1,611 Shares in Garmin Ltd. (NYSE:GRMN) Purchased by SVB Wealth LLC

SVB Wealth LLC purchased a new position in shares of Garmin Ltd. (NYSE:GRMN) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,611 shares of the scientific and technical instruments company’s stock, valued at approximately $207,000.

A number of other hedge funds have also bought and sold shares of GRMN. CWM LLC grew its stake in Garmin by 4.6% during the third quarter. CWM LLC now owns 3,860 shares of the scientific and technical instruments company’s stock worth $406,000 after buying an additional 171 shares in the last quarter. HB Wealth Management LLC grew its stake in Garmin by 10.3% during the third quarter. HB Wealth Management LLC now owns 3,774 shares of the scientific and technical instruments company’s stock worth $397,000 after buying an additional 353 shares in the last quarter. Avior Wealth Management LLC grew its stake in Garmin by 169.5% during the third quarter. Avior Wealth Management LLC now owns 283 shares of the scientific and technical instruments company’s stock worth $30,000 after buying an additional 178 shares in the last quarter. GHP Investment Advisors Inc. grew its stake in Garmin by 11.4% during the third quarter. GHP Investment Advisors Inc. now owns 50,547 shares of the scientific and technical instruments company’s stock worth $5,408,000 after buying an additional 5,175 shares in the last quarter. Finally, NovaPoint Capital LLC grew its stake in Garmin by 10.3% during the third quarter. NovaPoint Capital LLC now owns 26,751 shares of the scientific and technical instruments company’s stock worth $2,814,000 after buying an additional 2,505 shares in the last quarter. 73.41% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Tigress Financial reiterated a “strong-buy” rating and set a $175.00 price objective (up from $165.00) on shares of Garmin in a research note on Tuesday, February 27th. Barrington Research raised their price target on shares of Garmin from $119.00 to $140.00 and gave the company an “equal weight” rating in a research note on Thursday, February 22nd. Bank of America raised their price target on shares of Garmin from $120.00 to $165.00 and gave the company a “neutral” rating in a research note on Wednesday, April 3rd. StockNews.com upgraded shares of Garmin from a “hold” rating to a “buy” rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. raised their price target on shares of Garmin from $139.00 to $155.00 and gave the company a “neutral” rating in a research note on Thursday, April 11th. Five research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Garmin currently has a consensus rating of “Hold” and a consensus target price of $142.33.

Garmin Price Performance

Shares of NYSE GRMN opened at $142.51 on Wednesday. The company has a 50 day simple moving average of $141.30 and a 200 day simple moving average of $127.10. The firm has a market cap of $27.33 billion, a PE ratio of 21.24, a price-to-earnings-growth ratio of 4.58 and a beta of 0.98. Garmin Ltd. has a 1 year low of $94.89 and a 1 year high of $149.54.

Garmin (NYSE:GRMN) last issued its quarterly earnings data on Wednesday, February 21st. The scientific and technical instruments company reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.40 by $0.32. The business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.41 billion. Garmin had a net margin of 24.67% and a return on equity of 16.60%. The firm’s quarterly revenue was up 13.3% on a year-over-year basis. During the same quarter last year, the business earned $1.35 EPS. As a group, research analysts anticipate that Garmin Ltd. will post 5.45 earnings per share for the current fiscal year.

Garmin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be issued a $0.75 dividend. The ex-dividend date is Friday, December 13th. This represents a $3.00 dividend on an annualized basis and a yield of 2.11%. Garmin’s dividend payout ratio (DPR) is presently 43.52%.

Insiders Place Their Bets

In other Garmin news, Director Jonathan Burrell sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $146.15, for a total transaction of $2,192,250.00. Following the completion of the transaction, the director now owns 623,834 shares in the company, valued at approximately $91,173,339.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Garmin news, Director Jonathan Burrell sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $146.15, for a total transaction of $2,192,250.00. Following the completion of the transaction, the director now owns 623,834 shares in the company, valued at approximately $91,173,339.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Susan Lyman sold 2,587 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $135.18, for a total transaction of $349,710.66. Following the transaction, the vice president now owns 7,174 shares of the company’s stock, valued at approximately $969,781.32. The disclosure for this sale can be found here. In the last 90 days, insiders sold 99,476 shares of company stock worth $14,166,944. 19.89% of the stock is currently owned by insiders.

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.