Independent Solutions Wealth Management LLC purchased a new stake in shares of Garmin Ltd. (NYSE:GRMN - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,507 shares of the scientific and technical instruments company's stock, valued at approximately $327,000.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd raised its stake in shares of Garmin by 864.3% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 135 shares of the scientific and technical instruments company's stock worth $28,000 after buying an additional 121 shares during the period. Garde Capital Inc. purchased a new stake in Garmin in the 1st quarter worth $40,000. Venturi Wealth Management LLC raised its position in 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 worth $43,000 after acquiring an additional 84 shares during the period. Investment Management Corp VA ADV purchased a new position in Garmin during the fourth quarter valued at $46,000. Finally, Measured Risk Portfolios Inc. purchased a new stake in shares of Garmin during the fourth quarter worth about $47,000. Hedge funds and other institutional investors own 81.60% of the company's stock.
Analyst Upgrades and Downgrades
Several equities research analysts recently issued reports on the company. JPMorgan Chase & Co. lowered their price objective on Garmin from $220.00 to $215.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. Barclays lowered their price target on Garmin from $188.00 to $152.00 and set an "underweight" rating on the stock in a research note on Wednesday, April 30th. Finally, Morgan Stanley increased their price objective on Garmin from $159.00 to $172.00 and gave the company an "underweight" rating in a research note on Thursday, May 1st. Two 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's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $206.00.
Read Our Latest Stock Analysis on Garmin
Insider Buying and Selling
In other Garmin news, CEO Clifton A. Pemble sold 7,899 shares of the firm's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $203.25, for a total transaction of $1,605,471.75. Following the completion of the sale, the chief executive officer now owns 141,626 shares of the company's stock, valued at $28,785,484.50. This trade represents a 5.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 15.38% of the stock is owned by company insiders.
Garmin Trading Up 1.6%
GRMN stock traded up $3.34 during mid-day trading on Friday, reaching $208.49. The company's stock had a trading volume of 1,109,822 shares, compared to its average volume of 904,766. The company's 50 day moving average is $199.71 and its two-hundred day moving average is $207.12. Garmin Ltd. has a fifty-two week low of $158.90 and a fifty-two week high of $246.50. The stock has a market cap of $40.14 billion, a PE ratio of 27.43, a P/E/G ratio of 2.30 and a beta of 0.98.
Garmin (NYSE:GRMN - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The scientific and technical instruments company reported $1.61 EPS for the quarter, missing the consensus estimate of $1.62 by ($0.01). The company had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.50 billion. Garmin had a net margin of 22.76% and a return on equity of 19.21%. Garmin's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.42 EPS. On average, analysts forecast that Garmin Ltd. will post 7.8 earnings per share for the current fiscal year.
Garmin Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Investors 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 1.73%. Garmin's dividend payout ratio is currently 47.37%.
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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