Portside Wealth Group LLC bought a new stake in Garmin Ltd. (NYSE:GRMN - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 1,589 shares of the scientific and technical instruments company's stock, valued at approximately $345,000.
Other institutional investors have also recently bought and sold shares of the company. Golden State Wealth Management LLC bought a new stake in shares of Garmin in the fourth quarter worth $26,000. Aster Capital Management DIFC Ltd increased its stake in Garmin by 864.3% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 135 shares of the scientific and technical instruments company's stock valued at $28,000 after buying an additional 121 shares during the last quarter. Kentucky Trust Co bought a new stake in Garmin during the 4th quarter worth about $41,000. Venturi Wealth Management LLC boosted its stake in shares of Garmin by 67.7% during the 4th quarter. Venturi Wealth Management LLC now owns 208 shares of the scientific and technical instruments company's stock worth $43,000 after buying an additional 84 shares during the last quarter. Finally, Investment Management Corp VA ADV bought a new position in shares of Garmin in the 4th quarter valued at about $46,000. Institutional investors own 81.60% of the company's stock.
Garmin Stock Down 3.5%
Shares of GRMN stock traded down $7.26 during trading on Friday, reaching $201.13. 838,354 shares of the company's stock were exchanged, compared to its average volume of 890,339. The firm's fifty day moving average price is $197.43 and its 200-day moving average price is $207.94. Garmin Ltd. has a twelve month low of $158.38 and a twelve month high of $246.50. The stock has a market capitalization of $38.73 billion, a PE ratio of 27.51, a PEG ratio of 1.36 and a beta of 0.98.
Garmin (NYSE:GRMN - Get Free Report) last posted its earnings results on Wednesday, April 30th. The scientific and technical instruments company reported $1.61 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.62 by ($0.01). Garmin had a return on equity of 19.31% and a net margin of 22.42%. The company had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the prior year, the business posted $1.42 EPS. The business's quarterly revenue was up 11.1% compared to the same quarter last year. As a group, analysts anticipate that Garmin Ltd. will post 7.8 EPS for the current fiscal year.
Garmin Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Monday, June 16th will be given a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 1.79%. Garmin's payout ratio is 47.37%.
Wall Street Analyst Weigh In
GRMN has been the topic of several analyst reports. Tigress Financial upped their target price on Garmin from $265.00 to $285.00 and gave the stock a "strong-buy" rating in a report on Wednesday, February 26th. JPMorgan Chase & Co. dropped their price objective on Garmin from $220.00 to $215.00 and set a "neutral" rating on the stock in a research note on Thursday, May 1st. Barclays decreased their target price on shares of Garmin from $188.00 to $152.00 and set an "underweight" rating for the company in a research note on Wednesday, April 30th. Finally, Morgan Stanley increased their price target on shares of Garmin from $159.00 to $172.00 and gave the company an "underweight" rating in a research note on Thursday, May 1st. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Garmin currently has a consensus rating of "Hold" and an average target price of $206.00.
Get Our Latest Stock Report 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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