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GHP Investment Advisors Inc. Has $13.70 Million Holdings in Garmin Ltd. (NYSE:GRMN)

Garmin logo with Computer and Technology background

GHP Investment Advisors Inc. cut its stake in Garmin Ltd. (NYSE:GRMN - Free Report) by 2.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 63,078 shares of the scientific and technical instruments company's stock after selling 1,304 shares during the quarter. GHP Investment Advisors Inc.'s holdings in Garmin were worth $13,696,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in GRMN. Vanguard Group Inc. lifted its stake in shares of Garmin by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 18,067,708 shares of the scientific and technical instruments company's stock worth $3,726,645,000 after buying an additional 215,344 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Garmin by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 4,438,796 shares of the scientific and technical instruments company's stock valued at $913,544,000 after acquiring an additional 75,332 shares during the last quarter. Norges Bank acquired a new stake in shares of Garmin during the 4th quarter worth about $396,184,000. Invesco Ltd. raised its stake in shares of Garmin by 9.6% in the 4th quarter. Invesco Ltd. now owns 1,708,886 shares of the scientific and technical instruments company's stock valued at $352,475,000 after acquiring an additional 149,210 shares during the period. Finally, Northern Trust Corp grew its position in Garmin by 20.2% in 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. Institutional investors and hedge funds own 81.60% of the company's stock.

Garmin Trading Up 1.6%

GRMN stock traded up $3.34 during trading on Friday, hitting $208.49. The company had a trading volume of 1,109,822 shares, compared to its average volume of 903,061. The business has a 50 day moving average of $199.71 and a 200 day moving average of $207.12. The firm has a market capitalization of $40.14 billion, a price-to-earnings ratio of 27.43, a P/E/G ratio of 2.28 and a beta of 0.98. Garmin Ltd. has a fifty-two week low of $158.90 and a fifty-two week high of $246.50.

Garmin (NYSE:GRMN - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The scientific and technical instruments company reported $1.61 earnings per share for the quarter, missing the consensus estimate of $1.62 by ($0.01). Garmin had a return on equity of 19.21% and a net margin of 22.76%. The company had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same period in the prior year, the business earned $1.42 earnings per share. The business's revenue was up 11.1% compared to the same quarter last year. As a group, equities analysts predict that Garmin Ltd. will post 7.8 EPS for the current year.

Garmin Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Monday, June 16th will be issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 1.73%. Garmin's dividend payout ratio is currently 47.37%.

Insider Transactions at Garmin

In related news, CEO Clifton A. Pemble sold 7,899 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 141,626 shares in the company, valued at approximately $28,785,484.50. This trade represents a 5.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 15.38% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. JPMorgan Chase & Co. lowered their price objective on Garmin from $220.00 to $215.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. Barclays cut their target price on shares of Garmin from $188.00 to $152.00 and set an "underweight" rating on the stock in a report on Wednesday, April 30th. Finally, Morgan Stanley increased their price objective on Garmin from $159.00 to $172.00 and gave the stock an "underweight" rating in a research report on Thursday, May 1st. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Garmin currently has an average rating of "Hold" and an average target price of $206.00.

View Our Latest Stock Report on Garmin

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.

Further Reading

Institutional Ownership by Quarter for Garmin (NYSE:GRMN)

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