Quadcap Wealth Management LLC Buys Shares of 1,912 Garmin Ltd. (NYSE:GRMN)

Quadcap Wealth Management LLC bought a new position in shares of Garmin Ltd. (NYSE:GRMN - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,912 shares of the scientific and technical instruments company's stock, valued at approximately $394,000.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Garmin by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 18,067,708 shares of the scientific and technical instruments company's stock worth $3,726,645,000 after acquiring an additional 215,344 shares during the period. Geode Capital Management LLC increased its stake in shares of Garmin by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 4,438,796 shares of the scientific and technical instruments company's stock worth $913,544,000 after acquiring an additional 75,332 shares during the period. Norges Bank acquired a new stake in shares of Garmin in the fourth quarter worth $396,184,000. Invesco Ltd. increased its stake in shares of Garmin by 9.6% in the fourth quarter. Invesco Ltd. now owns 1,708,886 shares of the scientific and technical instruments company's stock worth $352,475,000 after acquiring an additional 149,210 shares during the period. Finally, Northern Trust Corp increased its stake in shares of Garmin by 20.2% in the fourth quarter. Northern Trust Corp now owns 1,708,495 shares of the scientific and technical instruments company's stock worth $352,394,000 after acquiring an additional 286,765 shares during the period. Hedge funds and other institutional investors own 81.60% of the company's stock.

Garmin Stock Down 0.6%

GRMN stock traded down $1.21 during midday trading on Tuesday, hitting $203.69. The company's stock had a trading volume of 714,039 shares, compared to its average volume of 881,051. The firm has a 50-day simple moving average of $198.19 and a 200-day simple moving average of $208.64. The firm has a market capitalization of $39.22 billion, a P/E ratio of 27.86, a PEG ratio of 1.36 and a beta of 0.99. Garmin Ltd. has a 52-week low of $158.38 and a 52-week high of $246.50.

Garmin (NYSE:GRMN - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The scientific and technical instruments company reported $1.61 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.62 by ($0.01). The company had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.50 billion. Garmin had a net margin of 22.42% and a return on equity of 19.31%. Garmin's revenue for the quarter was up 11.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.42 EPS. On average, sell-side analysts expect that Garmin Ltd. will post 7.8 earnings per share for the current fiscal year.

Garmin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be paid a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 1.77%. The ex-dividend date of this dividend is Friday, March 13th. Garmin's payout ratio is 47.37%.

Insider Buying and Selling

In other news, CEO Clifton A. Pemble sold 7,202 shares of the business's stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $227.14, for a total value of $1,635,862.28. Following the transaction, the chief executive officer now owns 149,525 shares of the company's stock, valued at approximately $33,963,108.50. The trade was a 4.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Susan Lyman sold 2,829 shares of the business's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $215.51, for a total value of $609,677.79. Following the completion of the transaction, the vice president now directly owns 8,432 shares in the company, valued at approximately $1,817,180.32. The trade was a 25.12% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,342 shares of company stock worth $5,486,094 over the last 90 days. 15.38% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on GRMN shares. JPMorgan Chase & Co. cut their price objective on shares of Garmin from $220.00 to $215.00 and set a "neutral" rating on the stock in a research note on Thursday, May 1st. Tigress Financial raised their price target on shares of Garmin from $265.00 to $285.00 and gave the company a "strong-buy" rating in a research report on Wednesday, February 26th. Barclays dropped their price target on shares of Garmin from $188.00 to $152.00 and set an "underweight" rating on the stock in a research report on Wednesday, April 30th. Finally, Morgan Stanley raised their price target on shares of Garmin from $159.00 to $172.00 and gave the company an "underweight" rating in a research report on Thursday, May 1st. Three analysts have rated the stock with a sell rating, two have given a hold rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Garmin has an average rating of "Hold" and an average price target of $194.80.

Garmin Company Profile

Garmin Ltd. designs, develops, manufactures, markets, and distributes a range of wireless devices worldwide. Its Fitness segment offers running and multi-sport watches; cycling products; smartwatch devices; scales and monitors; and fitness accessories. This segment also provides Garmin Connect and Garmin Connect Mobile, which are web and mobile platforms where users can track and analyze their fitness, activities and workouts, and wellness data; and Connect IQ, an application development platform.