Integrated Wealth Concepts LLC Has $1.56 Million Position in Garmin Ltd. $GRMN

Key Points

• Integrated Wealth Concepts LLC reduced its position in Garmin Ltd. by 17.8%, selling 1,554 shares and owning a total of 7,169 shares worth approximately $1,557,000 at the end of the recent quarter.
• Several institutional investors significantly increased their stakes in Garmin during the same period, with GAMMA Investing LLC growing its stake by 25,047.9% and now owning 885,456 shares valued at $192,259,000.
• The latest earnings report indicated that Garmin beat analysts' expectations with an EPS of $2.17, and the company reported revenue of $1.81 billion, up 20.4% year-over-year.

Integrated Wealth Concepts LLC lowered its holdings in Garmin Ltd. (NYSE:GRMN - Free Report) by 17.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 7,169 shares of the scientific and technical instruments company's stock after selling 1,554 shares during the quarter. Integrated Wealth Concepts LLC's holdings in Garmin were worth $1,557,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Groupe la Francaise acquired a new position in Garmin in the first quarter worth $33,000. TFC Financial Management Inc. raised its position in shares of Garmin by 1,633.3% during the first quarter. TFC Financial Management Inc. now owns 156 shares of the scientific and technical instruments company's stock worth $34,000 after acquiring an additional 147 shares during the last quarter. Wayfinding Financial LLC bought a new stake in shares of Garmin during the first quarter worth $34,000. Zions Bancorporation National Association UT bought a new stake in shares of Garmin during the first quarter worth $38,000. Finally, Garde Capital Inc. bought a new stake in shares of Garmin during the first quarter worth $40,000. Institutional investors and hedge funds own 81.60% of the company's stock.

Insider Buying and Selling at Garmin

In other Garmin news, CEO Clifton A. Pemble sold 7,899 shares of the business's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $203.25, for a total value of $1,605,471.75. Following the completion of 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Cheng-Wei Wang sold 10,202 shares of the business's stock in a transaction dated Wednesday, August 27th. The shares were sold at an average price of $232.48, for a total value of $2,371,760.96. Following the completion of the transaction, the insider directly owned 36,092 shares of the company's stock, valued at approximately $8,390,668.16. The trade was a 22.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,960 shares of company stock valued at $4,376,918. Company insiders own 15.38% of the company's stock.

Garmin Stock Down 1.3%

NYSE GRMN traded down $3.11 on Friday, reaching $238.07. The company had a trading volume of 528,634 shares, compared to its average volume of 797,916. The stock's 50 day moving average is $230.27 and its 200-day moving average is $212.58. The stock has a market cap of $45.83 billion, a price-to-earnings ratio of 29.36, a PEG ratio of 2.65 and a beta of 1.00. Garmin Ltd. has a 52 week low of $160.94 and a 52 week high of $246.50.

Garmin (NYSE:GRMN - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The scientific and technical instruments company reported $2.17 EPS for the quarter, beating analysts' consensus estimates of $1.90 by $0.27. The business had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.68 billion. Garmin had a return on equity of 20.00% and a net margin of 23.21%.The firm's revenue was up 20.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.58 earnings per share. Garmin has set its FY 2025 guidance at 8.000-8.000 EPS. As a group, analysts forecast that Garmin Ltd. will post 7.8 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. boosted their target price on Garmin from $215.00 to $250.00 and gave the stock a "neutral" rating in a research report on Thursday, July 17th. Barclays restated an "underweight" rating and set a $167.00 target price (up previously from $152.00) on shares of Garmin in a research report on Wednesday, July 30th. Finally, Morgan Stanley boosted their target price on Garmin from $172.00 to $186.00 and gave the stock an "underweight" rating in a research report on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, Garmin has a consensus rating of "Hold" and a consensus 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.