Foster Victor Wealth Advisors LLC raised its holdings in Garmin Ltd. (NYSE:GRMN - Free Report) by 3.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 72,814 shares of the scientific and technical instruments company's stock after acquiring an additional 2,292 shares during the period. Garmin accounts for about 1.2% of Foster Victor Wealth Advisors LLC's holdings, making the stock its 23rd biggest position. Foster Victor Wealth Advisors LLC's holdings in Garmin were worth $15,810,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd raised its stake in Garmin by 864.3% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 135 shares of the scientific and technical instruments company's stock valued at $28,000 after buying an additional 121 shares in the last quarter. Venturi Wealth Management LLC boosted its stake in shares of Garmin by 67.7% during the 4th quarter. Venturi Wealth Management LLC now owns 208 shares of the scientific and technical instruments company's stock worth $43,000 after acquiring an additional 84 shares in the last quarter. Investment Management Corp VA ADV bought a new stake in shares of Garmin during the 4th quarter worth $46,000. Measured Risk Portfolios Inc. purchased a new stake in shares of Garmin in the fourth quarter valued at $47,000. Finally, Larson Financial Group LLC lifted its holdings in shares of Garmin by 26.8% in the fourth quarter. Larson Financial Group LLC now owns 241 shares of the scientific and technical instruments company's stock valued at $50,000 after purchasing an additional 51 shares in the last quarter. Hedge funds and other institutional investors own 81.60% of the company's stock.
Garmin Stock Performance
GRMN traded up $2.96 during trading on Monday, reaching $203.38. 176,086 shares of the company's stock were exchanged, compared to its average volume of 888,832. The company's fifty day moving average price is $197.43 and its 200-day moving average price is $207.88. Garmin Ltd. has a fifty-two week low of $158.38 and a fifty-two week high of $246.50. The firm has a market capitalization of $39.16 billion, a PE ratio of 27.81, a P/E/G ratio of 1.36 and a beta of 0.98.
Garmin (NYSE:GRMN - Get Free Report) last released its earnings results on Wednesday, April 30th. The scientific and technical instruments company reported $1.61 EPS for the quarter, missing analysts' consensus estimates of $1.62 by ($0.01). Garmin had a return on equity of 19.31% and a net margin of 22.42%. The business had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same period in the prior year, the firm posted $1.42 EPS. Garmin's revenue was up 11.1% on a year-over-year basis. Research analysts forecast that Garmin Ltd. will post 7.8 earnings per share for the current fiscal year.
Garmin Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Monday, June 16th will be issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.77%. Garmin's payout ratio is 47.37%.
Wall Street Analyst Weigh In
Several brokerages recently issued reports on GRMN. JPMorgan Chase & Co. cut their price objective on Garmin from $220.00 to $215.00 and set a "neutral" rating for the company in a report on Thursday, May 1st. Barclays lowered their target price 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. Tigress Financial increased their target price on shares of Garmin from $265.00 to $285.00 and gave the stock a "strong-buy" rating in a research report on Wednesday, February 26th. Finally, Morgan Stanley increased their target price on shares of Garmin from $159.00 to $172.00 and gave the stock an "underweight" rating in a research report on Thursday, May 1st. Two equities research 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's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $206.00.
Read Our Latest Stock Report on Garmin
About Garmin
(
Free Report)
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.
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