FSM Wealth Advisors LLC Purchases 72 Shares of Garmin Ltd. (NYSE:GRMN)

FSM Wealth Advisors LLC lifted its position in Garmin Ltd. (NYSE:GRMN) by 5.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,497 shares of the scientific and technical instruments company’s stock after buying an additional 72 shares during the quarter. FSM Wealth Advisors LLC’s holdings in Garmin were worth $325,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Quantbot Technologies LP bought a new stake in Garmin during the fourth quarter worth approximately $127,000. Wealth Enhancement Advisory Services LLC boosted its position in Garmin by 46.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 89,715 shares of the scientific and technical instruments company’s stock worth $19,480,000 after purchasing an additional 28,543 shares during the period. US Bancorp DE boosted its position in Garmin by 14.4% during the fourth quarter. US Bancorp DE now owns 8,521 shares of the scientific and technical instruments company’s stock worth $1,758,000 after purchasing an additional 1,074 shares during the period. Korea Investment CORP boosted its position in Garmin by 7.6% during the fourth quarter. Korea Investment CORP now owns 73,265 shares of the scientific and technical instruments company’s stock worth $15,112,000 after purchasing an additional 5,200 shares during the period. Finally, American Century Companies Inc. boosted its position in Garmin by 4.9% during the fourth quarter. American Century Companies Inc. now owns 60,280 shares of the scientific and technical instruments company’s stock worth $12,433,000 after purchasing an additional 2,841 shares during the period. Institutional investors own 81.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on GRMN. Barclays decreased their target price on Garmin from $188.00 to $152.00 and set an “underweight” rating for the company in a research report on Wednesday, April 30th. Morgan Stanley raised their price objective on shares of Garmin from $159.00 to $172.00 and gave the stock an “underweight” rating in a research note on Thursday, May 1st. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Garmin from $220.00 to $215.00 and set a “neutral” rating on the stock in a research note on Thursday, May 1st. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $206.00.

Insider Buying and Selling at Garmin

In related news, CEO Clifton A. Pemble sold 7,899 shares of the firm’s stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $203.25, for a total value of $1,605,471.75. Following the transaction, the chief executive officer owned 141,626 shares in the company, valued at $28,785,484.50. This trade represents a 5.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 15.38% of the company’s stock.

Garmin Price Performance

Garmin stock opened at $213.42 on Thursday. The stock has a fifty day moving average price of $201.28 and a two-hundred day moving average price of $206.91. Garmin Ltd. has a 52-week low of $158.90 and a 52-week high of $246.50. The firm has a market capitalization of $41.09 billion, a P/E ratio of 28.08, a P/E/G ratio of 2.37 and a beta of 0.97.

Garmin (NYSE:GRMN) last released 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). Garmin had a return on equity of 19.21% and a net margin of 22.76%. 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 company earned $1.42 earnings per share. The business’s revenue was up 11.1% compared to the same quarter last year. On average, equities research analysts predict that Garmin Ltd. will post 7.8 EPS for the current fiscal year.

Garmin Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Monday, June 16th were paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 1.69%. Garmin’s dividend payout ratio (DPR) is presently 47.37%.

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.