Garmin Ltd. (NYSE:GRMN) Shares Sold by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC lessened its holdings in shares of Garmin Ltd. (NYSE:GRMN - Free Report) by 21.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 181,284 shares of the scientific and technical instruments company's stock after selling 49,404 shares during the period. Wedge Capital Management L L P NC owned approximately 0.09% of Garmin worth $39,362,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Golden State Wealth Management LLC acquired a new position in Garmin during the 4th quarter valued at approximately $26,000. Aster Capital Management DIFC Ltd increased its position in shares of 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 acquiring an additional 121 shares during the period. SOA Wealth Advisors LLC. purchased a new position in Garmin in the 4th quarter worth $37,000. Kentucky Trust Co acquired a new stake in Garmin during the 4th quarter worth about $41,000. Finally, Venturi Wealth Management LLC lifted its position in 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 acquiring an additional 84 shares during the period. Hedge funds and other institutional investors own 81.60% of the company's stock.

Garmin Stock Up 0.4%

Shares of GRMN traded up $0.89 during mid-day trading on Monday, reaching $208.34. The company had a trading volume of 1,183,687 shares, compared to its average volume of 888,953. The stock has a market capitalization of $40.11 billion, a P/E ratio of 28.50, a PEG ratio of 1.36 and a beta of 0.98. Garmin Ltd. has a 52-week low of $158.38 and a 52-week high of $246.50. The stock has a 50 day moving average of $195.40 and a two-hundred day moving average of $208.06.

Garmin (NYSE:GRMN - Get Free Report) last issued its quarterly earnings data 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 return on equity of 19.31% and a net margin of 22.42%. The firm had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same period in the previous year, the business earned $1.42 EPS. Garmin's revenue for the quarter was up 11.1% compared to the same quarter last year. On average, sell-side analysts expect that Garmin Ltd. will post 7.8 earnings per share for the current year.

Garmin Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 1.73%. Garmin's dividend payout ratio (DPR) is currently 47.37%.

Analyst Upgrades and Downgrades

GRMN has been the topic of a number of research reports. JPMorgan Chase & Co. cut 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 cut their price target 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. Morgan Stanley lifted their price objective 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. Finally, Tigress Financial upped their price objective on shares of Garmin from $265.00 to $285.00 and gave the company a "strong-buy" rating in a report on Wednesday, February 26th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Garmin presently has a consensus rating of "Hold" and a consensus target price of $206.00.

About Garmin

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.