1,884 Shares in Garmin Ltd. $GRMN Purchased by Algert Global LLC

Key Points

• Algert Global LLC has taken a new position in Garmin Ltd. ($GRMN) with a stake valued at approximately $409,000, acquiring 1,884 shares.
• Several large investors, including Kestra Private Wealth Services LLC and Wealth Enhancement Advisory Services LLC, have significantly increased their holdings in Garmin during the first quarter.
• Garmin reported earnings of $2.17 per share, exceeding expectations, with a year-over-year revenue growth of 20.4%.

Algert Global LLC bought a new stake in shares of Garmin Ltd. (NYSE:GRMN - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund bought 1,884 shares of the scientific and technical instruments company's stock, valued at approximately $409,000.

Several other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Garmin by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 18,425,166 shares of the scientific and technical instruments company's stock valued at $4,000,656,000 after purchasing an additional 357,458 shares during the period. Invesco Ltd. grew its holdings in shares of Garmin by 9.0% during the 1st quarter. Invesco Ltd. now owns 1,862,153 shares of the scientific and technical instruments company's stock valued at $404,329,000 after acquiring an additional 153,267 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Garmin by 20.2% during the 4th quarter. Northern Trust Corp now owns 1,708,495 shares of the scientific and technical instruments company's stock valued at $352,394,000 after acquiring an additional 286,765 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Garmin by 15.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 999,096 shares of the scientific and technical instruments company's stock valued at $206,074,000 after acquiring an additional 135,135 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Garmin by 0.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 892,606 shares of the scientific and technical instruments company's stock valued at $193,812,000 after acquiring an additional 2,768 shares in the last quarter. 81.60% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Clifton A. Pemble sold 7,899 shares of the company's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $203.25, for a total transaction of $1,605,471.75. Following the completion of the transaction, the chief executive officer owned 141,626 shares of the company's stock, valued at approximately $28,785,484.50. This represents a 5.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Douglas G. Boessen sold 1,859 shares of the company's stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $215.00, for a total transaction of $399,685.00. Following the transaction, the chief financial officer directly owned 29,146 shares of the company's stock, valued at $6,266,390. This represents a 6.00% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,960 shares of company stock valued at $4,376,918. Insiders own 15.38% of the company's stock.

Garmin Stock Up 2.4%

GRMN stock traded up $5.54 during mid-day trading on Thursday, reaching $241.07. 1,653,093 shares of the stock traded hands, compared to its average volume of 934,635. Garmin Ltd. has a 52 week low of $160.94 and a 52 week high of $246.50. The business has a 50-day moving average of $222.64 and a two-hundred day moving average of $210.97. The firm has a market capitalization of $46.40 billion, a PE ratio of 29.72, a P/E/G ratio of 2.56 and a beta of 0.99.

Garmin (NYSE:GRMN - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The scientific and technical instruments company reported $2.17 EPS for the quarter, beating analysts' consensus estimates of $1.90 by $0.27. The business had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.68 billion. Garmin had a net margin of 23.21% and a return on equity of 20.00%. The firm's revenue for the quarter was up 20.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.58 earnings per share. Garmin has set its FY 2025 guidance at 8.000-8.000 EPS. On average, equities research analysts anticipate that Garmin Ltd. will post 7.8 EPS for the current fiscal year.

Garmin Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Monday, June 16th were given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.5%. Garmin's dividend payout ratio is currently 44.39%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Morgan Stanley boosted their price target on shares of Garmin from $172.00 to $186.00 and gave the company an "underweight" rating in a report on Thursday, July 31st. JPMorgan Chase & Co. increased their target price on shares of Garmin from $215.00 to $250.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. Finally, Barclays reissued an "underweight" rating and set a $167.00 target price (up from $152.00) on shares of Garmin in a research report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, Garmin currently has a consensus rating of "Hold" and a consensus target price 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.