Marshall Financial Group LLC Has $2.89 Million Stock Holdings in Garmin Ltd. (NYSE:GRMN)

Marshall Financial Group LLC decreased its position in shares of Garmin Ltd. (NYSE:GRMN - Free Report) by 11.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,306 shares of the scientific and technical instruments company's stock after selling 1,733 shares during the period. Marshall Financial Group LLC's holdings in Garmin were worth $2,889,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the business. Norges Bank acquired a new stake in Garmin during the fourth quarter valued at $396,184,000. GAMMA Investing LLC grew its holdings in shares of Garmin by 25,047.9% during the first quarter. GAMMA Investing LLC now owns 885,456 shares of the scientific and technical instruments company's stock worth $192,259,000 after buying an additional 881,935 shares in the last quarter. Congress Asset Management Co. raised its holdings in Garmin by 673.4% in the 1st quarter. Congress Asset Management Co. now owns 441,318 shares of the scientific and technical instruments company's stock valued at $95,823,000 after acquiring an additional 384,258 shares during the last quarter. Northern Trust Corp lifted its position in Garmin by 20.2% during the fourth quarter. Northern Trust Corp now owns 1,708,495 shares of the scientific and technical instruments company's stock worth $352,394,000 after buying an additional 286,765 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec raised its holdings in shares of Garmin by 164.7% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 398,145 shares of the scientific and technical instruments company's stock worth $82,121,000 after acquiring an additional 247,726 shares during the period. Institutional investors and hedge funds own 81.60% of the company's stock.

Garmin Stock Performance

Shares of GRMN traded down $7.26 during trading hours on Friday, hitting $201.13. The stock had a trading volume of 838,354 shares, compared to its average volume of 890,338. The firm has a market cap of $38.73 billion, a P/E ratio of 27.51, a P/E/G ratio of 1.36 and a beta of 0.98. Garmin Ltd. has a 12-month low of $158.38 and a 12-month high of $246.50. The company's fifty day simple moving average is $196.87 and its 200 day simple moving average is $208.02.

Garmin (NYSE:GRMN - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The scientific and technical instruments company reported $1.61 EPS for the quarter, missing analysts' consensus estimates of $1.62 by ($0.01). Garmin had a net margin of 22.42% and a return on equity of 19.31%. The business had revenue of $1.54 billion during the quarter, compared to analysts' expectations of $1.50 billion. During the same period in the prior year, the company posted $1.42 EPS. The company's revenue for the quarter was up 11.1% on a year-over-year basis. As a group, sell-side analysts predict that Garmin Ltd. will post 7.8 earnings per share for the current fiscal year.

Garmin Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Monday, June 16th will be given a $0.90 dividend. This represents a $3.60 annualized dividend and a yield of 1.79%. Garmin's dividend payout ratio (DPR) is presently 47.37%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Tigress Financial boosted their target price on Garmin from $265.00 to $285.00 and gave the company a "strong-buy" rating in a research report on Wednesday, February 26th. Barclays cut 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. Morgan Stanley upped their target price on shares of Garmin from $159.00 to $172.00 and gave the company an "underweight" rating in a report on Thursday, May 1st. Finally, JPMorgan Chase & Co. dropped their price target on Garmin from $220.00 to $215.00 and set a "neutral" rating on the stock in a research note on Thursday, May 1st. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $206.00.

Garmin Company 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.