Azzad Asset Management Inc. ADV lessened its stake in Garmin Ltd. (NYSE:GRMN - Free Report) by 27.6% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,165 shares of the scientific and technical instruments company's stock after selling 5,789 shares during the quarter. Azzad Asset Management Inc. ADV's holdings in Garmin were worth $3,293,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of GRMN. Aster Capital Management DIFC Ltd increased its position in shares of 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 acquiring an additional 121 shares during the last quarter. Venturi Wealth Management LLC increased its position in shares of Garmin by 67.7% during the fourth quarter. Venturi Wealth Management LLC now owns 208 shares of the scientific and technical instruments company's stock valued at $43,000 after acquiring an additional 84 shares during the last quarter. Investment Management Corp VA ADV purchased a new stake in shares of Garmin during the fourth quarter valued at approximately $46,000. Measured Risk Portfolios Inc. purchased a new stake in shares of Garmin during the fourth quarter valued at approximately $47,000. Finally, Larson Financial Group LLC increased its position in shares of Garmin by 26.8% during 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 acquiring an additional 51 shares during the last quarter. Institutional investors own 81.60% of the company's stock.
Garmin Trading Down 3.5%
Shares of NYSE GRMN traded down $7.26 during mid-day trading on Friday, hitting $201.13. The company had a trading volume of 838,354 shares, compared to its average volume of 891,660. The company has a market capitalization of $38.73 billion, a price-to-earnings ratio of 27.51, a P/E/G ratio of 1.36 and a beta of 0.98. Garmin Ltd. has a 1 year low of $158.38 and a 1 year high of $246.50. The stock's 50-day moving average price is $197.43 and its 200-day moving average price is $207.91.
Garmin (NYSE:GRMN - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The scientific and technical instruments company reported $1.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.62 by ($0.01). The business had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.50 billion. Garmin had a net margin of 22.42% and a return on equity of 19.31%. Garmin's quarterly revenue was up 11.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.42 EPS. As a group, equities research analysts forecast that Garmin Ltd. will post 7.8 earnings per share for the current year.
Garmin Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Monday, June 16th will be paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.79%. Garmin's dividend payout ratio (DPR) is presently 47.37%.
Analyst Upgrades and Downgrades
A number of brokerages recently commented on GRMN. Barclays decreased their price target on Garmin from $188.00 to $152.00 and set an "underweight" rating for the company in a research report on Wednesday, April 30th. Tigress Financial raised their target price on Garmin from $265.00 to $285.00 and gave the stock a "strong-buy" rating in a research report on Wednesday, February 26th. JPMorgan Chase & Co. decreased their target price on Garmin from $220.00 to $215.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. Finally, Morgan Stanley raised their target price on Garmin from $159.00 to $172.00 and gave the stock an "underweight" rating in a research report on Thursday, May 1st. Two 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 stock. According to data from MarketBeat.com, Garmin currently has a consensus rating of "Hold" and an average target price of $206.00.
Check Out Our Latest Stock Analysis on GRMN
Garmin Company Profile
(
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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