDAQ:EQIX) by 25.8% in Q3, purchasing 588,967 shares to own a total of 2,875,355 shares valued at $2.252 billion. This move comes despite Equinix missing quarterly earnings estimates, reporting an EPS of $8.91 against an expected $9.07 and revenue of $2.42 billion versus $2.46 billion. The company has also raised its quarterly dividend to $5.16, though its dividend payout ratio remains high at 136.44%.