Alliance Wealth Advisors LLC UT Invests $239,000 in Garmin Ltd. $GRMN

Key Points

• Alliance Wealth Advisors LLC acquired a new stake in Garmin Ltd. valued at approximately $239,000, purchasing 1,103 shares in the first quarter.
• Garmin's most recent earnings report showed earnings per share of $2.17, exceeding estimates by $0.27, with revenue reaching $1.81 billion, a 20.4% increase year-over-year.
• Garmin declared a quarterly dividend of $0.90 per share, reflecting an annualized dividend yield of 1.5%.

Alliance Wealth Advisors LLC UT purchased a new stake in shares of Garmin Ltd. (NYSE:GRMN - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 1,103 shares of the scientific and technical instruments company's stock, valued at approximately $239,000.

Other hedge funds have also bought and sold shares of the company. TFC Financial Management Inc. increased its stake in shares of Garmin by 1,633.3% during the first 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 bought a new stake in shares of Garmin in the 1st quarter worth approximately $34,000. Zions Bancorporation National Association UT bought a new stake in shares of Garmin in the 1st quarter worth approximately $38,000. Garde Capital Inc. bought a new stake in shares of Garmin in the 1st quarter worth approximately $40,000. Finally, Olde Wealth Management LLC bought a new position in Garmin during the 1st quarter valued at approximately $43,000. Institutional investors own 81.60% of the company's stock.

Insider Buying and Selling

In related news, CEO Clifton A. Pemble sold 7,899 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer owned 141,626 shares in the company, valued at $28,785,484.50. This represents a 5.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Douglas G. Boessen sold 1,859 shares of Garmin stock in a transaction that occurred on 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 sale, the chief financial officer directly owned 29,146 shares of the company's stock, valued at approximately $6,266,390. This trade represents a 6.00% decrease in their position. The disclosure for this sale can be found here. 19.54% of the stock is owned by corporate insiders.

Garmin Stock Performance

Shares of GRMN stock traded down $3.4620 during mid-day trading on Wednesday, hitting $229.9880. The company's stock had a trading volume of 607,973 shares, compared to its average volume of 937,931. The stock has a market cap of $44.27 billion, a price-to-earnings ratio of 28.36, a PEG ratio of 2.59 and a beta of 0.99. 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 price of $219.07 and a 200 day moving average price of $210.30.

Garmin (NYSE:GRMN - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The scientific and technical instruments company reported $2.17 EPS for the quarter, topping the consensus estimate of $1.90 by $0.27. Garmin had a return on equity of 20.00% and a net margin of 23.21%.The company had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.68 billion. During the same period last year, the company earned $1.58 EPS. Garmin's revenue for the quarter was up 20.4% on a year-over-year basis. Garmin has set its FY 2025 guidance at 8.000-8.000 EPS. Equities research analysts predict 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 will be paid on Friday, September 26th. Stockholders of record on Friday, September 12th will be issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 1.6%. Garmin's payout ratio is 44.39%.

Wall Street Analysts Forecast Growth

GRMN has been the topic of several analyst reports. JPMorgan Chase & Co. boosted their target price on Garmin from $215.00 to $250.00 and gave the stock a "neutral" rating in a report on Thursday, July 17th. Morgan Stanley lifted 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. Finally, Barclays reissued an "underweight" rating and set a $167.00 price objective (up from $152.00) on shares of Garmin in a research report on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average 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.