Advyzon Investment Management LLC Makes New Investment in Garmin Ltd. (NYSE:GRMN)

Key Points

• Advyzon Investment Management LLC has acquired a new stake in Garmin Ltd., purchasing 2,066 shares valued at approximately $448,000 during the first quarter.
• Analysts have set varying price targets for Garmin, with JPMorgan Chase & Co. raising their target to $250.00, indicating differing views on the company's performance.
• The company announced a quarterly dividend of $0.90, which represents an annual yield of 1.6% and a payout ratio of 44.39%.

Advyzon Investment Management LLC bought a new stake in shares of Garmin Ltd. (NYSE:GRMN - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 2,066 shares of the scientific and technical instruments company's stock, valued at approximately $448,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Aster Capital Management DIFC Ltd increased its holdings in Garmin by 864.3% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 135 shares of the scientific and technical instruments company's stock worth $28,000 after buying an additional 121 shares during the last quarter. TFC Financial Management Inc. raised its holdings in shares of Garmin by 1,633.3% during the 1st quarter. TFC Financial Management Inc. now owns 156 shares of the scientific and technical instruments company's stock valued at $34,000 after purchasing an additional 147 shares in the last quarter. Wayfinding Financial LLC acquired a new stake in shares of Garmin in the 1st quarter valued at $34,000. Garde Capital Inc. acquired a new stake in shares of Garmin in the 1st quarter valued at $40,000. Finally, Olde Wealth Management LLC bought a new stake in Garmin in the first quarter worth $43,000. Hedge funds and other institutional investors own 81.60% of the company's stock.

Insider Buying and Selling at Garmin

In other Garmin news, CFO Douglas G. Boessen sold 1,859 shares of the stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $215.00, for a total transaction of $399,685.00. Following the completion of the transaction, the chief financial officer owned 29,146 shares in the company, valued at approximately $6,266,390. This represents a 6.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Clifton A. Pemble sold 7,899 shares of the business's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $203.25, for a total transaction of $1,605,471.75. Following the completion of the sale, the chief executive officer directly owned 141,626 shares in the company, valued at approximately $28,785,484.50. This represents a 5.28% decrease in their position. The disclosure for this sale can be found here. 15.38% of the stock is owned by company insiders.

Garmin Trading Up 0.7%

GRMN traded up $1.65 during midday trading on Wednesday, reaching $229.90. The company's stock had a trading volume of 847,635 shares, compared to its average volume of 900,619. The company has a fifty day simple moving average of $213.61 and a 200 day simple moving average of $209.15. The stock has a market cap of $44.25 billion, a P/E ratio of 28.35, a PEG ratio of 2.54 and a beta of 0.99. Garmin Ltd. has a twelve month low of $160.94 and a twelve month high of $246.50.

Garmin (NYSE:GRMN - Get Free Report) last issued its earnings results on Wednesday, July 30th. The scientific and technical instruments company reported $2.17 EPS for the quarter, beating the consensus estimate of $1.90 by $0.27. Garmin had a net margin of 23.21% and a return on equity of 20.00%. The company had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.68 billion. During the same quarter in the previous year, the company earned $1.58 EPS. The firm's revenue for the quarter was up 20.4% compared to the same quarter last year. Sell-side analysts expect that Garmin Ltd. will post 7.8 earnings per share for the current year.

Garmin Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 12th will be given a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 1.6%. Garmin's dividend payout ratio is currently 44.39%.

Wall Street Analysts Forecast Growth

GRMN has been the subject of a number of analyst reports. Morgan Stanley boosted their price target on Garmin from $172.00 to $186.00 and gave the stock an "underweight" rating in a research report on Thursday, July 31st. Barclays reaffirmed an "underweight" rating and set a $167.00 target price (up previously from $152.00) on shares of Garmin in a research report on Wednesday, July 30th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Garmin from $215.00 to $250.00 and gave the company a "neutral" rating in a research report on Thursday, July 17th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $222.00.

Garmin 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.