Foundations Investment Advisors LLC Invests $295,000 in Garmin Ltd. (NYSE:GRMN)

Key Points

• Foundations Investment Advisors LLC acquired 1,357 shares of Garmin Ltd., valued at approximately $295,000, during the first quarter.
• Several institutional investors, including Norden Group LLC and LPL Financial LLC, have also increased their holdings in Garmin, highlighting growing interest in the stock.
• Garmin announced a quarterly dividend of $0.90, with an annualized dividend yield of 1.6%, scheduled to be paid on September 26th.

Foundations Investment Advisors LLC acquired a new stake in shares of Garmin Ltd. (NYSE:GRMN - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 1,357 shares of the scientific and technical instruments company's stock, valued at approximately $295,000.

Other large investors have also bought and sold shares of the company. Aster Capital Management DIFC Ltd lifted its position 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 purchasing an additional 121 shares during the period. TFC Financial Management Inc. lifted 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 buying an additional 147 shares during the period. Wayfinding Financial LLC purchased a new position in shares of Garmin in the 1st quarter worth $34,000. Garde Capital Inc. purchased a new position in shares of Garmin in the 1st quarter worth $40,000. Finally, Olde Wealth Management LLC bought a new stake in shares of Garmin in the first quarter worth $43,000. 81.60% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CFO Douglas G. Boessen sold 1,859 shares of the firm's 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 $6,266,390. This trade represents a 6.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 value of $1,605,471.75. Following the transaction, the chief executive officer directly owned 141,626 shares of the company's stock, valued at approximately $28,785,484.50. The trade was a 5.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 19.54% of the company's stock.

Garmin Stock Up 0.7%

GRMN traded up $1.52 during midday trading on Wednesday, reaching $229.77. The company had a trading volume of 435,892 shares, compared to its average volume of 952,160. The business has a 50-day moving average of $213.61 and a two-hundred day moving average of $209.15. Garmin Ltd. has a 1 year low of $160.94 and a 1 year high of $246.50. The company has a market cap of $44.23 billion, a P/E ratio of 28.33, a P/E/G ratio of 2.51 and a beta of 0.99.

Garmin (NYSE:GRMN - Get Free Report) last released its earnings results on Wednesday, July 30th. The scientific and technical instruments company reported $2.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.27. The company 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 quarterly revenue was up 20.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.58 EPS. On average, equities research analysts predict that Garmin Ltd. will post 7.8 EPS for the current year.

Garmin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 1.6%. Garmin's dividend payout ratio (DPR) is currently 44.39%.

Analyst Ratings Changes

A number of research firms have weighed in on GRMN. Morgan Stanley increased their target price on Garmin from $172.00 to $186.00 and gave the company an "underweight" rating in a report on Thursday, July 31st. JPMorgan Chase & Co. upped 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. Finally, Barclays reissued an "underweight" rating and issued a $167.00 price objective (up previously from $152.00) on shares of Garmin in a report on Wednesday, July 30th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average 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.