Whitaker Myers Wealth Managers LTD. Buys New Holdings in Garmin Ltd. (NYSE:GRMN)

Whitaker Myers Wealth Managers LTD. bought a new position in Garmin Ltd. (NYSE:GRMN - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,075 shares of the scientific and technical instruments company's stock, valued at approximately $451,000.

A number of other institutional investors have also recently modified their holdings of the stock. Golden State Wealth Management LLC purchased a new position in shares of Garmin during the fourth quarter valued at approximately $26,000. Aster Capital Management DIFC Ltd boosted its position in Garmin by 864.3% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 135 shares of the scientific and technical instruments company's stock worth $28,000 after purchasing an additional 121 shares during the last quarter. SOA Wealth Advisors LLC. bought a new stake in shares of Garmin during the 4th quarter valued at about $37,000. Kentucky Trust Co purchased a new stake in shares of Garmin during the 4th quarter valued at about $41,000. Finally, Venturi Wealth Management LLC lifted its stake in shares of Garmin by 67.7% in the 4th quarter. Venturi Wealth Management LLC now owns 208 shares of the scientific and technical instruments company's stock worth $43,000 after purchasing an additional 84 shares during the period. 81.60% of the stock is owned by hedge funds and other institutional investors.

Garmin Price Performance

Shares of GRMN stock traded down $1.08 during mid-day trading on Wednesday, hitting $209.04. The stock had a trading volume of 627,668 shares, compared to its average volume of 889,449. Garmin Ltd. has a 12-month low of $158.38 and a 12-month high of $246.50. The firm's 50-day moving average is $195.70 and its two-hundred day moving average is $208.06. The firm has a market capitalization of $40.25 billion, a P/E ratio of 28.60, a price-to-earnings-growth ratio of 1.36 and a beta of 0.98.

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 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.62 by ($0.01). The business had revenue of $1.54 billion for the quarter, compared to analysts' expectations of $1.50 billion. Garmin had a net margin of 22.42% and a return on equity of 19.31%. The business's quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.42 earnings per share. Analysts expect that Garmin Ltd. will post 7.8 EPS for the current year.

Garmin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Monday, June 16th will be given a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 1.72%. Garmin's payout ratio is 47.37%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on GRMN shares. Morgan Stanley upped their price objective on Garmin from $159.00 to $172.00 and gave the stock an "underweight" rating in a research note on Thursday, May 1st. Barclays decreased their price objective on shares of Garmin from $188.00 to $152.00 and set an "underweight" rating on the stock in a research report on Wednesday, April 30th. JPMorgan Chase & Co. dropped their price objective on shares of Garmin from $220.00 to $215.00 and set a "neutral" rating for the company in a report on Thursday, May 1st. Finally, Tigress Financial increased their price target on Garmin from $265.00 to $285.00 and gave the company a "strong-buy" rating in a research note on Wednesday, February 26th. Two equities research 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $206.00.

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.